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Viettel to Invest $800m into Myanmar Network

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Vietnam’s Viettel is reportedly planning to invest $800 million in a project to build a telecom network in Myanmar.

Viettel Global will co-operate with local companies on a project to establish an operator serving the blossoming market, Tuoi Tre News reported.

The total investment in the project is expected to be at least $1.8 billion, with $1 billion to be provided by the Myanmar partners.

As part of the plan, Viettel plans to establish Viettel Myanmar to serve the local telecom market. The company will compete with Ooredoo Myanmar and Telenor Myanmar in targeting the underserved mobile market.

Viettel is owned and operated by the Vietnamese military. The company owns a 97.6% stake in its international investment arm. Original post at Telecom Asia

Wahengbam Rorrkychand

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