(VNF) - The Vietnam Military-run Telecommunications Group (Viettel) has recently announced its strategic investment into Myanmar, one of Southeast Asia’s fastest-growing economies.

Entering Myanmar’s telecommunications markets through a consortium, Viettel aims to deliver robust, differentiated ICT offerings that empower Myanmar to grow further as Asia’s next large technology-led economy.

“We enter Myanmar at this historic phase in the country’s reform era, when the country is forecast to witness accelerated economic growth, enhanced also through increased foreign direct investment. Advancing the country’s telecom infrastructure will help us drive a surge in mobile and smartphone subscription penetration, to achieve the government’s target of reaching 90% of the population by 2020. We believe that the role of telecommunications is fundamental in driving Myanmar’s next phase of economic growth”, said Major-General Le Dang Dung, Deputy General Director of Viettel Group.

The consortium will have a total investment of USD1.5 billion, of which Viettel holds 49% of the shares. Upon the completion of the proposed telecom operating license, Viettel targets to build up nationwide network coverage within the first year of operation and extend access to telecom services to 95% of Myanmar’s population within three years.

Customers will benefit from 3G-only network in 900MHz and 2100MHz frequency bands that meet their demand for higher speed and more reliable data services. It also aims to launch 4G services on the 1800MHz frequency band in the near future, subject to additional licensing.

Having experience in nine global markets, the group will continue to extend connectivity to entire populations, providing unrestricted access across rural and urban geographies, thus serving the needs of the untapped telecom market with a population of over 53 million./.

( VNF )