The Mytel network, jointly developed by Viettel, Myanmar National Holding Public Ltd and Star High Public Co Ltd, aims to have at least 2 million-3 million subscribers by this year-end, the government said in a statement.
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For this project, Vietnam has climbed to from 10th to 7th among 49 countries and territories investing in Myanmar, as well as being the second largest investors in ASEAN to Myanmar.
"With a low mobile phone penetration and a newly opened and fast-growing economy, Myanmar offers great opportunities for telecommunication companies," Viettel Deputy General Director Le Dang Dung was cited as saying in the statement.
Vietnam's largest mobile carrier by subscription - Viettel - has already invested in 10 countries across Asia, Africa and America, and has 43 million subscribers overseas, as of end-2017.
Myanmar is Viettel's 10th foreign market with population of 53 million. The country has the highest economic growth rate among Viettel's foreign markets at 7%. Myanmar also has the highest growth rate in telecom and information & technology.
By the end of 2017, Viettel posted US$1.3 billion in revenue from investing in oversea markets, announced the military-run telecom group.
Viettel currently is the only Vietnamese companies having revenue of over US$1 billion from overseas investments. Total number of customers using Viettel's services in foreign markets is estimated at 43 million by the end of 2017, up 15% year on year and 5 times higher than the average in the world, while others regions such as Africa posted growth rate in customers expansion of 6%, Africa of 3% and Asia of 3%.
Additionally, Viettel is providing 4G network at 7 out of its 10 foreign markets, along with its average revenue per user (ARPU) in 2017 also increased by 20%.
In 2018, Viettel targets a positive profit in overseas investments and a growth rate of 32% compared to 2017; customers growth rate of 16%, taking its total customers to 50 million.
Viettel is operating in 11 countries, including Vietnam, Cambodia, Laos, Timor East, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar.
