Viettel Group, the largest mobile network operator in Vietnam, said it will launch its services in Myanmar next month. Myanmar will be Viettel's 10th foreign market, following the launch of operations in countries including Cambodia, Laos and Mozambique.
Viettel is named as the best brand value with US$2.5 billion in 2017.
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The test was carried out on Sunday by Telecom International Myanmar Company or MyTel, a joint venture between Viettel and Star High Public Company, a local telecom carrier, overseen by the Myanmar authorities. Viettel said the joint venture will be ready to launch services in Myanmar soon.
MyTel was awarded Myanmar's fourth operator license on Jan. 12, 2017. Viettel holds 49% in the joint venture, while Star High owns 28%, and Myanmar National Telecom Holding Public Ltd. holds the remaining 23%.
Last year Viettel said it would invest US$1.5 billion to deploy 7,200 base stations and build out a 4G network in the country. MyTel aims to extend its 4G LTE network to more than 90% of the country's population within three years, especially in rural areas. Viettel said MyTel will provide mobile and fixed telecom services, content services and e-wallets in Myanmar in the first quarter.
The local market has been dominated by the state-owned Myanmar Posts and Telecommunications, which partnered with Japan's KDDI, and holds a 42% market share, according to Myanmar media. Telenor, the Norway-based multinational, and Qatari carrier Ooredoo follow with market shares of 35% and 23% respectively.
While Ooredoo and Telenor mainly control large market shares in urban areas such as Myanmar's commercial hub Yangon, Viettel expects to cover rural and remote areas by leveraging its business model deployed in Vietnam and other markets, such as Cambodia, Laos, East Timor and Mozambique.
Viettel currently operates in nine foreign markets, and has more than 90 million customers, including those in Vietnam. The group's revenue was VND250.8 trillion (US$11.2 billion) in 2017, while profit before tax was VND44 trillion. The company says it holds a 50% market share in Cambodia. In Laos and East Timor, it enjoys a 47% market share.
Brand Finance, an independent branded business valuation consultancy has released the top 50 Vietnamese Brands 2017 last December, revealing Viettel as the best brand value with US$2.5 billion. In 2017, Viettel's brand value has been triple compared to the Brand Finance's release on 2016. As such, Viettel contributed 22.8% the total value of top 50 Vietnamese Brands ranked by Brand Finance. The telecommunication sector (including Viettel) also has 35% of total value in the top 50 Vietnamese Brands of Vietnam.
