VietNamNet Bridge - Viettel Global and Myanmar’s state-owned telecom operator - Yatanarpon Teleport - are awaiting the approval for an investment of at least $800 million to build a telecom network.

Myanmar is a potential market for telecom services.

Myanmar is one of the fastest-growing telecom markets in the world, as only 4% of the 53 million people have mobile phones.

Last month, Viettel Global, the overseas investment subsidiary of Viettel, announced the plan to contribute $800 million to develop a telecom network with a partner from Myanmar.

Yan Win - Yatanarpon board member - said they had finished negotiations with Viettel and were waiting for the approval of shareholders. The total investment for this affair will amount to $1.8-2 billion, Reuters quoted a Vietnamese official.

In the plan announced last month, Viettel Global said the remaining capital will be raised by the Myanmar partner and a joint venture between two sides.

However, Mr. Le Dang Dung, Viettel Deputy General Director, told the Saigon Times yesterday that Viettel plans a joint venture with Yatanarpon to launch the fourth mobile network in Myanmar.

Dung said the two sides would contribute 50% capital each to form this network and Viettel plans to contribute about $1.5 billion.

Although Dung refused to say when Viettel would be allowed to invest in Myanmar, some international newspapers said that Viettel will soon be licensed to operate in the country.

The number of telephone users in Myanmar has increased significantly in recent months, after two foreign operators, Telenor (Norway) and Ooredoo (Qatar), began offering telecom services here.

MPT- the only telecom network in Myanmar at present - has also expanded its SIM distribution network. Recently, they also cooperated with two Japanese firms - KDDI and Sumitomo. The two companies said that they would pour $2 billion into the MPT.

Last year, Viettel participated in the tender for the two telecom business licenses in Myanmar, but it did not win.

Yatanarpon is the fourth company with a telecom business license in Myanmar.

S. Tung