HANOI – Vietnam’s military-run telecommunication company Viettel Group and its partners will launch the first 4G mobile network in Myanmar next month to cash in on the Southeast Asian country’s fast-growing economy, the Vietnamese government says.

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.

Mytel, which is worth $US1.5 billion, will be the first 4G mobile phone network and the fourth telecom operator in Myanmar, the government said.

“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’s economic growth is seen rebounding to 7 percent-7.5 percent over the medium term, from lower-than-expected growth of 5.9 percent last year, supported by foreign direct investment and improvement in public investment, according to the International Monetary Fund.

Reuters