Giant software company FPT announced on July 10 that it will provide fixed telecoms and internet services in Myanmar, becoming the first 100-per cent foreign-owned firm to operate in telecoms in the country.
Myanmar's communications and technology ministry granted FPT a 15-year licence early this week, which will also allow FPT to provide telecom services on NFS (I) or network facilities. It also provides online games, e-news, websites, e-commerce services, domains and hosting, said FPT.
Currently, six Myanmar corporations have received the NFS (I) licence, while FPT is the first foreign company to be licensed.
Duong Trieu Dung, general director of FPT Global, said FPT's capacity and experience in providing telecom services in developing countries, such as Cambodia and Vietnam, and its long-term commitment to investment, was the reason that Myanmar's communications and technology ministry agreed to allow FPT to invest in the country.
Being awarded the licence will add to the development of FPT in this market, as well as its global strategy. After telecoms, software, training and e-gov’t services, FPT will have a serious opportunity to compete with other investors in this market, Dung said.
FPT Myanmar, established in 2013, had revenues of 13.5 million USD last year in Myanmar, while employing 60 workers.
Myanmar has a population of about 56 million people. Cellphone usage has soared in the past year since foreign operators started providing services in the wake of the opening up of its nascent telecoms sector.
According to the Asian Development Bank (ADB), Myanmar will see an annual economic growth rate of 9.5 percent by 2030.
