Telecom sector received FDI of over US$2.8 billion

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Passengers use mobile phones as they take a ferry in the Yangon River. Photo: Phoe Khwar

The telecommunications sector attracted foreign direct investments (FDI) of over US$2.8billion over the past two years, receiving investments from Japan, Norway and Qatar.
The telecoms sector is projected to support 5 per cent of Myanmar’s GDP in five years, with increasing FDI entering, according to the existing three operators Myanmar Posts and Telecommunications (MPT), Ooredoo and Telenor. Additionally, the telecoms industry is expected to employ 250,000 local residents in five years.  The fourth telecom, Myanmar National Tele & Communications (MNTC), in cooperation with Viet Nam’s Viettel Company, will reportedly launch its service in 2018, following its operator’s license that was granted on 12th Jan 2017. — Ko Htet

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