VNPT enters into joint venture with Myanmar firm
StreamNet, a joint venture between Vietnam Posts and Telecommunications Group (VNPT) and Myanmar’s Elite Telecom Public Co., Ltd., was launched in Yangon on October 27 in the presence of Minister of Information and Communications Truong Minh Tuan.
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According to Chairman of VNPT’s Member Council Tran Manh Hung, the group opened a representative office in Myanmar in 2014, aiming to help the group invest in the country.
VNPT and Elite Telecom Public became partners in 2015, and established the US$15 million joint venture last September, in which VNPT accounts for 67% of shares.
Telecom operator StreamNet will offer services including FTTs, Leased Line VPNs, IP transit, satellites, domain names, web hosting and more.
In his remarks at the launch ceremony, Minister Tuan said the establishment of StreamNet to develop telecom infrastructure and provide broadband services in Myanmar between firms from the two countries reflects the success of the Vietnam-Myanmar comprehensive partnership.
He said he believes StreamNet will help achieve the Myanmar government’s goals of developing the local telecoms market.
