NAY PYI TAW, Jan. 12 (Xinhua) -- Myanmar's Ministry of Transportation and Communication granted on Thursday the fourth telecommunication operator to operate in the country.
Myanmar National Tele & Communications Co. Ltd, which is a joint venture between local companies and Vietnam's Defense Ministry-owned Viettel, becomes the fourth operator with a 15-year license.
The operator has to pay the government 300 million U.S. dollars as license fees and network fees.
The Viettel is holding 49 percent of the stake of the joint venture while 51 percent is owned by Myanmar National Telecom Holding Public Limited and Star High Public Co. Ltd, said U Thant Sin Maung, Minister for Transportation and Communications.
Myanmar National Telecom Holding Public Limited is a local consortium of 11 companies and Star High Public Co. Ltd is a subsidiary of Myanmar Economic Corporation.
The ministry formed Joint Venture Formation and Tender Selection Work Committee and hired Roland Berger Consultant as an adviser in order to select the foreign partner.
"It will take a year for the distribution of SIM cards. The company targets the rural areas and will create about 6,000 job opportunities directly," said U Zaw Min Oo, Chief Financial Officer of Myanmar National Tele & Communications Co. Ltd.
At present, the three operators providing services in the country are Norway-based Telenor, Qatar-based Ooredoo and government-owned Myanmar Post and Telecommunications (MPT).
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