GMO Internet launches internet infrastructure services with AMZ Group in Laos
BANGKOK, NNA – Japan’s internet and financial service firm GMO Internet Inc. has teamed up with a diversified business group in Laos to launch internet infrastructure services to tap the underdeveloped market.
It said Tuesday that GMO-Z.com Lao Co., a joint venture with AMZ Group Solo Co., a local subsidiary of Lao trading firm AMZ Group Co., started providing such services as domain registration, hosting, cloud server and electronic certificate issuance in local currency and language.
The local venture, established in August with a capital of 2.4 billion kip ($271,500), is 51 percent owned by the Tokyo-listed company via GMO-Z.com Pte. Ltd., a 100 percent subsidiary in Singapore, and the Lao partner with the remainder, according to GMO Internet’s statement.
Japan’s engineer-oriented firm, which also offers online brokerage and cryptocurrency exchange among other services, is expanding overseas sales through its subsidiaries in Asian markets like Hong Kong, Singapore, and Thailand in addition to those in Europe and the United States.
The Lao government is stepping up its efforts to enhance information technology infrastructure and talent developments because it lags in that field. Internet and mobile phone penetration rates were 21.9 percent and 55 percent in 2017, respectively, in Laos – Southeast Asia’s smallest economy – according to the International Telecommunication Union.
In Myanmar, the Philippines, and Singapore, the Japanese company operates internet infrastructure services under its Z.com brand, according to its website.