Japanese telecom giant NTT opens Myanmar unit to offer equipment
BANGKOK, NNA - Japanese telecommunications giant Nippon Telegraph and Telephone Corp. has opened a wholly owned subsidiary in Myanmar for business to capitalize on the growing local telecom market.
NTT Ltd., a London-based firm in charge of the NTT group's overseas business, said last Wednesday it has started up operations at NTT Myanmar after establishing it in Yangon, in February 2019, with capital of $5 million.
With a wholesale license from the Ministry of Commerce, the subsidiary offers telecom equipment and software, as well as information and communication services such as consulting and management of such gear for local corporate users, according to an NTT statement released last week.
It also offers a training program for engineers via sponsored courses at universities.
NTT foresees growing business opportunities in Myanmar as the telecom industry there is expanding by between 6 and 12 percent a year, the statement said. The firm declined to disclose its sales target.
NTT is also set to lay a submarine cable connecting Yangon, Singapore, and the Indian cities of Mumbai and Chennai at a cost of $400 million, seeking to begin its operation in June 2022.
The NTT group's business in Myanmar was formerly undertaken by a Yangon branch of its Thai subsidiary. (NNA/Kyodo)