Telenor will invest just $2b in Myanmar
Norway’s mobile phone giant Telenor, which was one of the firms being granted a license to build up a mobile phone network in Myanmar, has said it will invest not more than $2 billion in the country, down from earlier statements of around $3 billion.
“It is going to be less than what we invested in total in Pakistan. Some analysts have used Pakistan as a benchmark and implied that it could be as much as what we invested in Pakistan, but it will not be,” Telenor CEO Jon Fredrik Baksaas was quoted as saying by Reuters.
The investment amount is much lower than the $15 billion to which Qatar’s Ooredoo, the 2nd license holder, has committed to invest in Myanmar over 15 years.
However, Telenor said it plans to recruit approximately 3,000 Myanmar nationals to provide local communication services in three phases. In the first phase, 25 management level employees who are proficient in business development and strategic planning will be recruited. They will execute administrative duties to launch Telenor Myanmar. The application period for these employment opportunities will be mid-August to September end. Around 2,000 employees will be employed as Telenor’s vendors.
Telenor has appointed Petter Furberg CEO of Telenor Myanmar, effective from when the company receives formal approval from the relevant Myanmar authorities. Telenor will also launch the Telenor Myanmar Academy, a center dedicated to the professional and management skills training of Telenor Myanmar employees.
Earlier in August, Telenor confirmed that it has signed memorandums of understanding with China’s equipment maker Huawei, Ericsson of Sweden and India’s Wipro to develop the mobile phone network in Myanmar. Formal agreements with these companies will be finalised when Telenor receives its operating license. The government has said that the licenses will be issued by the end of September 2013.
[caption id="attachment_14668" align="alignleft" width="300"] Telenor is currently hiring around 3,000 Myanmar staff[/caption] Norway's mobile phone giant Telenor, which was one of the firms being granted a license to build up a mobile phone network in Myanmar, has said it will invest not more than $2 billion in the country, down from earlier statements of around $3 billion. "It is going to be less than what we invested in total in Pakistan. Some analysts have used Pakistan as a benchmark and implied that it could be as much as what we invested in Pakistan, but it will not be," Telenor CEO...
Norway’s mobile phone giant Telenor, which was one of the firms being granted a license to build up a mobile phone network in Myanmar, has said it will invest not more than $2 billion in the country, down from earlier statements of around $3 billion.
“It is going to be less than what we invested in total in Pakistan. Some analysts have used Pakistan as a benchmark and implied that it could be as much as what we invested in Pakistan, but it will not be,” Telenor CEO Jon Fredrik Baksaas was quoted as saying by Reuters.
The investment amount is much lower than the $15 billion to which Qatar’s Ooredoo, the 2nd license holder, has committed to invest in Myanmar over 15 years.
However, Telenor said it plans to recruit approximately 3,000 Myanmar nationals to provide local communication services in three phases. In the first phase, 25 management level employees who are proficient in business development and strategic planning will be recruited. They will execute administrative duties to launch Telenor Myanmar. The application period for these employment opportunities will be mid-August to September end. Around 2,000 employees will be employed as Telenor’s vendors.
Telenor has appointed Petter Furberg CEO of Telenor Myanmar, effective from when the company receives formal approval from the relevant Myanmar authorities. Telenor will also launch the Telenor Myanmar Academy, a center dedicated to the professional and management skills training of Telenor Myanmar employees.
Earlier in August, Telenor confirmed that it has signed memorandums of understanding with China’s equipment maker Huawei, Ericsson of Sweden and India’s Wipro to develop the mobile phone network in Myanmar. Formal agreements with these companies will be finalised when Telenor receives its operating license. The government has said that the licenses will be issued by the end of September 2013.
