Myanmar authorities issued a total of 123 licenses to companies in the booming telecommunications sector in the past two years, official media reported last week.
The licenses were granted to 85 foreign and 38 local companies by the Post and Telecommunications Department. They covered business activities including network facilities services, application services and nationwide telecoms services.
At present, the three existing operators providing services in the country are Norway-based Telenor, Qatar-based Ooredoo and government-owned Myanmar Post and Telecommunications (MPT).
The department has plans to issue more licenses to both local and foreign firms.
According to official statistics, foreign investments were mostly injected into the transport and communication sector with $3.08 billion in the past 2016-2017 fiscal year.
That figure is a significant proportion of the total $8.154 billion of foreign investment that flowed into the telecommunication sector from late 1988 to March this year.
Source: Myanmar Business Today
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