HA NOI – Viettel, the country's leading telecom firm, said it will invest in a mobilephone network in Timor Leste (East Timor) as part of its global business expansion plan.
The military-run firm will establish an affiliate in the Southeast Asian island nation under the name of Viettel Timor Leste, with an initial investment of US$15 million to carry out the project.
According to the Timor Leste Ministry of Infrastructure's website, Viettel and Telin of Indonesia both received licences to invest in mobile networks in the country of 1 million.
While Telin vowed to provide 94 per cent of the population with mobile service and 3G (third generation) Internet access in the next six months, Viettel pledged to supply the same services to 95 per cent of Timor Leste's population in the next three years.
Viettel's project in Timor Leste will bring the number of its worldwide subsidiaries to six. The others are in Laos, Cambodia, Haiti, Mozambique and Peru.
The company, which in May this year launched its first African mobile network in Mozambique, said it also plans to invest in a mobile network in the South American country of El Salvador.
Ranked the 15th largest telecom firm in the world, the company last year earned a turnover of $6 billion, registering an annual growth rate of 20 per cent. - VNS