Vietnamese technology company FPT has become the first 100% foreign-owned company to secure a fixed-line services license in Myanmar.
The company has been granted a 15-year license to provide fixed phone and internet services in the nation, Reuters reported. The company plans to focus on providing high-quality internet services.
The license will also allow FPT to provide online games, news and other websites and e-commerce services targeting the market.
FPT launched a subsidiary in Myanmar in 2013. FPT Myanmar offers services including enterprise resource planning, system integration, accounting software and banking software.
The company also offers training courses in areas including mobile programming and software project management. Its Myanmar operations earned revenue of $13.5 million last year.
Competition in Myanmar's underdeveloped telecom sector has been ramping up since the government liberalized the market with the allocation of two nationwide telecom licenses to Telenor and Ooredoo in 2014.
State-owned former monopoly operator MPT and its partners, Japan's KDDI and Sumitomo, recently revealed plans to expand MPT's network of base stations in operation across the country to 5,000, from 2,000 today. The company also cut its voice rates to below those offered by Telenor Myanmar and Ooredoo Myanmar to help better compete against its rivals.