Putting an end to all speculations of exiting Myanmar, Doha-based international telecom company Ooredoo has announced new investments in the country this year. It has also changed its pricing strategy in the country and turned more affordable to the mass.
Ooredoo’s Chief Executive Officer in Myanmar called the new developments as ‘mass market approach’. The company had slashed data prices from 10 kyats ($0.009) per MB to 6 kyats per MB last year. It is also on the verge of expanding its distribution network. The revamped strategies are in the wake of stiff competitions from Norway’s Telenor and market leader, state-backed Myanma Posts and Telecommunications (MPT). Ooredoo has the least number of subscribers compared to Telenor and MPT, which boast of 12 million and 18 million subscribers respectively.
The company has plans to invest $350 million this year. Since the commencement of operations in 2014, it already invested $1.7 billion and the new investment adds up to it. “We don’t see any slowdown in investment, any slowdown in executing our strategic initial plans for Myanmar,” Meza said in an interview to Reuters. “Our commitment to continuing investing remains pretty much intact,” he added.
Besides Myanmar, Ooredoo has expanded its horizons to countries like Indonesia and Pakistan but has resulted in varying success. In 2015, the company sold a stake in Philippines’ Liberty Telecommunications.