Ecton to Invest US$250Mln in Broadband Internet in Vietnam
Sweden-based telecom firm Ecton plans to invest around US$250 million in broadband Internet in Vietnam during the next five years in a move to gain a dominant role in the local market.
David Pham Vu, CEO of Ecton USA, which represents Ecton in Vietnam, said his company would supply broadband-based services like Voice-over-Internet-Protocol telephone, video-on-demand, digital television, Bluetooth, Wi-Fi and WiMAX.
Ecton plans to supply these services nationwide beginning in 2006 and expects 30,000 customers in its first year. Pham said Ecton hopes to gain one million customers within 10 years.
The group also expects to export US$50 million or more worth of products and services a year starting in 2007, he said.
Ecton USA opened a representative office in Vietnam on October 1. It is currently building a station for Voice-over-Internet-Protocol telephone and video-on-demand in Hanoi and a customer service center in Ho Chi Minh City.
Ecton is the major telecom provider for Scandinavia. Beside Vietnam, it also operates offices in the US, Australia, India, Russia and Romania.
Under trade agreements with other countries, Vietnam will open up its telecom market to foreign companies in 2006. Currently, most foreign-invested projects in this sector are under the form of a business cooperation contract.
Saigon Times Daily
Vietnamese
