According to the office of President Jakaya Kikwete, Viettel chairman, Manh Nguyen Hung, made the investment commitment at the company’s headquarters in Vietnam.
Apparently, Kikwete had visited the head offices of Viettel on Monday this week.
“Viettel will invest $1 billion in telecoms and other services in Tanzania, hence making Tanzania the second country after Peru to receive its state-of-the-art telecoms technology,” Reuters quoted the Tanzanian Presidency as having said.
The telecom service provider will offer low-cost smartphones and free internet services to schools, hospitals and offices, the Presidency added. Viettel is operated by
Vietnam’s Department of Defence. It was awarded its Peruvian mobile licence in 2012.
Tanzania’s mobile telecoms sector has surged rapidly over the past 10 years, boosted by demand for 3G mobile services. There are almost 29 million mobile subscribers in the country, which is equivalent to 64 percent market penetration, according to Reuters. Tanzania gave Viettel a mobile phone network earlier this month and is likely to start its mobile services in July 2015.
Viettel is set to compete with Bharti Airtel, Zantel, Vodacom Tanzania and Tigo Tanzania in the Tanzanian market.
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