NTT Docomo joins Vietnam’s mobile market

NTT Docomo, Japan’s largest mobile phone operator, on August 10 announced that it had invested in a Vietnamese mobile contents provider in a bid to expand its services in the Asia-Pacific region.
In its first investment in Vietnam, the largest Japanese mobile phone company has bought a stake of about 25% in VMG Media Joint Stock Co. for about 370 billion dong or some ¥ 1.4 billion.

Vietnam Posts and Telecommunications Group, Vietnam’s largest telecom operator known as VNPT seizes 29% of share in VMG Media, which was founded in 2006 and currently accounts for a quarter of Vietnam’s mobile contents market.

NTT Docomo has already invested in Indian and the Republic of Korean companies and intends to take advantage of the investment in Vietnam to accelerate its expansion into the growing Asian mobile phone market.

The announcements of Docomo on mobile project and Nestle’s US$270 million project on coffee factory show that Vietnam remains an attractive destination for foreign investors.

Earlier, the Asian Development Bank forecasted that the current crisis in the global financial market will not stop the flow of investments in the medium term to the 11 emerging Asian economies including China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, the Republic of Korea, Taiwan, Thailand and Vietnam.

Tags: NTT Docomo

Posted by VBN on Sep 19 2011. Filed under Telecommunication. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry