Telenor President assures to remain engaged in India

Nay Pyi Taw, June 7 (ANI): The President and CEO of Telenor Group, Jon Fredrik Baksaas, has conveyed Telenor's commitment to stay engaged and improve its presence in India.

Telenor President also communicated his appreciation for the Government's intervention to work out a solution for the protection of the investment of the telecom companies to Union Commerce, Industry and Textiles Minister Anand Sharma, who met him here today.

"This has been reassuring for Telenor and other investors," said Baksaas to Sharma. Baksaas also raised the issue of the pending matters on their investment.

Sharma assured Telenor President that the same would be expedited with the relevant authorities.

The Indian Commerce, Industry and Textiles Minister also met U Myat Hein, Minister of Communications and Information Technology, Myanmar, here today.

The two Ministers discussed the selection process for telecom companies, which is going on in Myanmar.

Keeping in mind the geographical contiguity and strategic interest, Sharma said that the bids of the short listed Indian companies may seriously be considered.

U Myat Hein conveyed Sharma that he had full faith in the capacity of the Indian companies to compete in the process, which he assured, will be fully transparent and open.

The two Ministers also discussed investment related issues. Sharma conveyed to the U Myat Hein that both the countries have potential for future collaboration in oil and gas exploration, infrastructure, IT, pharmaceutical, manufacturing and education and skill development.

He said that over the next few years, "we will see an investment of around USD 2.6 billion from India to Myanmar." India is the tenth largest investor in Myanmar with an investment estimated at USD 273.5 million. (ANI)