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GRAND OPENING OF THE BEST TELECOM COMPANY LIMITED

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Best Telecom Co., Ltd. was officially launched in the evening of 19th March 2021 as Crowne Plaza Hotel. The lead in ceremony were Mr. Khamkhit Xaysongkham, Director General of the Department of Communications, Ministry of Defense and Chairman of the Board of Directors of Best Telecom Co., Ltd.; Mrs. Kingphongeun Phoummasack, Managing Director of Best Telecom Co., Ltd. and CEO of AIF Group; Mr. Somdee Duangdee, Deputy Prime Minister and Minister of Finance. The ceremony was also participated by ministers, deputy ministers, director generals, and head of division from related authorities together with key person from AIF Group and media press.

️ In the ceremony, Mr. Khamkhit Xaysongkham gave a speech about the background before the establishment of Best Telecom Co., Ltd. which is a joint venture company between Sky Telecom Co., Ltd. and BSK Investment and Services Co., Ltd. The joint venture was formed by Ministry of Defense pursuant to its Decision No. 591, dated on 21st January 2021 on the restructuring of Sky Telecom State-owned Co. and authorise Sky Telecom and BSK to set up a joint venture company, Best Telecom in accordance with the joint venture agreement dated on 18th March 2021.

️ In order to make Lao economy progressed efficiently and turned gradually into proper legislation; and by following the Government announcement No. 1901 dated on 11/11/2015, the Sky Telecom State-owned Co. and BSK Investment and Services Co., Ltd. already signed a partnership agreement on 28/11/2017. BSK will be responsible for general customer services and invest more in new service points for telecommunication both domestic and abroad. Since then, BSK has fulfilled its obligations under the bilateral agreement to serve the general customer service and can generate satisfactory revenue in 2018, an increase of more than 24% compared to the previous year. It has also contributed to the investment in expanding the system of equipment and communication point at border crossings to serve foreign customers effectively. Therefore, in order to determine the plan to develop the existing infrastructure to keep up with the fast-growing pace of telecommunications technology in each period as well as setting a strategy for telecommunications services to diversify the product in terms of quality and modernness in aiming to achieve business transformation as a whole; the joint venture has proposed to change the business model of Sky Telecom State-owned Co. to a joint venture company, Best Telecom Co., Ltd., in accordance with the rules and regulations of the Government Office, as agreed by the Minister of Defense and the joint venture agreement.

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