Ooredoo announced a partnership with the internet incubator Rocket Internet to jointly develop eCommerce and other digital services in Asia. Ooredoo and Rocket Internet will become equal partners in Asia Internet Holding, a joint venture that will create and develop online businesses in the region. E-commerce is part of Ooredoo's strategy to invest in new businesses that provide growth opportunities and develop new revenue streams. Increasing disposable income and internet penetration are key drivers for eCommerce growth in Asia, and Ooredoo and Rocket said they are keen to benefit from this trend.
Asia Internet will cover 15 markets in Asia, including Pakistan, Myanmar, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia, with ventures ranging from online retail and marketplaces to payment services. This investment is subject to the approval of the regulatory authorities in the countries where the service will be provided, and it is expected to be concluded in the second quarter.
