Myanmar took a major step forward this quarter as the market witnessed the launch of the first commercial mobile service from a private operator, introducing competition into the mobile sector. Ooredo o's launch was reportedly met with huge demand with the network struggling to cope with the traffic, having sold the entirety of its allocation of SIM cards within days . Telenor is expected to follow with its own launch in September and we have upgraded our forecasts for the mob ile market as a result of this, with Myanmar set to become the fastest growing market in the world. The influx of foreign capital into the telecoms sector highlights the growth potential we see for Myanmar's telecoms industry . By contrast, we expect investment remains low in Laos and Cambodia, with growth opportunities limited by the low ARPUs, pro minence of prepaid subscribers, fierce competition in overcrowded markets and the uncertain regulatory environment. This last point is a particular concern in Cambodia, where the government is discussing a law that would force mobile network operators to sell their infrastructure to a state-owned investment vehicle . We take a dim view of increased government influence over telecoms markets and, if this law is adopted, we believe some investors would look to withdraw from the market altogether. Operators have spent millions investing over the last 20 years, however, i t is unclear what financial compensation - if any - would be offered by the government in return for the appropriation of these assets , highlighting the major risk to the three markets in the region.