Viettel green-lighted to set up overseas subsidiaries

VOV.VN - The Prime Minister has allowed the Military Industry and Telecoms Group (Viettel) to set up overseas subsidiaries in six countries, including Mozambique, Tanzania, East Timor, Burundi, Haiti, and Cambodia, according to a statement made by the Government Office on June 3.

viettel green-lighted to set up overseas subsidiaries  hinh 0
The  Prime Minister has assigned the Ministry of Defense with the task of directing Viettel to set up these subsidiaries in line with provisions set out within Vietnamese law, while also following the respective laws of the countries where Viettel’s subsidiaries will be operating in.

In addition, the establishment of the overseas subsidiaries is required to meet Viettel’s objectives in ensuring the effective use of the group’s investment capital abroad.

The Prime Minister has also requested that the Ministry of Defense regularly manage and supervise the operations of these subsidiary firms, move to intensify measures in order to prevent potential risks, and promptly handle any issues that come up, or alternatively report them to competent agencies who can.

At present, Viettel is the largest telecommunications service provider nationwide. It is considered to be one of the largest and most effective state-owned enterprises in the country and enjoys the highest level of revenue, therefore making it the largest contributor to the State budget while also having the highest brand value.

The group has been doing business in 13 countries in Asia, America and Africa, with a market size totaling 270 million people, triple the population of Vietnam.

VOV

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