Viettel becomes military’s first economic group

13/01/2010

The Ministry of National Defense’s upgraded its telecom company Viettel into an economic group January 12.

A ceremony held in Hanoi January 12 marked the upgrade of the military’s telecom company, Viettel, into the Viettel Group (Photo: dddn)

A board of directors will run the group under a general director who will be nominated by the Minister of National Defense.

The military set up Viettel in 1999. Its turnover has increased from VND40 billion (US$2 million) then to VND60 trillion last year.

Viettel holds a 37.5 percent share of the country’s telecom market, including a 42.5 percent share of its mobile phone market.

Viettel has the largest network with 24,000 base transmission stations and 100,000 kilometers of cable covering every district in the country and 75 percent of its communes.

It became the first telecom company to invest abroad, setting up telecom networks in Laos and Cambodia.

By Tr.Luu – Translated by Hai Mien