Telecom giant Viettel gets approval to establish subsidiaries in six countries

Bich Phuong Thursday | 06/04/2020 16:31

Mytel, an arm of Viettel, is the 4th network operator in Myanmar. Photo: soha.vn

The Military Industry and Telecommunications Group (known as Viettel) got approval from the government to set up subsidiaries in the remaining six of the 10 countries where it operates without a subsidiary.

The Vietnamese telecom giant got permission to open subsidiaries in Mozambique, Tanzania, Timor Leste, Burundi, Haiti, and Cambodia.

Prime Minister Nguyen Xuan Phuc assigned the Ministry of Defense to direct Viettel to establish the above companies in accordance with the provisions of Vietnamese law and the laws of the countries where enterprises operate and ensuring the establishment of the right objectives, effective use of Viettel's capital invested abroad, said the government news portal.

The other four countries it operates in are Laos, Peru, Cameroon, and Myanmar.

In a global ranking released last month by Brand Finance, a British brand valuation consultancy, Viettel, Vietnam’s largest telecommunication service provider, jumped nine places to 28th with its brand valued at $5.8 billion, up 34.4 percent from a year earlier, VnExpress reported.