Viettel Plans to Invest US$100M Overseas
Viettel, one of the three largest telecom service providers in Vietnam, has planned to boost its total investment projects overseas to US$100 million, especially in Indochina.
The corporation will promote its existing projects in Cambodia and eyes other markets, including Laos, Thailand, Myanmar and even Cuba, said Viettel’s Deputy General Director Nguyen Manh Hung.
Viettel plans to partner with several large banks and groups to establish Vietnam-Cambodia Joint Stock Bank. Viettel will contribute US$1.2 million to the bank, equal to a 8 per cent stake of the lender.
The new bank is aimed to provide banking services for Vietnamese corporations and groups operating in Cambodia.
The telecom firm is also planning to contribute VND120 billion to setting up EVN-Cambodia JS Co, which specializes in building hydropower plants in Mekong River.
In February this year, Viettel launched its mobile phone network Metfone that costs US$30 million in Phnom Penh, Cambodia. Metfone is now the fourth largest mobile network in the market.
In Myanmar, the Vietnamese telecom firm completed procedures for opening a representative office to prepare for telecom service provision in this market.
In Thailand, Viettel will build a cable optic route on the mainland. (Vietstock)
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