Vietnam Licenses US$650-Mln CDMA Mobile Phone Network

3:26:30 PM | 7/8/2005

Vietnam Licenses US$650-Mln CDMA Mobile Phone Network

 

 Vietnam’s Ministry of Planning & Investment this morning officially licensed a US$650-million mobile phone network, a 50:50 joint venture between Vietnam's Hanoi Telecoms Co. and Belgium-based Hutchison Telecommunications Co.

 

This has raised the total value of foreign direct investment (FDI) that Vietnam has licensed so far this year to US$1 billion.

 

According to the license, the joint venture will develop a mobile phone network throughout Vietnam, using CDMA2000 technologies.

 

The joint venture, which has a lifespan of 15 years, is subject to a corporate income tax rate of 28 per cent. It will be exempted from corporate income tax for the first two profit-making years and be offered a 50 per cent reduction for the subsequent three years.

  • Vietnam & World Economy