Viettel renamed Military Industry and Telecoms Group
Military-run telecommunications group Viettel was officially renamed Viettel Military Industry and Telecoms Group and recognised as the national defence and security enterprise with 100 percent State-owned capital.
Military-run telecommunications group Viettel was officially renamed Viettel Military Industry and Telecoms Group. (Photo courtesy of Viettel)
Hanoi (VNA)- Military-run telecommunications group Viettel was officially renamed ViettelMilitary Industry and Telecoms Group and recognised as the national defence andsecurity enterprise with 100 percent State-owned capital.
The Government haspromulgated Decree No 05/2018/NĐ-CP on the organisational and operationalcharter of Viettel.
Accordingly, the groupwill operate under the management of the National Defence Ministry to implementall political, military and national defence duties as well as production andtrading following laws and regulations.
Viettel includes theparent company, subsidiaries, member companies and associated companies whichimplement both military and business tasks.
Businesses underViettel operate independently and take responsibilities under the law.Contracts, transactions and other relationships between Viettel and firmsjoining the group are required to be established and implemented independentlyand equally.
Viettel’s chartered capital on January 5,2018, was 121.5 trillion VND (5.35 billion USD). The capital will be increasedto 300 trillion VND during 2015-2020.
Viettel’s managementorganisational structure includes a chairman, a general director, deputygeneral directors, surveyors, chief accountant and internal control.
A chairman cum generaldirector will be the State representative to Viettel to implement all rightsand duties. The chairman will be nominated by the Prime Minister upon theNational Defence Ministry’s proposal and agreement of the PartyCentral Committee.
According to the neworganisational and operational charter, Viettel will have no more than fivedeputy general directors.
The company will beallowed to diversify ownership if the Prime Minister decides to implement its equitisation,transferring a part of the total State-owned capital to the group.
The national defenceand security enterprise is a State-owned company which is established orrestructured to implement regular and stable tasks in sectors and areas servingthe cause of national defence or ensuring a national secret.-VNA
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Military-run telecommunications group Viettel was officially renamed Viettel Military Industry and Telecoms Group. (Photo courtesy of Viettel) 
