As Viettel has expanded business production, its official name changes
The document also articulates that Viettel is a 100% State-owned business specializing in defense and security, which is placed under the leadership of the Central Military Commission and directly belongs to the National Defense Ministry. Alongside doing business and developing commercial products, Viettel implements special political, defense-military missions assigned by the State and Ministry of National Defense.
Viettel has the new official name: “The Military-Run Industry and Telecommunication Group”. (Photo: dantri.com.vn)
Specifically, the company is responsible for building, managing and maintaining a national-scale infrastructural telecommunication network, which serves as a reserved defense-security communication network in peacetime and will officially serve defense-security missions in negative situations. Next, it must be ready to provide telecommunication services on request. And it is responsible for researching, designing, manufacturing and repairing defense devices, products, equipment, vehicles and platforms at the request of the State and National Defense Ministry.
On the other hand, as an enterprise, Viettel can do business, produce commercial products, trade services under the laws, invest in projects or other companies, and cooperate with foreign partners, under the laws.
Viettel’s registered capital, announced on January 5, 2018, is VND 121,520 billion; under its plan, it will raise its registered capital to VND 300,000 billion by the end of 2020.
The Government has also defined the rights and obligations of the State ownership representative for all Viettel’s operations under the laws. Accordingly, the Government, Prime Minister, National Defense Ministry and involved ministries will perform the rights and obligations as the State ownership representative for Viettel under the laws and related regulations while the Chairman of the Viettel Board of Directors will directly exercise the rights and obligations as the State ownership representative for Viettel under the laws and related regulations.
The Decree also specifies the rights and obligations of Viettel, agencies and individuals representing the State ownership at Viettel.
The management superstructure of Viettel comprises its Chairman, General Director, Deputy-General Directors, Controller, Chief Accountant, Staff Office and Internal Security Office. Major General Nguyen Manh Hung was appointed Viettel’s Chairman cum Director General.