The Hanoi Telecom JSC received the Prime Minister's decision approving its transformation from a Business Corporation Contract (BCC) to become Vietnamobile Telecommunication JSC in Ha Noi on Tuesday. 

Customers register their service with Vietnamobile Telecommunication in Ha Noi. — Photo cafef.vn

The decision was granted at a ceremony to celebrate the company's 15th anniversary of establishment.

The new company will have three shareholders. Hanoi Telecom JSC will hold 50 per cent of the charter capital, Hutchison Asia Telecom will hold 49 per cent, and Hanoi Telecom's General Director Trinh Minh Chau will hold the remaining one per cent.

With the transformation, Vietnamobile has become the only telecommunication company in Viet Nam operating with investment from a foreign firm.

Being a partnership between Hutchison Telecom Group and Hanoi Telecom, Vietnamobile becomes a member of Hutchison Asian Telecom which comprises mobile telecommunications operations in the emerging markets of Indonesia, Viet Nam and Sri Lanka.

A representative of Hanoi Telecom said that when becoming a joint stock company, besides setting the benefits to customers on top, Vietnamobile would continue introducing new packages and applications with a competitive price to provide the best experience for its users.

Targeted at young customers, Vietnamobile will focus on upgrading its coverage as well as developing infrastructure to become "the door" for entering the world of multi-media and social networking.

Vietnamobile ties its mission to connecting the younger Vietnamese generation with the world through mobile Internet to enhance knowledge as well as providing access to recreational activities such as music and sports, said the representative.

Pham Ngoc Lang, Chairman of Hanoi Telecom, said that the company's goal by 2020 is to become a strong telecom corporation with annual revenue growth of between 20 and 30 per cent.

The chairman also revealed that Vietnamobile would focus on investing in 3G technology and was ready to upgrade to 4G in certain areas where customer requirements were high.

Speaking at the ceremony, Lang said Hanoi Telecom has ceaselessly strived to stake its position in the country's telecom market from being a small telecom company.

Besides the telecom sector, Hanoi Telecom also does business in network security and space security to serve the duties of protecting the nation.

Speaking at the ceremony, the Deputy Minister of Information and Communications, Phan Tam, also asked Hanoi Telecom to boost the business transformation in accordance with the Prime Minister's decision so that Vietnamobile would be operated under a new model, while determining strategies and plans to develop 4G to consolidate its position in the broadband market. 

VNS