Vietnam’s Ministry of Post and Telematics (MPT) will announce a decree next year laying down the legal foundation for foreign investment once local telcos are privatised. The ruling will be part of the government’s preparation for entry into the World Trade Organisation (WTO). An existing Vietnam-US bilateral trade agreement will allow joint ventures with up to a 49% US stake to offer basic telecoms services from December 2007. To date no US investor has requested a telecoms licence, but it is expected the floodgates will open once Vietnam enters the WTO and its state-owned operators are privatised. Telecoms is reported to be the fastest growing sector in the country. According to TeleGeography’s GlobalComms database, mobile subscriptions increased by 80% in the year to 30 June 2006.