Viettel to pump USD33m into Viettel America Company

19 Jun 2013

According to various Vietnamese media reports, the country’s prime minister Nguyen Tan Dung, has approved Viettel Group’s plan to set up a new US-based offshoot, called Viettel America Company. The US subsidiary will have a market capitalisation of more than USD33 million.

Although details on the venture remain sketchy, the US represents a potentially lucrative market for the military-backed mobile group, which has expanded outside of its domestic market in recent years, securing operations or licences in Laos, Cambodia, Mozambique, Haiti, Timor-Leste, Cameroon, Peru and Tanzania.

The US is home to an estimated 1.55 million Vietnamese citizens, underlining the country’s appeal to the Viettel Group.

United States, Viettel Group