The Global Data Service Joint Stock Company, a joint venture between VNPT and Japan’s NTT Communications Group (NTT Com), will start operation in January 2008, state media said.
NTT Com will hold a 40 per cent stake of the US$8 million JV while the Vietnam Posts and Telecommunications Group (VNPT) will own the remaining 60 per cent share.
This is the first JV in data services but the second in the information technology and communication sector since Vietnam joined the World Trade Organization one year ago with the first one established between VNPT and Germany’s DHL Worldwide Express.
The new JV plans to set up a data center in Hanoi in mid 2008 and another in HCM City in early 2009 to provide such services.
The establishment of the two joint ventures just in the first year of Vietnam’s WTO membership has proved foreign investors’ increasing interest in the country’s post and telecommunication and IT sectors, said Phan Tam, Vice Head of the Department of International Cooperation under the Ministry of Information and Communication.
A dozen of major telecom groups in the world such as Vodafone, Comvik, Telenor, NTT DoCoMo and Tata have showed their interests in Vietnam, especially the equitisation of the Viet Nam Mobile Telecom Services Company (MobiFone), he added.
To cope with fierce competition from an increasing number of foreign firms in line with the country’s WTO’s commitments, domestic businesses have intensified administrative reforms and structural rearrangement. They have also improved the quality of operation, services and develop new investment policy.
The ministry is compiling a decree on investment in the post and telecommunications sector while reviewing legal documents to make them conform with the country’s commitments.
A draft decree on the management of the Internet which is expected to encourage every economic sector to supply Internet services, is on the pipeline to be submitted to the Prime Minister for approval in early 2008. (VNA)
Vietnamese
