Viettel Group introduced but without a management board

The Viettel Corporation officially became the Viettel Group on January 12, made up of eight groups under the direction of the Ministry of Defense.
This group will have no management board. Instead, it will operate under the leadership of the group’s Party Committee and General Director.

According to general director Hoang Anh Xuan, a management board represents owners but state-owned businesses have only one owner – the state – so it is unnecessary to have a management board for Viettel. He said that this model will help make quick decisions.

Under the new model, Viettel is a group with a chartered capital of 50 trillion dong, with state capital making up the majority. Viettel will operate in various fields of business, with telecommunications and information technology as the two main pillars.

The group will also research and develop hardware, software, electronic and telecomunications equipment.

Viettel is running the largest telecom network in Vietnam. Its revenue rose by 1,500 times after ten years, reaching 60 trillion dong in 2009. The group aims to obtain $15 billion revenues in 2015 and $30 billion in 2020.

Tags: Vietnam enterprise, Viettel Group

Posted by VBN on Jan 14 2010. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry