Viettel has new organisation and operation charters

Vietnam's state-owned Viettel has new organisation and operation charters and has been renamed to Military-run Technology Telecom Group (Viettel).

The new decree has changed Viettel's name and corporate structure

The decision was officialised by Decree No.05/2018/ND-CP, amending the organisation and operation charters of Viettel.

Accordingly, Viettel is directly under the Ministry of National Defense and is directly managed by the Central Military Commission. The group, in collaboration with its member companies and subsidiaries, implements political, military, and special defense tasks assigned by the Ministry of Defense, while simultaneously manufacturing and trading according to current regulations.

According to the decree, the prime minister will have the right to officially appoint the chairman of Viettel under the joint proposal of the Ministry of Defence and the Party Committee of the government.

The management board includes one chairman, one general director, and deputy general directors, surveyors, one chief accountant, as well as the advisory staff and internal control group.

According to the new regulations, the number of deputy general directors is not permitted to exceed five. In case the group needs to increase this number, it will have to make a proposal to the Ministry of Defence to report to the prime minister for approval.

Viettel will conduct its equitisation or M&A deals after receiving approval from the prime minister.

At present, Viettel has a charter capital of VND121.52 trillion ($5.35 billion)

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By Ha Vy