Viettel Global Investment JSC, under Vietnam’s telecommunications giant Viettel, will invest $560 million in the Dominican Republic, establishing a new telecommunications entity named Viettel Dominicana, to operate in the Caribbean nation.
Viettel Global Investment approved the overseas investment in April, according to a Tuesday filling of the firm with the Hanoi Stock Exchange (HNX).
During the first two years, the project will focus on network buildout and core services including mobile telecommunications, fixed broadband internet, and e-wallet services. The next phase will extend into data centers, cloud computing, cybersecurity, IT solutions, and digital logistics.
Viettel Global contributes about $3 billion of revenue to its parent firm annually.
