Telecom firm MobiFone to be managed by Ministry of Public Security

By Phuong Dung January 13, 2025 | 01:22 am PT

The logo of MobiFone seen in front of its building in Cau Giay District, Hanoi. Photo acquired by VnExpress

The state-owned MobiFone Telecommunications Corporation is set to be managed by the Ministry of Public Security, according to a proposal.

As the Commission for Management of State Capital at Enterprises (CMSC) is set to be dissolved, all 19 state-owned corporations under it will be transferred to ministries for management.

The Ministry of Home Affairs has proposed to the Government's Steering Committee to move MobiFone to the Ministry of Public Security.

MobiFone, established in 1993, is Vietnam’s first telecom operator.

In 2014 it was managed by the Ministry of Information and Communications and in 2018 it was moved to the jurisdiction of CMSC.

It accounts for 30% of Vietnam’s telecom market and posted a pre-tax profit of VND2.05 trillion (US$80.73 million) last year.

18 other state-owned companies will be managed by the Ministry of Finance.