Vietnam’s biggest telecom company asked to invest in Uganda

Ugandan officials, investors and business persons have visited Vietnam’s biggest telecom company, Viettel Business Solutions Corporation as part of the ongoing Uganda-Vietnam investment and business summit in Hanoi.

The officials were led by Uganda’s State Minister for Foreign Affairs, Henry Okello Oryem together with Dr. James Mwangi, the CEO of Equity Group.

Speaking during the visit, Oryem invited Viettel to invest in Uganda, having had an interest some years back.

“In 2014, Viettel wanted to invest in Uganda Telecom but lost interest given that Libya was already an investor. We are welcoming you back to invest to Uganda,” Oryem said.

Dr James Mwangi who spoke on behalf of the private sector thanked the Viettel team and the government of Uganda and their Vietnamese government for acknowledging the importance of the private sector in investment and development of the two countries.

“Uganda is more than what you see. It is the heart of the East African Community which has a market population of 300million,” Dr. James Mwangi said.

He reiterated Minister Oryem’s earlier invite for the telecom company to invest in Uganda.

The honorary Consul of Vietnam to Uganda King Ceasor Mulenga encouraged Ugandans to learn from areas of innovation, technology, value addition and green economy to develop the East African country’s economy.

About Viettel

Viettel Telecom is currently the dominant network operator with the largest market share in Vietnamese telecommunications services market.

For 30 years, the company  has grown from a construction company to a complex of five business lines including telecommunications and information technology (IT); research and manufacture of electronic and telecommunications equipment; defense industry; cyber security and digital services.

Viettel is considered one of the largest and most effective state-owned enterprises of Vietnam, thanks to its highest revenue, largest contribution to the state budget and highest brand.

It is a state-owned enterprise and operated by the Ministry of Defence in Vietnam.

As of 2018, Viettel had 50,000 employees inside and outside the countryand served 110 million subscribers.

The summit organised by the honorary Consul of Vietnam to Uganda King Ceasor Mulenga, Private Sector Foundation Uganda, Uganda Investment Authority  and sponsored by Equity Bank Uganda is aimed at  creating  trade and investment opportunities for both Uganda and Vietnam.