MobiFone targets Vietnam’s national defence and security sector

Details: John Tanner; Category: Enterprise Ecosystems; 18 April 2025; 3495 views

Vietnamese state telco MobiFone has reportedly applied to prime minister Phạm Minh Chính for approval to enter the country’s national defence and security sector as part of its future growth strategy.

According to the official Vietnam News Service, Mobifone said at a working session this week held by the Ministry of Public Security that it has completed key procedures to operate under the special mechanism of a defence and security enterprise, including proposing a new organisational charter.

Mobifone also said it’s working with relevant units to revise its financial regulations and internal processes to support the new role.

The Public Security ministry took control of Mobifone from the Commission for the Management of State Capital at Enterprises (CMSC) in February this year. The report said that the transfer aligns with the goals of the government’s “Project 06” initiative to drive Vietnam’s digital transformation.

The report added that MobiFone will have more opportunities under the ministry to develop digital infrastructure that meets the government’s requirements for a digital government, economy and society.

Public Security minister General Lương Tam Quang said at the meeting on Tuesday that MobiFone needs to focus on building a strong legal framework to support its general operations, which will enable more stable and sustainable development as it prepares to enter the national security sector, the report said.

Quang also instructed Mobifone to focus on exploring its core strengths to develop effective telecoms and technology products that serve both the company’s growth and the national interest, the report added.

According to figures from CMSC released at the end of last year, MobiFone's profit before tax in 2024 was estimated at over VND2 trillion (US$78.2 million), beating its annual target by 20.6%. Its digital services such as cloud, digital agriculture and video conferencing are also seeing significant growth rates, the report said.