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Hutchison Telecom Expands into Vietnam Market

Posted on: Saturday, 19 February 2005, 09:00 CST

Hutchison Telecom expands into Vietnam market

HONG KONG, Feb. 18 (Xinhua) -- Hutchison Telecommunications International Limited (Hutchison Telecom) announced Friday that its wholly owned subsidiary has been permitted by the Vietnamese government to build, operate and develop a mobile telecommunications network with Hanoi Telecommunication Joint Stock Company.

Hutchison Telecom, a Hong Kong-headquartered international provider of mobiles and fixed-line telecommunications service, said its wholly owned subsidiary -- Hutchison Telecommunications ( Vietnam), had received the investment license from Vietnam's Ministry of Planning and Investment to engage in business operation under a Business Cooperation Contract (BBC) with the Vietnamese company.

Under the BBC, the business cooperation will develop a CDMA2000 network to provide mobile telecommunications services in Vietnam. The license has been granted for the duration of 15 years.

Commenting on the company's expansion into the Vietnam market, Dennis Lui, chief executive officer of Hutchison Telecom's operations, said: "We are delighted to have been awarded the license and are excited at the prospect of expanding Hutchison Telecom's operations into Vietnam."

Lui said "by braining our expertise and tract record of developing new mobile networks together with Hanoi Telecom and its shareholders knowledge and experience in the Vietnam business environment, we believe that we are well positioned to establish a leading operation in a telecom market that has huge growth potential."

Source: Xinhua News Agency - CEIS

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