The transfer of state capital in FPT Telecom from SCIC to the ministry of public security took place on the morning of 16/7/2025.
Nguyen Quoc Huy, general director of SCIC, said the transfer follows the policy of the communist party and the state on the arrangement and management of state capital in enterprises. This capital transfer is a strategic decision regarding national security, data, and digital transformation in the new era.
Huy said FPT Telecom is one of the pioneering telecommunications and technology companies in Vietnam. He believes the company will have more favorable conditions to grow stronger in the future.
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Representatives of the ministry of public security and SCIC signing the handover agreement, morning of 16/7. Photo: Linh Dan |
FPT Telecom was established over 28 years ago, in 1/1997, originating from the online service center founded by 4 members with Vietnam's first internet product named "Tri Tue Viet Nam – TTVN". The product was introduced as laying the foundation for the development of the internet in Vietnam.
The company is a provider of telecommunications and internet services. Before the transfer of state capital to the ministry of public security, it had two major shareholders: SCIC holding 50.2% of shares and FPT corporation owning 45.7%.
In 2024, the company recorded net revenue of 17,610 billion VND and pre-tax profit of 3,588 billion VND, up 11% and 18% year-on-year, respectively. These are the highest results the company has achieved since its establishment.
This year, FPT Telecom aims to bring in 19,900 billion VND in revenue, a 13% increase compared to the same period last year. Of which, revenue from telecommunications is expected to increase by 13%, reaching 19,100 billion VND, the rest coming from digital content. The company's pre-tax profit target is 4,200 billion VND, a 17% increase. If it achieves this target, FPT Telecom will reach a new record in revenue and profit.
Previously, at the end of February, the ministry of public security also took over the state's ownership in MobiFone from the committee for management of state capital at enterprises. MobiFone was previously under the management of this committee, but according to the plan to streamline the government's organizational structure, the committee ceased operations.
