Government Authority Acquires State-held Stocks in FPT Telecom Company
The Ministry of Public Security (MPS) of Vietnam has taken on state ownership of shares in FPT Telecom Joint Stock Company, marking a significant step in the consolidation of government stakes in major telecom enterprises by the Ministry. This move comes following the Ministry's earlier takeover of MobiFone in February 2025 [1][3].
The acquisition of FPT Telecom shares is part of a broader strategic positioning by the Ministry in the telecom sector, as Vietnam gears up for a stock market status upgrade to FTSE in September 2025 [3]. State-related entities and strategic sectors are seen as key drivers for market and economic growth in this context.
SCIC General Director Nguyen Quoc Huy expressed confidence that the MPS would leverage its potential to create favorable conditions for FPT Telecom's growth, playing an important role in Project 06, which aims to build a digital government, digital society, and national data platforms [2].
Major General Pham Truong Giang, director of the MPS' Financial Planning Department, stated that functional units under the ministry would complete transfer procedures efficiently and synchronously. He added that legal frameworks would be perfected, and policies would be put into place to stabilise the organisation for FPT Telecom staff to continue their tasks [2].
The ceremony for the transfer of the State ownership rights in FPT Telecom took place in Ha Noi on Wednesday. The transfer aims to strengthen the MPS's capacity to fulfil its tasks related to national security protection, maintain social order and safety, especially in the areas of cybersecurity, information security, and specialised telecommunications [2].
The transfer of the State ownership rights in FPT Telecom is from the State Capital Investment Corporation (SCIC) to the MPS. This move suggests a stronger governmental oversight and influence in the internet and telecommunications industry, possibly aiming for enhanced cybersecurity, control, and regulated development within this critical sector [1].
The acquisition aligns with Vietnam’s efforts to attract large foreign direct investment (FDI) while ensuring strategic state entities have active roles in important technology and communications firms, which support national security and economic priorities [2]. The move could also contribute to investor confidence in Vietnam’s market by showing government commitment to key technological sectors during a period of expected market upgrade and foreign investment influx [3].
In summary, the Ministry of Public Security acquiring state-owned shares in FPT Telecom reflects Vietnam’s strategic approach to maintaining state control over critical infrastructure sectors like telecommunications, while simultaneously preparing for enhanced market integration and foreign investor engagement [1][2][3].
- The acquisition of FPT Telecom shares by the Ministry of Public Security is part of a broader government policy aimed at enhancing state presence in strategic sectors, such as technology, telecommunications, and finance.
- State-related entities, including the Ministry of Public Security, are seen as crucial drivers for market and economic growth, particularly in sectors like cybersecurity and information security.
- The Ministry of Public Security's takeover of FPT Telecom could boost investor confidence in Vietnam's market, demonstrating the government's commitment to key technological sectors during a period of expected market upgrade and foreign investment influx.
- The move to bring FPT Telecom under the MPS umbrella could increase government oversight and influence in the internet and telecommunications industry, potentially leading to enhanced cybersecurity, control, and regulated development in this critical sector.
