Ericsson Group has announced to set up a 100%-foreign-invested company in Vietnam later this month.

Ericsson Vietnam’s Finance Director Knut Hellerud said that the company would be established at the cost of nearly US$ 2 million.

After 15 years operating in Vietnam, Ericsson decided to set up its first company to undertake tasks which are beyond the capacity of a representative office. In addition, Ericsson is expecting to penetrate deeper into the local telecommunications market through providing better services to Vietnamese telecommunication providers.

Ericsson also expects to supply network management and exploitation services to domestic providers.

Source: TBKTSG Online

Translated by Hoang Anh