Hanoi Times – The Global Data Service Joint Stock Company, a joint venture between VNPT and Japan’s NTT Communications Group (NTT Com), will start operation in January 2008.

NTT Com will hold a 40% stake of the USD 8 million JV while the Vietnam Posts and Telecommunications Group (VNPT) will own the remaining 60 percent share.

This is the fírst JV in data services but the second in the information technology and communication sector since Vietnam joined the World Trade Organisation o­ne year ago with the first o­ne established between VNPT and Germany’s DHL Worldwide Express.

The new JV plans to set up a data centre in Hanoi in mid 2008 and another in HCM City in early 2009 to provide such services.

The establishment of the two joint ventures just in the first year of Vietnam’s WTO membership has proved foreign investors’ increasing interest in the country’s post and telecommunication and IT sectors, said Phan Tam, Vice Head of the Department of International Cooperation under the Ministry of Information and Communication.

A dozen of major telecom groups in the world such as Vodafone, Comvik, Telenor, NTT DoCoMo and Tata have showed their interests in Vietnam, especially the equitisation of the Vietnam Mobile Telecom Services Company (MobiFone), he added.

In recent years, many leaders from the world’s large IT and telecom groups have visited and worked with Vietnamese relevant agencies in the hope of doing long-term business in the country.

David Miller, Vice President of Lenovo, the world’s third largest computer group, affirmed that Lenovo will increase its presence in Viet Nam through expanding distribution systems and product designing in the near future.

Meanwhile, Mark Bregman, Executive Vice President of the world leading security firm Symantec, called Vietnam o­ne of 10 Symantec main markets in the near future.

To cope with fierce competition from an increasing number of foreign firms in line with the country’s WTO’s commitments, domestic businesses have intensified administrative reforms and structural rearrangement. They have also improved the quality of operation, services and develop new investment policy.

The ministry is compiling a decree o­n investment in the post and telecommunications sector while reviewing legal documents to make them conform with the country’s commitments.

A draft decree o­n the management of the Internet which is expected to encourage every economic sector to supply Internet services, is o­n the pipeline to be submitted to the Prime Minister for approval in early 2008.