Illustrative image (Source: VNA)
 
Hanoi (VNA) – The Ministry of Information and Communications (MIC)’s Authority of Telecommunications held an international seminar in Hanoi on October 30 on competition and telecommunications rates management.

Speaking at the event, Deputy Minister of Information and Communications Nguyen Thanh Hung said telecom providers are competing with each other by providing below-market rates and regular promotions, adding that if this prolongs, they will easily go bankrupt.

In order to grow sustainably, he suggested they take new approaches to corporate governance and sales to better serve customers.

The MIC will stand side by side with telecom companies to develop services and adopt technological advances for the country’s economic development, he said.

Ashish Narayan from the International Telecommunication Union’s Regional Office for Asia and the Pacific said competition now covers not only prices but also transmission capacity and services innovation.

Participants shared the view that anti-monopoly must be put in top priority to create a transparent market, thus ensuring the benefit of customers.

Vietnam now records 70 telecommunications firms, including 37 ones receiving infrastructure licenses and 33 others offering telecom services.

As of the late June, there were 124 mobile phone subscribers, 50 mobile broadband subscribers and 11 fixed broadband subscribers per 100 people.

Last year, the sector’s revenue grew by 7.5 percent from the previous year.  

The event will last till October 31, focusing discussions on business activities and technological advances in the field to catch up with Industrial Revolution 4.0.-VNA