Ministry of Public Security takes over state capital at FPT Telecom

The Ministry of Public Security officially took over the right to represent the State capital owner at FPT Telecommunication Joint Stock Company (FPT Telecom) from the State Capital Investment Corporation.

On the morning of July 16, the Ministry of Public Security held a ceremony to hand over the right to represent State capital ownership at FPT Telecom from the State Capital Investment Corporation (SCIC) to the Ministry of Public Security.

Ceremony of handing over the right to represent State capital ownership at FPT Telecom from the State Capital Investment Corporation (SCIC) to the Ministry of Public Security. Photo: Trong Phu .

Mr. Nguyen Quoc Huy, General Director of SCIC, said that this transfer is carried out in accordance with the Party and State's policy on arranging and managing State capital in enterprises. This capital transfer is a strategic decision on security, data, and national digital transformation in the new era.

Mr. Nguyen Quoc Huy believes that FPT Telecom is one of the pioneering enterprises in telecommunications and technology in Vietnam. In the coming time, he believes that the unit will have more favorable and important conditions to develop even stronger.

Major General Pham Truong Giang, Director of the Financial Planning Department of the Ministry of Public Security, said that this transfer complies with the Party and State's policy on improving business efficiency, meeting the requirements and tasks of the Ministry of Public Security in the coming time.

Major General Pham Truong Giang, Director of the Department of Financial Planning, Ministry of Public Security. Photo: Trong Phu.

FPT Telecom was established more than 28 years ago, in January 1997, originating from the Online Service Center founded by 4 members with the first internet product of Vietnam called "Vietnamese Intelligence - TTVN". The product was introduced as laying the foundation for the development of the internet in Vietnam.

Currently, FPT Telecom is a telecommunications and internet service provider. Before transferring state ownership to the Ministry of Public Security, the unit had two major shareholders: SCIC holding 50.2% of shares and FPT Corporation owning 45.7% of capital.

In 2024, FPT Telecom recorded net revenue of VND 17,610 billion and pre-tax profit of VND 3,588 billion , up 11% and 18% respectively over the same period. This is the highest result the company has achieved since its establishment.

In 2025, FPT Telecom aims to bring in 19,900 billion VND in revenue, up 13% over the same period last year. Of which, telecommunications revenue is expected to increase by 13%, reaching 19,100 billion VND , the rest is revenue from digital content. The company's pre-tax profit plan is 4,200 billion VND , up 17%.

Source: https://znews.vn/bo-cong-an-tiep-quan-phan-von-nha-nuoc-tai-fpt-telecom-post1568962.html