Viettel Gets Government OK to Invest $83 Million in Laos

HANOI -(Dow Jones)- Vietnamese state-owned mobile operator Viettel has received government approval to invest $83.77 million to build a telecom network in Laos, state media reported Thursday.

"The prime minister has agreed to allow Viettel to start investing $83.77 million in a telecom project in Lao," the Lao Dong newspaper reported.

So far Viettel, which is run by the the Ministry of Defense, is the only Vietnamese telecom company to have received permission to invest in Laos and Cambodia, the newspaper said.

-By Nguyen Pham Muoi, Dow Jones Newswires; 844-8250732; phammuoi.nguyen@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 14th February 2008