MobiFone was transferred to the Ministry of Public Security.

The Ministry of Public Security took over the right to represent the State capital ownership at MobiFone from the Capital Management Committee, from February 27.

On February 27, the Government approved the policy of transferring the right to represent the State capital ownership at MobiFone Telecommunications Corporation to the Ministry of Public Security.

The Government leader assigned the State Capital Management Committee at Enterprises and the Ministry of Public Security to transfer the right to represent the State capital ownership at MobiFone in accordance with regulations, ensuring that there is no negativity, group interests, or violations of the law.

Previously, MobiFone was under the management of the State Capital Management Committee at Enterprises. However, according to the Government's plan to reorganize and streamline the apparatus, this Committee ceased its operations and transferred the rights and responsibilities of representing the State owner to 18 corporations and general companies under the management of the Ministry of Finance.

As for MobiFone, in the report to the Government Steering Committee on the plan to reorganize and streamline the apparatus in early January, the Ministry of Home Affairs proposed transferring this corporation to the Ministry of Public Security for management. The Party organization of this corporation was also transferred to be directly under the Central Public Security Party Committee.

MobiFone's predecessor was Vietnam Mobile Information Company (VMS), established in 1993. This was also the first mobile telecommunications network in Vietnam. In December 2014, this enterprise was transformed into MobiFone Telecommunications Corporation.

During its 32 years of operation, MobiFone has gone through many ups and downs from being the number 1 brand in the mobile telecommunications industry to gradually losing steam compared to its two main competitors - VNPT and Viettel. By 2023, according to the White Book on Information and Communications Technology, this corporation holds about 17.9% of the terrestrial mobile telecommunications market share, ranking 3rd in the market, after Viettel (56.3%), VNPT (nearly 21%).

Last year, MobiFone's production and business activities had many positive changes. The Corporation estimated a profit of more than 2,000 billion VND, and its budget contribution exceeded the plan by 56.7%.

In the process of transforming from a network operator into a technology enterprise, many of MobiFone's products and services also recorded high growth rates last year, such as MobiFone Meet (up 1,050%), Cloud (312%), mobiAgri (49%), MobiFone invoice (58%).

MobiFone currently has 21 member units with about 4,000 employees. By the end of 2023, the total assets of the enterprise will reach VND 31,630 billion and equity will be about VND 23,144 billion.

Source