Vietnam's Ministry of Public Security plans to acquire a majority stake in FPT Telecom, one of the country's major internet service providers, as part of its efforts to boost national cybersecurity, according to a document seen by Reuters.
The ministry, which oversees the police, is increasingly involved in Vietnam's internet and telecommunications sector, BTA said.
It took control of the country's third-largest telecom operator, MobiFone, last year and has also been behind a tightening of data protection rules that has raised concerns among foreign technology firms.
As part of the plan, the State Investment Fund of Vietnam (SCIC), a state-controlled asset holding company, will transfer its stake in FPT Telecom to the ministry, the document said.
Reuters was unable to determine whether The transfer will result in the ministry taking effective control of FPT Telecom.
The Ministry of Public Security did not respond to a request for comment. FPT Corp said it had no information to share on the matter at this time.