Viettel Global Investment JSC, under Vietnam’s telecommunications giant Viettel, will invest $560 million in the Dominican Republic, establishing a new telecommunications entity named Viettel Dominicana, to operate in the Caribbean nation.

Viettel Global Investment approved the overseas investment in April, according to a Tuesday filling of the firm with the Hanoi Stock Exchange (HNX).

During the first two years, the project will focus on network buildout and core services including mobile telecommunications, fixed broadband internet, and e-wallet services. The next phase will extend into data centers, cloud computing, cybersecurity, IT solutions, and digital logistics.

In terms of infrastructure, the project covers advanced mobile network technologies including 4G/LTE, 5G NR, and future generations such as 6G and 7G, alongside fiber optic networks, core networks, digital payment systems, and cloud computing platforms.

Prior to Dominica, Viettel, the parent firm of Viettel Global, has been investing in 11 overseas markets, namely Cambodia, Laos, Myanmar, Timor Leste, Peru, Haiti, Mozambique, Tanzania, Cameroon, Burundi.

Viettel Global contributes about $3 billion of revenue to its parent firm annually.

Vietnam’s top telco Viettel to invest $152M in expanding 5G coverage to all Ho Chi Minh City