The MobiFone Telecommunications Corporation (MobiFone) signed an investment memorandum of understanding (MoU) with the Ha Noi People's Committee last week.— Photo vietnamnet.vn

HA NOI (Biz Hub) — The MobiFone Telecommunications Corporation (MobiFone) signed an investment memorandum of understanding (MoU) with the Ha Noi People's Committee last week.

Accordingly, the corporation will invest about VND500 billion (US$22.4 million) into a project to bury telecom cables underground in the city.

Other partners who joined the MoU include Viettel Group, Viet Nam Post and Telecommunications Group (VNPT) and Ha Noi Electricity Corporation (EVN Ha Noi), with total investment estimated at VND3 trillion.

Speaking at the event, Le Nam Tra, chairman of MobiFone's member council, said the corporation was honoured to contribute to the project.

"This is a big and meaningful project for the city's socioeconomic development, which contributes to build a more modern and civilised capital city," Tra said. — VNS