Vietnam launches industry ‘spearhead project
29 December 2020
by Jon Grevatt
Vietnam has launched a ‘spearheads of industry’ initiative to support the local development of military technologies through investment in one of its biggest defence corporations, the Viettel Military Industry and Telecoms Group (Viettel).
Vietnam’s Ministry of Planning and Investment said that through the new project the government will set up a new funding mechanism for the national defence industry with the aim to support national economic growth and create jobs in the wake of the Covid-19 pandemic.
Vietnam has outlined a plan to support the development of one of its biggest defence firms, the Viettel Military Industry and Telecoms Group. (Getty Images)
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