There are currently four licensed MVNOs in Vietnam but more are expected to join soon

24.17%

3%

70.75%

4.83%

27.88%

1.45%

29.33%

62.26%

8.38%

70.6%

At the end of year 2023, the Ministry of Information and Communications (MIC) had licensed five MVNOs in Vietnam:

Company: Indochina Telecom

Existing Assets: Energy, Real Estate, Retail

Launched: 04/2019

Host MNO: Vinaphone

Company: Mobicast/Masan Group

Existing Assets: FMCG/Supermarket chain

Launched: 04/2019

Host MNO: Vinaphone

Company: ASIM Telecom

Existing Assets: "Super App", OTT, Travel

Launched: 05/2021

Host MNO: MobiFone

Company: VNPAY

Existing Assets: Fintech, Food & Beverage, Travel, Bank App

Launched: 05/2023

Host MNO: MobiFone

Company: FRT

Existing Assets: Retail, ICT, OTT, Education, E-commerce

Soft Launched: 11/2023

Host MNO: MobiFone

According to the Department of Telecommunications under the Ministry of Information and Communications (MIC), the number of active subscribers connected to Vietnam's three (now five) mobile virtual network operators (MVNO), in June 2023 was 2.65 million, accounting for 2.1% of the total number of subscribers in the country.

The numbers represent an increase of 410,000 subscribers (+18.30%) in just two months, since the end of April 2023 release from MIC where the subscribers stood at 2.24 million, accounting for 1.74% of the total market.

On average, about 1.5 million new SIM subscriptions are sold in the market on a monthly basis. Of these, the three traditional operators; Viettel, VNPT, and MobiFone account for about 85% (1.275.000) of the new subscribers with the remaining 15% (225.000) going to Vietnam mobile and the MVNOs.

(Indochina Telecom)

Energy, Real Estate and Retail

Launched: 04/2019

Host MNO: Vinaphone

(Mobicast/Masan Group)

FMCG/Supermarket chain

Launched: 04/2019

Host MNO: Vinaphone

(ASIM Telecom)

"Super App", OTT TV, Travel

Launched: 05/2021

Host MNO: MobiFone

(VNPAY)

Fintech, F&B, Travel, Bank App

Launched: 05/2023

Host MNO: MobiFone

The majority of the 2.65 million subscribers back in June were with the MVNO Itel, which was the first MVNO to launch in Vietnam in 2019, while the MVNO Wintel (formerly Reddi) announced 122,500 subscriptions in 1Q23.

The rest was with the MVNO myLocal (ASIM Telecom), as the MVNO VNSKY was launched on May 23, 2023, and thus not part of the June reporting.