The Vietnamese government awarded an investment certificate to a
U.S.-controlled company for the purpose of establishing and operating a string
of commercial data centers throughout Vietnam. The project, with a business
plan calls for over $50 million in investment capital, is expected to garner
momentum for Vietnam's increased efforts toward rapid globalization.
HANOI, VIETNAM, December 4 /CNW/ - On November 1, The Hanoi People's
Committee of the Socialist Republic of Vietnam granted an investment
certificate that allows Data Next LLC, a subsidiary of U.S.-based
International Telecom Holdings ("ITH"), to establish a network of much-needed
commercial data centers throughout Vietnam. Plans for the data center call for
an infusion of investment capital in excess of $50 million.
The data center network's flagship facility will be established in
Vietnam's financial and industrial center, Ho Chi Minh City, by early 2008.
ITH will begin rolling out additional facilities later in 2008 to other major
metropolitan areas. The additional facilities will be launched in areas such
as Hanoi, Da Nang, and Hai Phong, which currently lack world class
business-critical services such as collocation, hosting, and data storage in a
highly secure, redundant environment.
The facilities are being designed to meet the highest international
standards in terms of technology, redundancy and value-added services. Zohar
Loshitzer, President and CEO of ITH, explained, "One cannot maximize the
benefits of globalization without a robust system for electronically moving
and storing data... Our state-of-the-art telecommunications and data
capabilities will benefit the Vietnamese economy by attracting foreign
enterprise throughout the country and spurring organic growth amongst the
people of Vietnam."
ITH's experience in Vietnam's telecommunications sector derives from the
success of its sister company Universal Telecom Services ("UTS"), also headed
by Loshitzer. UTS' BCC with its local partner VISHIPEL has facilitated UTS'
becoming the only U.S.-based entity to provide direct gateway-to-gateway
international long distance telephone traffic to and from Vietnam. UTS has
grown to be a major telecom player in the Vietnamese market place.
About International Telecom Holdings:
International Telecom Holdings, headquartered in Los Angeles, California,
is part of the Orchard Capital portfolio of companies and is the parent
company of Data Next LLC. ITH focuses on developing and acquiring ventures
within the telecommunications sector with emphasis on the developing Southeast
For further information:
For further information: Darren Seiden, 323-860-9540 Fax:714-242-0999