Dot VN, Inc. Signs Joint Venture Agreement with Vietnam Internet Network Information Center (VNNIC) To Develop Internet Data Centers
Thursday December 14, 4:53 pm ET
SAN DIEGO--(BUSINESS WIRE)--Dot VN, Inc., a Delaware corporation ("Dot VN" or the "Company") (www.DotVN.com), (Pink Sheets:DTVI - News), an Internet and Telecommunications Company and authorized global domain name registrar (www.VN) for the Country of Vietnam, announced today that it has signed Procedure Agreement with Vietnam Internet Network Information Center ("VNNIC") (www.VNNIC.net.VN) to design, develop and manage Internet Data Centers ("IDCs") throughout Vietnam.
Vietnam, with an estimated population of over 85 Million people, is the second fastest growing economy in the world and was recently accepted into the World Trade Organization ("WTO"). It is anticipated that Vietnam will be a full member of the WTO by January 11, 2007. Further, Vietnam has received full approval by the U.S. Congress for permanent normalized trading relations harkening a new era in US-Vietnam relations.
Since 2000, internet use in Vietnam has exploded from about 400,000 users to an estimated 16,000,000 users in 2006. As the country continues its ascent, the Vietnamese government, universities, financial institutions, hospitals, local and multi-national businesses will require internet access, the ability to host websites, manage email, assure secure transactions and obtain the capability to store and recover critical data and information. It is Dot VN's intent to provide such services through the construction and operation of IDCs throughout Vietnam.
Currently, the Vietnamese government is pursuing a plan to develop and grow an e-government initiative which will improve the public's ability to access government services and resources. It is Dot VN's goal to facilitate this initiative and create the infrastructure necessary to drive e-government growth in Vietnam through projects like the IDC.
Dot VN and VNNIC have partnered to design, construct and manage the first official IDC located in Vietnam's capital city of Hanoi, with a population over 3.5 Million people and 50,000 businesses. The construction of this IDC is anticipated to begin in June, 2007 and is expected to be in operation by November of 2007. The Company anticipates that its first IDC will fill approximately 10,000 square feet of space. Dot VN also contemplates the construction of three additional IDC's throughout Vietnam, which are currently in the planning stages. The Company hopes to complete development of these additional IDCs by 2010.
Nguyen Le Thuy, Director of VNNIC said, "We are very pleased to form this exclusive partnership with Dot VN to build and operate the first IDC in Vietnam. The country and its citizens want to have their domain names hosted and data backed up, and our IDC's will be the solution they are seeking. Vietnam's internet demands are growing very rapidly, therefore, we are planning with Dot VN to construct another IDC with larger capacity in 2008."
Thomas Johnson, Chairman and CEO of Dot VN added, "With Vietnam's internet user population growing at about 35% per year, the country is ready for an advanced, reliable and cost effective IDC. Our joint venture with VNNIC is unique, since the partners are investing and sharing the profit from this IDC project. In order to capture the high demand and to provide a full turn key solutions to assist Vietnamese businesses and its citizens, Dot VN is working closely with VNNIC to plan and build other strategically located IDC's."
About the Companies:
Dot VN, Inc. (www.DotVN.com) is the online service provider of .VN (Vietnam) domain name registrations globally. The Company has established agreements with the Vietnamese government and international ISP's (Internet service providers) such as VNPT, Netsoft, VDC, FPT, along with Verisign, MarkMonitor.com, NetNames.com, Ascio.com, MelbourneIT.com, RGNames.com, EbrandSecure.com, IPMirror.com and over 70 top domain resellers to commercialize Vietnam's Internet and Telecommunications services. Dot VN, Inc. has strived to deliver high value online communication and commerce solutions along with outstanding customer service both domestically and internationally with a focus on Vietnam. The Vietnam Internet Network Information Center (VNNIC) awarded Dot VN, Inc. an "exclusive long term contract" to be the first registrar to promote, market and register its country code Top Level Domain (ccTLD) of .VN (Vietnam) via the Internet. Dot VN, Inc. is developing an Internet based distribution network through which the Company delivers business applications and services and digital software content to a network of more than 70 Service Providers in over 30 countries. The Company is developing the latest Internet domain registration software technologies for marketing, sales and managing the .VN domain name registration, website design and hosting, email systems, e-commerce and e-marketing, Vietnamese Search Engine for .VN and VOIP telecommunications for Vietnam and other customers worldwide.
Vietnam Internet Network Information Center, (www.VNNIC.net.VN), is an affiliation to Ministry of Posts and Telematics. Its responsibilities are to allocate, develop and manage registry Internet resources in Vietnam; to establish, utilize and maintain the domain name server system for the national domain name .VN; to exploit the latest technologies relating to Internet resources.
Cautionary Warning Regarding Forward-Looking Statements: This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) our ability to attract and retain key executive officers and the professional advisors necessary to guide us through our corporate restructuring; (4) unforeseen costs and expenses; (5) potential litigation with our shareholders, creditors and/or former or current investors; (6) the Company's ability to comply with federal, state and local government regulations; (7) the Company's ability to maintain current agreements with the Country of Vietnam and secure additional agreements; and (8) other factors over which we have little or no control.
Contact:
Dot VN, Inc.
Gary Thompson, 858-571-2007 Ext. 14
inquiries@dotvn.com
www.dotvn.com
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Source: Dot VN, Inc.
