True has said it has an aim to become the largest service provider in the country, according to local media reports.
The plans are set in place for the telco to set their footprint on the lucrative emerging market after the ASEAN Economic community is officially established.
National reports in Thailand said the company is seeking investment for licences in infrastructure and digital TV services.
True has recently made investments in international markets, including $31.4 million it made in the Myanmar cable TV segment.
If True does follow through and enter the Vietnamese market, it will have to deal with a fierce competitive environment, where international operators, including SK Telecom and Vimpelcom have already had to exit the market despite initial investments.
True is the largest operator in Thailand and operates mobile internet and cable TV services.
