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Viettel s new growth model for Vietnam: PM
Date: 12/18/2016 11:36:27 PM
Prime Minister Nguyen Xuan Phuc praised the military-run Viettel Group as having created a new growth model for Vietnam at a ceremony on December 17 to mark the telecom group’s 10 years investment abroad.
The PM noted that Viettel has grown into the biggest telecom and IT group in Vietnam and also the first Vietnamese company to enjoy successful investment abroad on large scale thanks to focusing on products and services with high added values instead of exploiting natural resources or low-cost workforce.
He said the group’s success has reinforced international community and partners’ trust, while inspiring other Vietnamese firms in investing abroad, adding that Viettel’s projects have also helped strengthen the friendship and cooperation between Vietnam and host countries.
He urged the firm to promote the startup spirit in two promising sectors of telecommunication and IT.
PM Phuc expressed his hope that in the next 10 years, Viettel will double and even triple its overseas market, becoming a global enterprise listed among the top 20 telecommunication firm in the world.
During the ceremony, Viettel also announced that it has received the 10th investment licence abroad for a joint venture in Myanmar. With the joint venture, the group has expanded its coverage to 11 countries with a total population of 320 million. Tanzania and Burundi are among its most profitable markets.
Viettel is running a total 360,000km of optical cable in nine countries, equivalent to nine rounds around the earth.
In 2016, nine companies run by Viettel abroad have a total value of 4.5-5 billion USD. This year, the group’s overseas revenues are likely to reach 1.4 billion USD, raising its total overseas earnings so far to 6.5 billion USD with an average growth of 25 percent annually.
Viettel is currently serving 100 million customers, including 35 million abroad, 12 times higher than that in its first year of investment abroad. It is now ranked among the world’s top 30 telecoms companies in terms of number of customers.
Major General Nguyen Manh Hung, General Director of Viettel, revealed that the firm will continue investing in infrastructure system to provide 4G services widely at a reasonable cost, while continue expanding its investment in production.
Viettel aims to become one of the top 20 telecoms enterprises in the world in the future, he stated.
(Source:vietnamplus news)
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