Sunday, December 11 2016

VietNamNews

Viettel to earn 80% on its overseas operations

Update: May, 16/2015 - 10:27
The military-run telecom Viettel expects to see a return of 80 per cent of its US$600 million in foreign operations this year. — Photo Bizlive
HA NOI  (VNS) — The military-run telecom Viettel expects to see a return of 80 per cent of its US$600 million in foreign operations this year.

The group said that, as of the end of last year, its total turnover from overseas markets reached $1.2 billion, with a growth rate of 25 per cent. Its pre-tax profits from its overseas operations posted a 32 per cent increase to $156 million.

Further, the group earned $278 million from its foreign operations so far this year.

Plans call for Viettel to launch its services in the Congo, with a population of 75 million, Columbia, with 40 million people, and Myanmar with 55 million.

Nguyen Manh Hung, Viettel's general director, said the group has invested in nine countries, with a population of 175 million, which is nearly double that of Viet Nam.

It has worked to become a global company, as well as one of the three largest companies in the foreign markets in which they are operating.

It has also targeted to operate in another 25 countries, selling to a total market of 600-800 million people by 2020. Viettel has been enthusiastic about becoming one of the top 10 telecommunication companies in the world.

Viettel Global, the group's subsidiary, has targeted to access 350 million customers worldwide in the next three years, while issuing 1 billion shares to Viettel – its strategic shareholder.

Further, Viettel Global expects to be operating in 16 foreign markets by 2017, with a total investment of $47.46 trillion ($2.2 billion).

Last year, Viettel established a joint venture worth $1.8 billion in Myanmar.

In March, Metfone, Viettel's branch in Cambodia, announced plans to acquire Sotelco – a Beeline's branch. This would become the first Vietnamese merger and acquisition in a foreign market.

Tao Duc Thang, Viettel Global's director, said investing in Beeline Cambodia has been consistent with its worldwide vision to become one of the leading telecom companies by 2020.

Thang also expects to have a presence in another 20 countries in the next five years.

According to GSM Association's report, Viettel has been one of 15 leading companies in the world, based upon network connections. Last year, the group earned VND3 trillion in pre-tax profits, representing a 43 per cent year-on-year increase. — VNS

Nation plans to have three or four big telecom groups

HA NOI — As part of Viet Nam's telecommunication development strategy, the country plans to have 3 to 4 big telecom groups that could compete on the world market. MobiFone has also targeted foreign countries, along with Viettel, Viet Nam Post and Telecommunication Group (VNPT).

Le Nam Tra, MobiFone's general director, confirmed it will become one of the pillars in the world's telecom market, as well as a leading brand. — VNS

Send Us Your Comments:

See also: