Viettel posts record growth rate

August 12, 2022 - 12:31

Viettel Group achieved a double digit growth in the first half of the year with revenue and profit increased by 6.6 per cent and 21.7 per cent over the same period last year respectively.


Viettel achieved record growth in the past four years. Photo courtesy of the firm

HÀ NỘI - Viettel Group achieved double-digit growth in the first half of the year with revenue and profit increasing by 6.6 per cent and 21.7 per cent over the same period last year respectively.

This represents the highest growth rate Viettel has achieved in the past four years.

Notably, Viettel has achieved these positive results in the context that the socio-economic situation continued to be affected by the COVID-19 pandemic. Meanwhile, the global supply chain was broken due to an international conflict as well as the instability in some foreign markets in which Viettel is operating.

In Việt Nam, Viettel continues to maintain its No 1 position in telecommunications with 54 per cent market share of mobile subscribers and over 40 per cent market share of fibre cable internet subscribers.

In the first six months of the year, Viettel had many policies to attract customers to use 4G infrastructure, bringing its 4G subscribers to nearly 40 million, accounting for nearly 75 per cent of its total. It has 168 5G stations in 24 provinces and cities nationwide. Viettel aims to test 5G in all 63 provinces and cities in the country in 2022.

Viettel's foreign telecommunications sector saw double growth compared to the world’s average level. Its service revenue grew in all of its nine foreign markets over the same period last year. In which, six out of nine markets had double-digit growth including Movitel (Mozambique), Mytel (Myanmar), Natcom (Haiti, Lumitel (Burundi), Telemor (Timor Leste) and Halotel (Tanzania).

Viettel has promoted the business of new services such as TV 360, Viettel Money, eSport, and solutions for smart home and security cameras.

Viettel also started the process of promoting technology products to international markets such as B2B services in Myanmar; cyberinformation security services in Germany; co-operated with Nvidia Technology Corporation (the US) to expand the business system with artificial intelligence (AI) companies globally; trading in telecommunications network equipment and information machines in some Southeast Asian and South Asian markets.

Speaking at a recent meeting, Colonel Tào Đức Thắng - Chairman and General Director of Viettel said: "2022 is the third year Viettel has announced its transformation into a technology company providing digital services. Viettel will continue its pioneering journey in taking advantage of these technologies to bring happiness to the people and prosperity to the country; becoming the number 1 enterprise in cybersecurity, digital transformation products to build a digital government, digital economy, and digital society. Viettel will also resonate with resources both inside and outside the country to have breakthrough digital products to lead the market”. VNS