Viettel mulls ambitious expansion

Saturday, May 18, 2013 11:26

Customers register for the services of Star Telcom (Unitel), a joint venture between Viettel and Lao Asia Telecom. Viettel plans to expand to other developing countries in 2015. — VNA/VNS Photo Hoang Chuong

HA NOI (Biz Hub)— Leading telecom service provider Viettel said it planned to expand to developing countries in 2015.

"We are considering to invest in Myanmar, Kenya, Venezuela, Tanzania, Burkina Faso, Argentina, Cuba and Swaziland," said Viettel's deputy director Nguyen Van Tinh.

Tinh said markets in developed countries were already saturated while investing in developing countries would lead to fast expansion and avoid stiff competition.

Viettel has over 60 million subscribers in six countries and a revenue of VND15 trillion million (US$714.3 million) in 2012, accounted for 10.6 per cent of the company's total turnover last year.

Tinh said Viettel had surpassed 80 competitors to come to the final round of bidding to provide a mobile phone service in Myanmar.

"The winner will be announced by the end of next month," he said.

Viettel, which has 40 per cent of market share in Viet Nam, aims to increase sales by between 15 per cent and 20 per cent in 2013 to VND162 trillion ($7.71 billion) and targets profit of VND34.6 trillion ($1.65 billion) for the year. —VNS

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