Smart sorting technology complex of Viettel Post. Viettel Post will invest $5.3 billion to develop a logistics subsidiary in Laos. — VNA/VNS Photo Minh Quyết

Viettel Post Joint Stock Corporation has announced a resolution of the Board of Directors on investing around VNĐ136 billion (US$5.3 million) to establish a subsidiary in Laos in an effort towards realising its cross-border logistics expansion plan.

The subsidiary, Viettel Post Laos Limited Company, will invest in developing the infrastructure and providing delivery, logistics and transportation services.

Opening a subsidiary in Laos is a part of the cross-border logistics plan of Viettel Post. Besides Laos, Viettel Post plans to open representative offices in Thailand and China.

Viettel Post targeted to increase the revenue by 10 times compared to 2023 in the next five years, or an annual growth rate of 60-65 per cent.

In March 2024, Viettel Post signed cooperation agreements with PingXiang and Nanning cities in Guangxi, China on opening representative offices and building logistics centres in these two cities, aiming to develop a logistics network for agricultural products of Việt Nam, Laos, Myanmar and Cambodia to China.

The company reported a revenue of VNĐ9.6 trillion in 2024 with an after-tax profit of VNĐ152 billion in the first half of this year, a drop of 13 per cent against the same period last year.

Viettel Post targeted to reach a revenue of VNĐ13.9 trillion and after-tax profit of VNĐ370 billion in 2024, 33 per cent and 3 per cent respectively lower than the results in 2023.

With a charter capital of nearly VNĐ1.218 trillion, Viettel Post is a member of Viettel. — VNS