Viettel aims to make world top 10 list by 2020

Friday, Mar 13, 2015 08:09

Viettel currently has the second largest revenue among nearly 500,000 businesses in Viet Nam. — Photo citinews

HA NOI (Biz Hub) — The military-run telecommunications group Viettel aims to become one of the world's top 10 telecom companies by 2020, with presence in 30 to 35 countries.

The firm's executives informed Prime Minister Nguyen Tan Dung about this aim at a working session on Wednesday.

Viettel currently has the second largest revenue among nearly 500,000 businesses in Viet Nam, earning VND197 trillion (US$9.38 billion) in 2014, a 20 per cent annual increase. The earnings accounted for more than 10 per cent of the State-owned enterprises' total figure.

Last year, it posted pre-tax profit of VND42 trillion ($2 billion), an annual rise of 15 per cent and representing 23 per cent of the profit made by State-owned firms.

Its tax payments exceeded VND15 trillion ($714.28 million), climbing 10 per cent from the previous year, making Viettel the largest tax contributor in Viet Nam.

The group is employing roughly 90,000 people, including 75,000 in Viet Nam and 15,000 abroad.

It has thus far invested in nine countries, which are Laos, Cambodia, Timor-Leste and Haiti, as well as Peru, Mozambique, Cameroon and Tanzania, besides Burundi. Viettel's overseas revenue grew 25 per cent to touch $1.2 billion in 2014, with pre-tax profit of $156 million, up 32 per cent.

The firm owns three telecom equipment and electronic device research institutes, two software companies and two factories.

At the working session, Viettel executives highlighted their resolve to achieve 20 per cent increase in revenue and 15 per cent rise in profit this year.

In addition to telecommunications and overseas investments, the firm is developing hi-tech device research and production activities, the firm's leaders said.

Speaking highly of the firm's accomplishments, the Prime Minister asked Viettel to maintain its impressive progress and step up scientific and technological research and applications to elevate the company as a leading group in the region.

He also pledged optimal conditions for the company to develop and realise its assigned targets. — VNS

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