Viettel, posted a profit of around VNĐ44 trillion (nearly US$2 billion) last year, increasing 12 per cent from the previous year. — Photo thanhnien.vn

Military-run telecom group, Viettel, posted a profit of around VNĐ44 trillion (nearly US$2 billion) last year, increasing 12 per cent from the previous year.

At its conference to review activities held last weekend, Viettel announced that its total revenue reached VNĐ250.8 trillion in 2017, up 9.4 per cent from 2016.

Despite the group spending a big investment for its 4G network and the largest scale telecoms network in Myanmar, it still yielded a 12 per cent increase in profit in 2017.

Its overseas investment rose by 24.4 per cent, six times higher than the world average.

The local telecom business contributed 65.6 per cent of the group’s total revenue, while its overseas investment contributed 12.5 per cent.

Viettel also earned VNĐ12.5 trillion from its production of equipment, including 300 BTS 4G stations. In 2017, it had 25 licences of invention, three times higher than that of 2016 and took the third position in the country.

The giant telecom group contributed VNĐ41.1 trillion to the State budget, up 2.3 per cent from the previous year.

Viettel also received important awards such as the most profitable firm in Việt Nam, the biggest taxpayer in Việt Nam and the company with the highest brand value of $2.6 billion.

The group will target a revenue of VNĐ277 trillion in 2018, increasing 10.5 per cent from last year, and will expect profit to rise by 3.2 per cent to VNĐ45.5 trillion.

Its number of 4G subscribers this year is expected to hit 17 million.

It also plans to improve network quality to bring its 4G data speed to the top 10 of the world.

Viettel will inaugurate its mobile phone services in Myanmar – its ^{10th foreign market, this year. — VNS}