Viettel to increase its chapter capital

Tuesday, Dec 29, 2015 18:19

Customers at a Viettel customer services centre. Viettel corporation's charter capital will triple to VND300 trillion (US$13.3 billion) for the 2015-20 period. — Photo

HA NOI (Biz Hub) — The Prime Minister has approved a plan to raise military-run Telecommunications Group's (Viettel's) charter capital.

Accordingly, the company's charter capital will triple to VND300 trillion (US$13.3 billion) for the 2015-20 period.

Viettel is the country's leading telecommunications group with revenues of VND193.1 trillion ($8.6 billion) last year, a three-time increase compared to 2009.

Last year, the company posted a pre-tax profit of VND42 trillion ($2 billion), a four-time increase compared to 2009.

Viettel has 57.4 million subscribers, of which 55.5 million are mobile subscribers and 1.9 million are landline users. The figures for subscribers in the foreign market are 17.5 million for mobiles and 815,000 with landlines.

With respect to its infrastructure, Viettel has more than 63,600 Base Transceiver Stations (BTSs) throughout the country, and 19,100 stations abroad.

By 2020 the military-operated telecom group hopes to report a record revenue of VND500 trillion ($22.2 billion).

Research and development, along with equipment manufacturing, are considered the three key pillars of Viettel's development strategy, apart from domestic and overseas telecommunications.

Notably, Viettel has mastered technology for its equipment and military weapon production, laying a solid foundation for the development of a defence industrial complex and firmly protecting the nation's sovereignty in all fields.

The coverage and quality of its 3G network meet all criteria set by the supervisory agencies, providing telecommunication, television and information technology services to clients, having successfully transformed itself from an operator to a content and application provider. — VNS

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