Viettel chairman appointed minister of information
Prime Minister Nguyen Xuan Phuc on July 25 appointed Nguyen Manh Hung, chairman of military-run telecoms group Viettel as the new minister of information and communications.
Two days earlier, the Politburo - the highest body of the Communist Party of Vietnam elected Hung, a major general, as the Secretary of the Party Committee of the ministry for the 2016 - 2021 term, replacing Truong Minh Tuan, who has been involved in a business scandal. President Tran Dai Quang on Monday suspended Truong Minh Tuan from the post as the head of the ministry for his wrongdoing in the case in which telco Mobifone acquired TV pay service provider AVG.
Nguyen Manh Hung was appointed as the new Minister of Information and Communications. Source: VGP.
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He went through the ranks of Viettel before becoming the chairman and CEO of the telco, for which he is highly regarded as the architect behind Viettel's success story.
At a meeting with Prime Minister Nguyen Xuan Phuc on June 26, Hung informed the group has become one of the world's top 15 largest telecommunications companies with 100 million subscribers globally.
With an annual growth of 10-15% by 2020, Viettel set revenue target of VND350 trillion-VND400 trillion (US$15.4-US$17.6 billion USD), pre-tax profit of VND50-55 trillion (US$2.18 - 2.4 billion) and becoming one of the top 10 telecom firms in the world, stated Hung in the meeting.
Viettel currently is the only Vietnamese companies having revenue of over US$1 billion from investments abroad. Total number of customers using Viettel's services in foreign markets is estimated at 43 million by the end of 2017, up 15% year-on-year.
In 2018, Viettel targeted a positive profit in overseas investments with a growth rate of 32% compared to 2017, while expanding its customer base in foreign markets to 50 million.
Viettel is operating in 11 countries, including Vietnam, Cambodia, Laos, Timor East, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar.
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