Viettel records US$1.3 billion in revenue from overseas investment
By the end of 2017, Viettel posted US$1.3 billion in revenue from investing in oversea markets, announced the military-run telecom group.
In 2017, revenue from overseas investment, including Viettel Global and Peru's market reached VND38 trillion (US$1.7 billion), up 38% year on year and 9 times higher than the average growth rate of world's telecom sector.
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Viettel currently is the only Vietnamese companies having revenue of over US$1 billion from overseas investments. 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 and 5 times higher than the average in the world, while others regions such as Africa posted growth rate in customers expansion of 6%, Africa of 3% and Asia of 3%.
Additionally, Viettel is providing 4G network at 7 out of its 10 foreign markets, along with its average revenue per user (ARPU) in 2017 also increased by 20%.
In 2018, Viettel targets a positive profit in overseas investments and a growth rate of 32% compared to 2017; customers growth rate of 16%, taking its total customers to 50 million.
Viettel is operating in 11 countries, including Vietnam, Cambodia, Laos, Timor East, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar.
Viettel is under the direct management of the Ministry of Defense, undertaking political, military and national defence duties assigned by the government and the Ministry of Defence, while doing business and production in compliance with Vietnam's laws and regulations.
Member companies of Viettel will operate independently and are fully responsible under the law. Therefore, the working relationship between Viettel and member companies must be established and implemented fairly and equally.
Current chartered capital of Viettel as of January 5 is VND121 trillion (roughly US$5.35 billion), which will be gradually increased to VND300 trillion (US$13.2 billion) by 2020.
Brand Finance, an independent branded business valuation consultancy has released the top 50 Vietnamese Brands 2017 last December, revealing Viettel as the best brand value with US$2.5 billion.
In 2017, Viettel's brand value has been triple compared to the Brand Finance's release on 2016, contributing 22.8% of the total value of top 50 Vietnamese Brands ranked by Brand Finance. The telecommunication sector (including Viettel) also has 35% of total value in the top 50 Vietnamese Brands of Vietnam.
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