Viettel’s revenue from overseas investment reaches 1.7 bln USDMonday, May 7,2018
AsemconnectVietnam - Viettel Group’s revenue from its overseas investment in 2017 surged by 38 percent from the previous year to reach 38 trillion VND (1.7 billion USD).
The revenue which came from Viettel Global and Peru market was nine times higher than the average level of the world’s telecommunication sector, according to its recent integrated financial report.
Of these, Viettel’s new foreign markets in Africa and America continued to see the strong growth rate such as Viettel Cameroon increased by 103 percent, Viettel Mozambique 79 percent and Viettel Peru 37 percent. Alone in the fourth quarter of 2017, Viettel’s revenue from overseas investments rose by 40 percent from the same period last year.
Viettel is the only company in Vietnam having revenue of more than 1 billion USD from overseas investments. The total number of customers using its telecommunication services in foreign countries by the end of 2017 was more than 43 million, representing 15 percent year-on-year rise. The number was five times higher than the average in the world.
The group still had a strong growth rate in many foreign markets in 2017 though it focused resources on its new markets such as Tanzania and building network infrastructure for Myanmar.
The pioneering in providing 4G services to 7 out of its total 10 foreign markets has contributed to the growth rate last year. Its average revenue per user (ARPU) in 2017 was also increased by 20 percent.
In addition, Viettel has also promoted to provide information and technology (IT) applications to big firms and governments in many foreign markets, contributing to the high growth in 2017. The total revenue from IT projects with foreign governments rose by 6 times from the previous year.
Viettel targeted revenue growth rate in 2018 increase by 32 percent while the growth of total number of customers was 16 percent from last year to 50 million people. It set high growth rate for Viettel Tanzania at 70 percent, Burundi 21 percent and Viettel Peru 20 percent.
Viettel has operated in 11 countries including Vietnam, Campuchia, Laos, East Timor, Haiti, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar. Of these, it takes the leading position in five foreign markets in term of market share. All of the countries where it has operated for more than three years reported a profit.
Viettel was in the Top 30 telecommunication groups having largest numbers of customers in the world thank to its expansion to the foreign market.
In the second quarter of the year, Viettel would officially inaugurate its services in Myanmar – a potential and key market in the upcoming time.
Trung Nguyen Legend launches premier coffee capsules
Hoa Phat Group moves to expand market share of steel products
Bao Minh Insurance Corporation defining with “effective and sustainable development”
Sharp Vietnam aims for 135% growth
Amata to start construction of Song Khoai IP
Seafood firms struggle in local market
UK firm plans offshore Binh Thuan wind farm
PetroVietnam fulfills yearly production targets ahead of schedule
Top 500 largest enterprises in Viet Nam announced
Organic firms need to do research
Small sized firms limiting Vietnam’s logistics potential
Leipzig opens office in HCM City
Hoa Sen Group to focus exclusively on steel business
Vietjet to launch routes from Van Don