Thursday, July 18,2024 - 8:3 GMT+7  Việt Nam EngLish 

Viettel Global (VGI) sees many opportunities in 2024 

 Saturday, June 15,2024

AsemconnectVietnam - On June 5, Viettel Global Investment Joint Stock Corporation (Viettel Global - stock code VGI) held the 2024 Annual General Meeting of Shareholders, approving all reports of the Board of Directors.

At the meeting, Chairman of the Board of Directors Dao Xuan Vu said: "Viettel Global has determined the goal of promoting Digital Transformation at the Corporation and market companies to improve professionalism and efficiency in internal management as well as in business operations; Diversify M&A activities and expand new markets when there are opportunities, in line with the Corporation's general strategy".
On behalf of the Board of Directors, General Director Phung Van Cuong said that in 2023, the world will face many challenges such as: the Russia-Ukraine conflict continues to drag on, a series of countries in the African region have military coups, the Israel-Hamas conflict erupts in Gaza.
The global economic growth of 3% is the lowest since 2003 (except for 2020: -2.8% due to the Covid pandemic). The inflation rate decreased but remained high at 6.9%, causing governments to apply many monetary tightening measures, increasing interest rates for a long time, greatly affecting the global financial market.
Overcoming these difficulties, Viettel Global still maintained double-digit revenue growth and pre-tax profit increased continuously in the past 3 years. Viettel Global's total consolidated revenue increased by 17.7% compared to 2022, completing 114.6% of the plan. Consolidated pre-tax profit increased by 28.7%.
Some notable achievements that Viettel Global achieved in 2023 include Natcom rising to the No.1 position in market share in Haiti, and in early 2024 Movitel rising to the No.1 position in market share in Mozambique, bringing the number of companies leading in market share in the international market to 7 companies (Metfone - Cambodia, Unitel-Laos, Telemor-East Timor, Mytel-Myanmar, Lumitel-Burundi, Natcom-Haiti, Movitel-Mozambique). These are important milestones marking Vietnam's position in the international arena. The General Meeting of Shareholders approved the 2024 plan with a total consolidated revenue of VND31,746 billion, equivalent to 2023 and a consolidated pre-tax profit of VND5,477 billion, an increase of 41.2% compared to 2023. Viettel Global also aims to increase at least 2 million telecommunications subscribers and increase at least 6 million digital subscribers; continue to maintain good business operations for traditional telecommunications services (mobile, fixed broadband); at the same time, expand space, promote the development of new services (superapp, e-wallet).
At the Congress, General Director Phung Van Cuong analyzed that Viettel Global's telecommunications subscribers in 2023 increased by 4.5 million, a bright spot in the context of the saturated world telecommunications market. More importantly, the number of digital service subscribers in 2023 (e-wallet, super app...) increased by 11 million subscribers, much higher than the increase in telecommunications subscribers, reflecting the digital transformation trend of the market and showing the correctness of Viettel Global's strategy when transforming from a telecommunications enterprise to a digital service enterprise in the investing countries.
Mr. Phung Van Cuong also affirmed: "Viettel Global expands its business space in both depth and breadth. In terms of depth, to develop sustainably and effectively, Viettel Global maintains its No. 1 position and continues to expand new services in the market such as e-finance, Cloud, convenient digital services for the government and people... In terms of breadth, Viettel Global continues to survey and seek investment opportunities in new markets".
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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