Group sets its sights on becoming a major global player by 2020.
The Viettel Group has announced that from now until 2020 it will become a global telecom group and one of the 20 largest telecommunications enterprises in the world. It will also strive to bring telecommunications and IT services to all areas of society, creating a boom in Vietnam’s technology sector.
The goals were announced by CEO of the Viettel Group, Mr. Nguyen Manh Hung, at a group conference on August 28.
Viettel has recorded total revenues since the beginning of the year of VND232 trillion ($10.44 billion), 16 per cent more than the target, with pre-tax profit estimated at VND47 trillion ($2.11 billion), 67 per cent higher than targeted.
In the 2015 to 2020 period Viettel targets revenue from VND450 trillion ($20.25 billion) to VND500 trillion ($22.5 billion), average growth of 15 to 20 per cent, and profit of VND75 trillion ($3.37 billion) to VND95 trillion ($4.27 billion). It also targets to invest in 20 to 25 countries around the world and for annual labor productivity to reach VND4.1 billion ($184,000) per person.