08:35 (GMT +7) - Monday 23/09/2019

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Viettel establishes Viettel High Technology Industries Corporation

Released at: 20:13, 27/05/2019

Viettel establishes Viettel High Technology Industries Corporation

Photo: Viettel Group

New corporation to focus on the defense industry and the electronics and telecommunications industry.

by Ngoc Lan

Viettel has officially established the Viettel High Technology Industries Corporation (VHT), which will focus on the defense industry and the electronics and telecommunications industry.

Its establishment continues Viettel’s fourth phase of development to become a high-tech industry group with three key industries: defense, electronics and telecommunications, and network security. The new company will lead in creating “Made in Vietnam” products in defense, dual use, and network technology for international markets.

Viettel’s research and production has entered its ninth year after three phases. Phase 1 (2011-2013) focused on researching core platforms and technologies, building processes to shape product lines, and initially conducting product testing.

Phase 2 (2014-2016) saw Viettel sell products to domestic units. Since 2017, it has standardized its processes according to international standards, mastered core technologies, and initially brought products to world markets.

Viettel’s approach is to master all research - design - manufacturing processes with absolute security. It has now successfully researched 78 products, mastering 68 core technologies with 111 patents. Total revenue from high-tech products as at 2018 reached $1.05 billion.

Major General Le Dang Dung, President and General Director of the Viettel Group, affirmed that its goal by 2030 is to stand in the Top 10 largest telecommunications and information technology enterprises in the world. “Only by mastering core technology can a country become developed and advanced,” he said. “The Viettel High Technology Industries Corporation will be an important contributor to the military modernization process, gradually building synchronous, modern infrastructure and strong resources for the development of national defense and industry, bringing Vietnam out of the middle-income trap and becoming a developed country.”

2018 was a successful year for the corporation in expanding its foreign investment in Asia. Mytel, the Viettel brand in Myanmar, reached nearly 5 million subscribers after just six months of official business, for a market share of more than 10 per cent. Service revenue increased 20 per cent during the year, mobile subscribers grew nearly 70 per cent, and cash flow back to Vietnam reached $240 million, up more than 3 per cent against 2017.

Viettel changed its name to the Military Industry and Telecoms Group last year and announced it would move to the fourth stage of its development, with the goals of globalization and leading the way in Industry 4.0.

Viettel is on a Brand Finance list of the 500 most valuable brands in the world, with a valuation of $4.316 billion. Its brand value has risen 35.8 per cent, or more than $1 billion, since early 2018, primarily due to its presence in ten foreign markets, proving it has become a highly-competitive operation in the international market.

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