State-owned Viettel plans to expand into 30 to 35 countries and become one of the world’s top 10 telecoms firms within five years.
The Vietnamese operator’s executives shared their ambitious expansion plans with prime minister Nguyen Tan Dung on Wednesday, VietNamNews reported.
Viettel, which is run by the military, is the country’s second largest company with revenue increasing 20 per cent to VND197 trillion ($9.38 billion) last year. Its pre-tax profit last year rose 15 per cent to VND42 trillion. It also is the country’s top taxpayer, with tax payments hitting VND15 trillion in 2014.
The company, which is the country’s leading mobile player with a 45 per cent market share, also owns three telecoms equipment and electronic device research institutes, two software companies and two factories, ViewNamNews said. It has about 75,000 employees in Vietnam and 15,000 abroad.
Its overseas revenue expanded 25 per cent to $1.2 billion last year. It has made investments in nine countries in Asia and Africa.
In December Viettel Global announced plans to invest $800 million to set up operations in Myanmar. Viettel, which participated in Myanmar’s auction last year along with ten other shortlisted foreign investors, is keen to break into the emerging market with a mobile penetration of about 11 per cent.
The executives told the prime minister they aim to again increase revenue 20 per cent and profits 15 per cent this year.