Viettel
Viettel Group, officially known as the Military Industry and Telecoms Group (Tập đoàn Công nghiệp – Viễn thông Quân đội), is a Vietnamese state-owned multinational conglomerate headquartered in Hanoi. Established on June 1, 1989, as the Electronics and Information Equipment Corporation (Sigelco), it operates under the Ministry of National Defence, making it a significant entity within the Vietnam People’s Army.
Evolution and Expansion
Initially focusing on construction, Viettel ventured into telecommunications in the early 2000s. In 2000, it broke the telecommunications monopoly in Vietnam by introducing VoIP services under the “178” brand. By 2004, Viettel launched its mobile services with the 098 prefix, rapidly becoming a dominant player in the Vietnamese market.
Over the years, Viettel has diversified its operations into five primary business lines:
- Telecommunications and Information Technology (IT): Offering a comprehensive range of services, including fixed-line telephony, mobile telephony, broadband, and digital television.
- Research and Manufacturing of Electronic and Telecommunications Equipment: Developing indigenous products to meet both domestic and international demands.
- Defense Industry: Engaging in the production of military communication devices, drones, surveillance radars, and missiles, thereby contributing significantly to Vietnam’s defense capabilities.
- Cybersecurity: Providing solutions to safeguard information systems against emerging cyber threats.
- Digital Services: Venturing into areas such as digital financial services, e-commerce, and smart city solutions.
As of 2023, Viettel reported revenues of approximately US$7.25 billion, with an operating income of US$1.95 billion and a net income of US$1.48 billion. The group’s total assets were valued at US$12.45 billion, and total equity stood at US$7.97 billion.
Global Presence
Viettel has expanded its footprint beyond Vietnam, establishing a presence in multiple countries across Asia, Africa, and the Americas. Through subsidiaries like Halotel in Tanzania, Movitel in Mozambique, and Bitel in Peru, Viettel serves over 110 million subscribers globally.
Commitment to Digital Inclusion
Demonstrating a strong commitment to digital inclusion, Viettel has provided fiber-optic services to over 46,000 educational institutions across Vietnam and in 10 other countries, benefiting more than 25 million students.
Corporate Social Responsibility
Viettel has invested approximately VND 3,500 billion in corporate social responsibility initiatives, focusing on education, healthcare, and community development. These efforts underscore the group’s dedication to societal advancement alongside its business pursuits.
Future Outlook
Looking ahead, Viettel aims to maintain its leadership in the telecommunications sector while advancing its capabilities in technology and defense industries. The group is poised to leverage emerging technologies to drive innovation and deliver enhanced value to its customers and stakeholders.
In summary, Viettel Group stands as a cornerstone in Vietnam’s industrial and technological landscape, recognized for its extensive service offerings, robust infrastructure, and unwavering commitment to innovation and societal development.
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