Paying USD 3 million dividends for the first time at Natcom.
Natcom - a joint venture of Viettel Group in Haiti just marked the 7th anniversary of the establishment. According to figures released by Natcom, its share dividend in 2017 was paid at USD 3 million.
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This is the first time Natcom has paid its stake for its shareholders since the official launch of the company in September 2011. This payment plays an important role to the Haitian Government after seven years of joint venture cooperation, helping to prove results to the National Assembly and affirm Natcom's position in the eyes of Haitians.
In the first six months of 2018, Natcom's mobile services and fiber optic internet (FTTH) customer growth was 1.5 times and 2 times higher than that of 2017.
In early August, Natcom was provided with 1,700 Mhz frequency band used for rendering 4G services. This is considered both a "golden" frequency band as it is able to support Natcom's terminals in Haiti at the highest rate, namely 86% according to the analysts' calculations and an important weapon for Natcom to compete with other operators in the 4G competition. At present, Natcom is in the process of importing equipment and expects to carry out nationwide infrastructure development.
Prior to such event, Natcom overtook many other suppliers to win important contracts such as National road network project for the Government of Haiti valued at USD 5.5 million; a contract with UNESCO valued at USD 425,000; 4G order to serve the office of President of Haiti, the second N-Office project for the General Department of Customs, provision of 24 Internet links to member schools of Haiti Medical University bringing nearly USD 400,000, etc.
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In addition, the Government of Haiti expresses its credibility and agrees on tax exemption for Natcom until 2018 with respect to supplies and equipment imported in order to overcome consequences of super typhoon Matthew in 2016, thereby helping the company save up to USD 2 million.
As stated by Mr. Ha The Duong, General Director of Natcom: "Upon going through difficult times in Haiti, Viettel is on the way to achieve good business results. By making the best of USD 1,700 Mhz "golden frequency band" licensed, Natcom has a good chance of competing in providing 4G services to its competitors". At present, Natcom is known as the leading infrastructure company in Haiti with 1,800 2G/3G/4G stations, 6,000 km of fiber optic cables and the second largest market share with nearly 3.4 million customers, accounting for 35% market share.
According to the plan, Natcom is expected to achieve revenue and profit growth at 17.5% and 47%, respectively in 2018.
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Haiti is the overseas market with the most difficult initial investment conditions in the international investment history of Viettel Group and also the overseas market furthest away from the head office of Viettel Group at the time of investment decision. In 2010, the worst earthquake in the history of mankind taking the lives of more than 300,000 Haitians had occurred just three days before Viettel came to this country to enter into a contract for establishment of telecommunications joint venture. It was firmly believed that Viettel would not return and make any investment commitment in the context that 90% of Haiti's major projects were completely destroyed or seriously damaged, the capital Port-au-Prince was almost flattened, more than 2 million people are homeless, etc. In addition to the above damages, Haiti did undergo political instability, frequent violence, protests, high inflation, and theft while 80% of the 9.8 million Haitians living in poverty with less than USD 2 a day. For Teleco Telecoms Company which Viettel intends to buy 60% of capital to establish a joint venture, more than 80% of infrastructure was completely destroyed. Prior to the earthquake, Teleco had suffered a loss of at least USD 1 million/ month lasting from 2001. It had only about 40,000 fixed telephone subscribers which experienced a gradual decline afterwards. Meanwhile, Viettel did not have any experience in running business operations in a place far away from its head office like this. Cambodia and Laos - two markets where Viettel has succeeded and held the number 1 position in telecommunications are only 2 hours away from Vietnam; whereas, it would take about five days to get to Haiti since the decision is made. This fact explains why TelecomTV One (UK) commented that "Viettel has been on the way that the capitalist is afraid!" when Vietnam’s telecommunication operator officially took over Teleco and established a joint venture with Natcom. Just over a year since the first official launch of telecommunications network (September 07 th, 2011); however, Natcom has quickly become a mobile network with the leading infrastructure network in Haiti, as well as the first enterprise to completely build a fiber-optic infrastructure with a length of 4,681 km for Haiti after the earthquake. |
