Viettel’s revenue from overseas investment reaches US$1.7 billion

People in East Timor register for Viettel’s 4G SIM card.

The revenue which came from Viettel Global and Peru market was nine times higher than the average level of the world’s telecommunication sector, according to its integrated financial report released on Friday.

Of these, Viettel’s new foreign markets in Africa and America continued to see the strong growth rate such as Viettel Cameroon increased by 103 per cent, Viettel Mozambique 79 per cent and Viettel Peru 37 per cent. Alone in the fourth quarter of 2017, Viettel’s revenue from overseas investments rose by 40 per cent from the same period last year.

Viettel is the only company in Viet Nam having a revenue of more than $1 billion from overseas investments. The total number of customers using its telecommunication services in foreign countries by the end of 2017 was more than 43 million, representing 15 per cent year-on-year rise. The number was five times higher than the average in the world.

The group still had a strong growth rate in many foreign markets in 2017 though it focused resources on its new markets such as Tanzania and building network infrastructure for Myanmar.

The pioneering in providing 4G services to 7 out of its total 10 foreign markets has contributed to the growth rate last year. Its average revenue per user (ARPU) in 2017 was also increased by 20 per cent.

In addition, Viettel has also promoted to provide information and technology (IT) applications to big firms and governments in many foreign markets, contributing to the high growth in 2017. The total revenue from IT projects with foreign governments rose by 6 times from the previous year.

Viettel targeted revenue growth rate in 2018 increase by 32 per cent while the growth of total number of customers was 16 per cent from last year to 50 million people. It set high growth rate for Viettel Tanzania at 70 per cent, Burundi 21 per cent and Viettel Peru 20 per cent.

Viettel has operated in 11 countries including Viet Nam, Campuchia, Laos, East Timor, Haiti, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar. Of these, it takes the leading position in five foreign markets in term of market share. All of the countries where it has operated for more than three years reported a profit.

Viettel was in the Top 30 telecommunication groups having largest numbers of customers in the world thank to its expansion to the foreign market.

In the second quarter of the year, Viettel would officially inaugurate its services in Myanmar – a potential and key market in the upcoming time.