Military telecommunication group targets US market

June 20, 2013 | 10:26

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The Military Telecom Group, Viettel, plans to carry out a $33 million project to boost its business in the US market with a focus on international telephone service.

As envisaged, Viettel will take advantage of the US market as a lever to support Viettel’s business in Vietnam and its foreign markets.

Talking with the Online Saigon Economic Times, Le Dang Dung, Viettel’s deputy CEO, shared that Viettel planned to concentrate its business on international telephone service from the US to Vietnam or from the US to countries where the company has invested projects. Accordingly, Viettel will sell international telephone cards for these services.

Earlier, this military group has invested in mobile phone network and internet services in several markets.

To materialize its plan, the group established a company in the US early this year and is asking for service business license in this market.

To this end, this military group will contribute chartered capital of $100,000 to setting up Viettel America Company, and loan its affiliate nearly $33 million.

Last year, the group earned VND140,000 billion, 15 percent of which came from foreign markets. The group has been working to increase the proportion of its turnover from overseas markets by 2015.

This year, the group set a goal of increasing its total turnover by nearly 20 percent, and turnover from foreign markets by 50 percent.

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