Viettel announces strategy for fourth development period

Viettel announces its strategy for the next decade

In the framework of the ceremony, Nguyen Manh Hung also handed over Viettel’s strategy for the fourth development period to Dung.

Hung is a member of the Party Committee and is Party Secretary of the Ministry of Information and Communications, as well as deputy head of the Communist Party of Vietnam Central Committee’s Commission for Information and Education.

After three decade-long development periods, Viettel has grown from a construction company (1989-1999) to the biggest Vietnamese telecom service provider (2000-2010) and is now a technology company (since 2010).

The group is now poised to begin its fourth period two years earlier than expected.

To last from now to 2030, the period has a number of ambitious goals: sustaining 10-15 per cent annual growth, becoming a global tech corporation, retaining leadership of the Vietnamese telecom and high-tech sectors, becoming one of the top 150 global companies, the top 10 telecom and IT companies, the top 20 electronic companies, and the top 50 network security companies.

At the end of the period, 55 per cent of its turnover will come from telecom and IT, 25 per cent from technology, and 10 per cent each from innovation and its traditional fields.

During the period Viettel will seek to play a leading national role in technology, services, and research and development in the context of Industry 4.0.

It will prioritise 4.0 projects for e-government, education, agriculture, and smart cities from central to local levels.

It will continue to offer an efficient business model for state firms and accept difficult national missions.

Dung has been chosen by the Ministry of Defence and the management and staff of Viettel to lead it during the new period.

Le Dang Dung at the ceremony to announce the strategy for the fourth development period

At the ceremony, he expressed his commitment and determination to lead the group into a new historic chapter of international business as he inherits the technological achievements of Viettel during its third period.

He said, "Inheriting Viettel’s glorious achievements and unique culture, the successor team will accomplish its tasks by sustaining the principle of centralised democracy and collective decision making, but still playing outstanding individual roles.”

“We have to identify key fields and products to focus investment on, pay attention to the welfare of our staff and make workers happy and love Viettel,” Dung stated.