Viettel reports breakthroughs in business

June 28, 2018 | 16:33

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Viettel reported a breakthrough in business results during 2000-2017.

viettel reports breakthroughs in business

The prime minister lauded the growth of Viettel's business

Viettel's performance was lauded by Minister of Finance Dinh Tien Dung in the framework of the working visit of Prime Minister Nguyen Xuan Phuc to Viettel Group’s head office. He added that the development model of Viettel should be adopted nationwide.

At the meeting, after listening to a report on Viettel’s development since inception, Dung reviewed Viettel’s achievements since 2000 when Viettel entered the telecom industry.

Notably, Viettel saw a 4,600-fold increase in revenue, a 30,000-fold increase in profit, a 10,000-fold increase in tax payments - from VND4 billion ($174.4 million) to VND41 trillion ($1.787 billion) -, and a 19,000-fold increase in equity capital, and a 29-fold increase in the average income of its staff, which went from VND1.1 million ($47.96) a month to VND31.8 million ($1,386).

Beside its remarkable development in telecommunications, Viettel has also invested in research in the defence-industry and has achieved good results.

“Viettel’s development model should be summarised to compare with other enterprises in the sector. The summary should include its management model, business philosophy, marketing, and market expansion strategy, as well as growth rate, among others," Dung stated.

In the framework of the meeting, Minister of Home Affairs Le Vinh Tan stated that after visiting Viettel, the Ministry of Home Affairs also learnt from Viettel's managing model.

He hailed the management capabilities of Viettel’s leadership who operate the telecommunication group which accounts for 52 per cent of the domestic telecom market and is present in 10 different nations around the world.

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