“People, strategy and approach” create Viettel's success in foreign markets

6 consecutive years of growth over 15%

- Viettel is one of the Vietnamese enterprises that successfully invested abroad. Can you inform us about the current results of investing in new markets?

- Recently, Viettel has focused on promoting business efficiency in current markets while promoting the search for new international investment opportunities.

We have welcomed many delegations of leaders from many countries to exchange and also organized many delegations to visit other countries for field surveys. Many countries, such as Dominicana, Venezuela, Nicaragua in Latin America or Uganda, Guinea Bissau in Africa, are very welcoming and want Viettel to invest.

This affirms that Viettel's strategic vision, business philosophy and reputation when entering the international market are correct.

We are currently prioritizing careful and comprehensive research and evaluation of a number of potential markets. The goal is that in the next 5 years, Viettel will have at least 2 new markets.

- So, what factors does Viettel's decision to invest in a new market usually depend on?

- When deciding to invest in a new market, Viettel always follows a strict evaluation process based on efficiency criteria. The first is political stability. This is an important factor that needs to be carefully considered before choosing to invest. If the country has fluctuations or potential risks of political instability, the risk will be very high.

Second is market size. The country needs to have the appropriate population size, level of development and demand for services to deploy business, despite high competition.

Third is the policies and regulations of the host country. For markets requiring new licenses, studying the openness of the government and incentives and support for investors is a key factor. This ensures that Viettel can compete with businesses that have existed for a long time and dominate the market share.

Fourth is frequency. This is a key issue for the telecommunications industry. The market needs enough spectrum for a new operator to deploy advanced technologies, ensure coverage, service quality and market leadership.

The above factors help each of our investments not only bring economic value but also contribute to the growth of the industry and the host country, affirming that Viettel is always a sustainable and responsible investor.

Deputy General Director Dao Xuan Vu welcomed the Ambassador of Mozambique to Vietnam. Photo: D. Linh

- It is known that 2024 continues to be a successful year for Viettel's investment in foreign markets. Can you share more about this?

- In fact, this is the 6th year that Viettel's overseas companies have maintained impressive growth of over 15%. This is an annual proactive process, not a natural or lucky one.

First of all, it is about people, because Viettel always chooses the best personnel for foreign markets, converging capacity, experience, courage and initiative.

Next is the strategy for the product and service ecosystem. In which, the network always aims for the best in coverage, speed, and investment in new technologies such as expanding 4G in Africa and deploying 5G in Asia.

In addition to telecommunications services, Viettel provides digital services such as e-wallets. E-wallets alone will contribute more than 20% of additional revenue by 2024.

Third is about the way of doing. We build a smart pricing strategy, helping to increase revenue and profit along with significant subscriber growth and conquering urban customers in Africa again. Viettel organizes close, drastic and flexible operations to both solve market difficulties and suggest and accompany in finding new directions.

Diversify investment combined with finding new markets

- In the coming period, what are the new growth drivers and spaces in foreign markets?

- Finding new sources of growth is a big challenge and very important for Viettel's foreign investment strategy. Because, with different development characteristics in the investing countries, the main growth sources of each market will also be different.

In Africa and Haiti, where telecommunications and mobile internet penetration is low and annual growth remains in double digits, telecommunications and e-wallet services will continue to be the main sources of growth over the next five years.

On the contrary, in Asian and Peruvian markets, where the telecommunications and mobile internet sectors have reached saturation, Viettel will expand into digital service and information technology solutions, in line with the digital economic development roadmap and the needs of people and businesses.

In addition to in-depth development, Viettel will continue to seek new markets, diversify investment forms, such as direct investment, capital contribution cooperation and trade depending on the needs and specific conditions of each market and expand development opportunities.

Viettel Cambodia welcomed the leaders of the Ministry of National Defense to visit and work. Photo: Viettel

- Regarding human resources, as you said, it is the first factor that helps Viettel achieve its current success. Can you share more about the role of Viettel's human resources in doing business in foreign markets that Viettel invests in?

- Up to now, it can be said that Viettel staff are very willing to work abroad. Many officers and employees, after completing their missions abroad and returning to Vietnam, still express their desire to return.

This is achieved, on the one hand, thanks to the working regime abroad that helps staff feel secure, and on the other hand, more importantly, in an international environment, staff can express themselves, live, experience and assert themselves.

The leader in the foreign market not only represents Viettel, but also represents the image of the country and people of Vietnam.

I would like to share more about Bitel (Peru). In November 2024, Bitel surpassed Movistar, a network operator belonging to the world's largest group Telefónica with the longest history in Peru, to rise to 3rd place. Due to the very small and insignificant difference in market share, Bitel is determined to promote infrastructure and subscriber development to create a safe distance from Movistar and quickly approach Entel, the 2nd network operator in the market.

All Viettel staff in Peru were unanimous and stayed together to celebrate this traditional Tet holiday; among them, there were people who had not returned to Vietnam for Tet for 3-4 years.

That is a clear demonstration of the love and will, the sense of responsibility and dedication of Viettel's staff in Peru in particular, and abroad in general, and behind that is the understanding and sympathy of family and relatives.

Thank you very much!

Source: https://hanoimoi.vn/con-nguoi-chien-luoc-va-cach-lam-tao-nen-thanh-cong-cua-viettel-tai-thi-truong-nuoc-ngoai-691778.html