Viettel Global turns 20 - the spirit of the start-up era

Viettel's impressive growth in foreign markets

After nearly two decades of going abroad, Viettel has built prestige and reputation for its business brand in particular and Vietnam in general in the international arena.

In 2006, Viettel Global went abroad when the world's telecommunications giants had basically established a solid position in the global market, but in its own way, this business was still successful in "Going Global".

To date, Viettel Global has established a solid position in 10 countries on 3 continents, with 90 million customers. 7 markets have occupied the No. 1 position in mobile market share, revenue growth of ~20% for 10 consecutive years, 4-5 times higher than the world's average industry growth. Viettel Global's capitalization value is over 10 billion USD, in the list of enterprises with the largest capitalization in the Vietnamese stock market.

In 2024, the world will have many fluctuations, the global market will face many difficulties and challenges. However, 2024 will be a successful year for Viettel Global with record revenue and profit. This enterprise will maintain a strong growth momentum of 25%, 6 times higher than the growth of the world's telecommunications (according to Gartner).

Photo: Viettel Global

According to Viettel Global, one of the three main factors that have created the strong growth momentum of the enterprise is people. In recent years, Viettel Global has selected excellent personnel to go abroad, converging capacity, experience, courage and initiative.

In addition, Viettel Global always has a network that aims to serve customers best in terms of coverage and speed. Viettel even continues to invest in new technologies such as expanding 4G in Africa and deploying 5G in America and Asia. In addition to telecommunications, this enterprise also has digital services such as e-wallets. Currently, e-wallets contribute 30% of revenue in 2024. This enterprise also builds a smart pricing strategy, helping to increase revenue and profit. Along with that is significant growth in subscribers and returning to conquer urban customers in Africa.

Mr. Tao Duc Thang, Chairman of Viettel said: "In addition to economic efficiency, Viettel also determines that overseas investment is closely linked to political, cultural, social, national security and defense tasks, thereby helping to promote cultural diplomacy, national defense diplomacy, spreading the image of the country, people, and achievements of Vietnam internationally. This is also a good opportunity to create knowledgeable, experienced, intelligent, and courageous cadres not only for Viettel but for the country in general."

Pioneer in developing digital services

Statistics show that in 2024, Viettel Global's non-telecommunications revenue will grow well, reaching 372 million USD, higher than the growth rate of telecommunications services. Of which, the outstanding digital service is e-wallet, reaching revenue of over 102 million USD and having the highest revenue growth rate among services, up 72%.

Viettel Global focuses on developing information technology solutions and new services. Notably, the deployment of Super Apps in 100% of foreign markets, providing digital content services, increasing customer experience and satisfaction is an environment to promote new digital services such as TV360, games... This is a new direction to expand the development space, Viettel Global's plan for 2025 and the following years is to continue to promote this field with a growth rate of over 40% annually.

In addition, Viettel's foreign markets mostly have a diverse ecosystem of digital products and services based on telecommunications and have transformed into technology companies (techco), not telecommunications companies (telco) as before. 5G, AI, Big Data, Cloud, IoT or network security... will be the new key technology fields in the future of the markets Viettel is investing in.

Viettel Global - full of energy to break through

In the context of the global traditional telecommunications market trending down, Viettel Global still aims to maintain a sustainable growth rate of over 2 digits in the next 5 years. In Africa and Haiti, the penetration of telecommunications and mobile Internet is still low, annual growth is still at 2 digits, so telecommunications and e-wallet services will continue to be the main source of growth in the next 5 years.

On the contrary, in the Asian and Peruvian markets, where the telecommunications and mobile Internet sectors have reached saturation, Viettel Global will expand into digital service and information technology solutions, in line with the digital economic development roadmap and increasing demand for telecommunications services by people and businesses.

In addition, Viettel Global also cooperates with businesses within the group to bring Viettel's domestic products and services to foreign markets, effectively implementing the group's "go global" strategy, and collaborating for sustainable development.

In addition to developing in depth and intensively in each country, Viettel Global will develop in breadth by continuing to seek new markets, diversifying investment forms to meet the needs and specific conditions of each market and expanding development opportunities.

Viettel Global is prioritizing research, serious, careful and comprehensive evaluation of a number of markets with outstanding potential. The goal in the next 5 years is that Viettel Global is determined to have at least 1 new market. As Ms. Nguyen Thi Hoa - General Director of Viettel Global shared: "Expanding new markets creates new difficulties, which is also the driving force for development, growth, and regaining the enthusiasm of the start-up days".

Source: https://vietnamnet.vn/viettel-global-buoc-vao-tuoi-20-khi-the-thoi-khoi-nghiep-2384170.html