Viettel Telecom wants to become a technology enterprise

Viettel Telecom received the First Class Labor Medal and announced its plan to transform into a technology company with a revenue target of VND115,000 billion by 2030.

Viettel Telecom General Director Hoang Trung Thanh speaks at the event. Photo: VTT.

On October 16, Viettel Telecom Corporation held a ceremony to receive the First Class Labor Medal on the occasion of its 25th anniversary. Mr. Hoang Trung Thanh, General Director of Viettel Telecom, announced the target of service revenue reaching 115,000 billion VND by 2030 in the journey of transformation from "Telco" to "Techco".

Viettel Telecom has set out four main pillars for its development strategy in the coming period. In terms of technology and network, the company will invest in telecommunications infrastructure, data infrastructure, and digital utility infrastructure. The company will also pioneer in AI, cloud-native, IoT, and prepare for 6G.

With products and services, Viettel Telecom will develop platforms with open architecture, integrating AI and Cloud. The company plans to expand cooperation with global Bigtech. Among these partners, Viettel Telecom will hold core technology and platforms.

"The new business model based on alliance, cooperation, resource and benefit sharing is the main stream," said Mr. Hoang Trung Thanh.

Viettel headquarters in Hanoi . Photo: VTT.

Regarding revenue structure, the company aims for non-telecom service revenue to account for 20% or more of total service revenue. This is a ratio equivalent to Telcos that have converted into Techcos in the world .

In terms of operations, Viettel Telecom will apply professional management methods modeled after leading technology companies. AI will be applied in internal operations and product services. The process system will be operated by AI. The company will also increase human resources in the field of information technology.

Currently, Viettel Telecom has more than 70 million customers, including more than 10 million 5G users. The company has connected nearly 10 million households with fiber optic internet. Cumulative revenue over 25 years has exceeded 1 quadrillion VND. The company holds the No. 1 position in mobile and fixed broadband market share.

However, Mr. Hoang Trung Thanh admitted that the company is facing many challenges. Technology changes rapidly. Non-traditional competitors tend to become major competitors. The 34 Viettel models in provinces/cities require adjustments to business strategies and management methods.

Lieutenant General Tao Duc Thang, Chairman and General Director of the Military Industry-Telecoms Group, commented that Viettel Telecom's conversion from Telco to Techco is "completely correct thinking and vision".

"The Group believes that the solutions and actions that Viettel Telecom has proposed are very clear and feasible, both ensuring the maintenance of core services and making breakthroughs to enter and dominate new services," said Mr. Tao Duc Thang.

The Group’s leaders requested Viettel Telecom to make breakthroughs in applying science and technology, innovation and digital transformation. The company needs to make breakthroughs in international cooperation, pioneer in building policy mechanisms and be proactive in building organizational structures.

Mr. Tao Duc Thang also emphasized the importance of human resource development. Viettel Telecom needs to have a systematic training program for high-quality human resources and a team of experts.

Viettel Telecom started with long-distance telephone service 178 on October 15, 2000. In 2004, Vietnam had less than 5% of the population accessing mobile services. After 5 years, the service penetration rate has exceeded 100%.

Source: https://znews.vn/viettel-telecom-muon-tro-thanh-doanh-nghiep-cong-nghe-post1594558.html