Viettel to earn more than 7 billion USD in 2023

Last year, the Military Industry - Telecommunications Group ( Viettel ) achieved consolidated revenue of 172,500 billion VND, equivalent to more than 7 billion USD.

This information was announced by Viettel on January 12. Thus, Viettel's average daily revenue reached more than 470 billion VND. Compared to 2022, the group's consolidated revenue increased by 5.4%.

However, Viettel has not yet announced its 2023 profit. In 2022, the group's profit was the highest in 5 years with a pre-tax profit of more than 43,500 billion VND.

In the mobile telecommunications sector, Viettel said it continues to hold the leading position with more than 56% market share. Viettel has deployed nearly 500 5G stations nationwide on trial. In addition, Viettel is also the leader in fixed broadband services (FTTH) with 43% market share, multi-platform television with more than 31% market share.

Viettel's overseas revenue grew by more than 20%. The group's telecommunications brands are leading in six markets including Haiti, Cambodia, Laos, Myanmar, East Timor and Brunei.

Last year, Viettel also completed research, production and large-scale testing of the 5G product ecosystem including both hardware and software. In particular, the group successfully researched the 5G DFE Chip (the most complex component of the 5G ecosystem, with the ability to calculate up to 1,000 billion calculations per second) - marking a breakthrough in Vietnam's semiconductor industry.

After hearing the report on 2023 business results at the conference on January 12, Minister of Information and Communications Nguyen Manh Hung assessed that Viettel had achieved high growth in the context of general difficulties in the industry.

Minister Nguyen Manh Hung at the conference reporting Viettel's business results on January 12. Photo: Viettel — Minister Nguyen Manh Hung speaks at the conference reporting Viettel's business results on January 12. Photo: *Viettel*

He also asked Viettel to become a global digital technology corporation, actively participating in digital transformation and green transformation. "Viettel should create technologies and platforms for others to use to create products and services for society," said Minister Hung.

In 2024, Viettel aims to increase the group's consolidated revenue by 7.2%, as well as continue to improve the efficiency of foreign investment with a return on investment rate of 84%. At the same time, the group also plans to convert all 2G subscribers to 4G before September 2024.

Viettel also announced its goal of implementing a Vietnam-China intermodal railway route. Previously, to find new space, Viettel Post - a member unit of the express delivery group - promoted the construction of a transport route between China, Vietnam, ASEAN and a smart border gate project.

Mr. Tu

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