People in Timor-Leste register for Viettel’s 4G SIM card (Source: internet) Hanoi (VNA) – Vietnamese firms have hada lot of success while investing in foreign markets.
The military-run telecom giant Viettel announcedthe total amount of profit transferred to Vietnam from its foreign ventures was1.3 billion USD by the end of 2017.
Revenues from foreign investment, includingsales of Viettel Global and the Peruvian market, exceeded 38 trillion VND (1.7billion USD) in 2017, showing a year-on-year rise of 38 percent, more than ninetimes the average growth rate of the global telecommunication industry.
In the second quarter of 2018, Viettel willlaunch services in Myanmar, its 10th foreign market after Cambodia,Laos, Timor Leste, Haiti, Peru, Mozambique, Cameroon, Burundi, and Tanzania.
Meanwhile, TH True Milk, a leading milkproducer, said it is waiting for the first products from its first dairy farmin Russia, which was inaugurated earlier this year.
TH True Milk hopes to reap success like FPT –the largest information technology service company in Vietnam - has had in theUS, Europe and Japan and Vinamilk in the US and Cambodia.
Effective business operation will encourage moreVietnamese businesses to invest abroad.
Apart from traditional markets such as Laos,Cambodia and Myanmar, Vietnamese businesses are expanding to other markets likeAustralia, New Zealand, the US, Canada, Haiti and Cameroon.
Major banks such as the Joint Stock CommercialBank for Investment and Development of Vietnam (BIDV), the Vietnam Joint StockCommercial Bank for Industry and Trade (Vietinbank), the Saigon Thuong TinCommercial Joint Stock Bank (Sacombank), the Military Bank (MB) and theSaigon-Hanoi Commercial Joint Stock Bank (SHB) are seeking to make inroads innew foreign markets.
According to the Foreign Investment Agency underthe Ministry of Planning and Investment, finance and banking is leading theVietnamese sectors in pouring investment abroad with newly-registered andincreased capital of 105 million USD in the first four months of this year,making up 68.3 percent of the country’s total investment in foreignmarkets.-VNA
VNA
