Viettel earns nearly 2 billion USD profit in 2017 hinh anh 1Viettel, posted a profit of around 44 trillion VND last year, increasing 12 percent from the previous year. — (Photo: courtesy of Viettel)

Hanoi (VNA) – The military-run telecom group Viettel posted a profit of around 44 trillion VND (nearly 2 billion USD) last year, increasing 12 percent from the previous year.

At its conference to review activities held last weekend, Viettel announced that its total revenue reached 250.8 trillion VND in 2017, up 9.4 percent from 2016.

Despite the group spending a big investment for its 4G network and the largest scale telecoms network in Myanmar, it still yielded a 12 percent increase in profit in 2017.

Its overseas investment rose by 24.4 percent, six times higher than the world average.

The local telecom business contributed 65.6 percent of the group’s total revenue, while its overseas investment contributed 12.5 percent.

Viettel also earned 12.5 trillion VND from its production of equipment, including 300 BTS 4G stations. In 2017, it had 25 licences of invention, three times higher than that of 2016 and took the third position in the country.

The giant telecom group contributed 41.1 trillion VND to the State budget, up 2.3 percent from the previous year.

Viettel also received important awards such as the most profitable firm in Vietnam, the biggest taxpayer in the country and the company with the highest brand value of 2.6 billion USD.

The group will target total revenues of 277 trillion VND in 2018, increasing 10.5 percent from last year, and will expect profit to rise by 3.2 percent to 45.5 trillion VND.

Its number of 4G subscribers this year is expected to hit 17 million.

It also plans to improve network quality to bring its 4G data speed to the top 10 of the world.

Viettel will inaugurate its mobile phone services in Myanmar – its 10th foreign market this year.-VNA