Viettel urged to enter world top 10 telecom firms by 2025

Prime Minister Nguyen Xuan Phuc hands over the Order of Independence, first class to representatives from Viettel  (Source: VNA)

Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc has said he wants Viettel to strive to become one of the world’s 10 biggest telecoms firms by 2025. 

Speaking at a ceremony marking the military-run company’s 30th founding anniversary in Hanoi on June 1, the Government leader said the State believes in and trusts Viettel to lead the country in the Fourth Industrial Revolution (Industry 4.0).

Established in 1989 with the name of Sigelco, the group has become one of the 30 largest telecommunications companies in the world, and among the 500 most valuable brands on the planet.

The group is one of the few Vietnamese enterprises able to compete with leading corporations in the region and the world, according to the PM.

PM Phuc said he hopes that by 2045, Viettel would be among the world's leading industrial high-tech manufacturers, adding the firm’s revenue shows Viettel's effective operation, creating a foundation for socio-economic development, removing the notion that State-owned enterprises find it difficult to compete effectively.

Besides performing well economically, Viettel has also carried out national security and defence-related tasks while researching military technology and equipment,and producing many important products used by armed forces.

These solutions have saved hundreds of millions of USD for the country, contributing to not being dependent on foreign equipment.

The PM said technology will be a key factor for Vietnam to avoid the middle-income trap and become a developed country, adding that innovation and invention are the path to becoming a powerful country.

Technology has never before been able to create a different business model from traditional models, giving an opportunity today to make breakthroughs for the country. Therefore, the Government, the Central Military Commission and the Ministry of Defence have entrusted Viettel to be at the forefront of Industry 4.0.

PM Nguyen Xuan Phuc visits a technology showroom of Viettel (Source: VNA)

He asked Viettel to perform as a main player in the national digital transformation, focusing on digital transformation in the Government, enterprises and in society; and to quickly deploy 5G technology and infrastructure to grasp opportunities in Industry 4.0.

The group is also tasked with developing the high-tech defence industry and manufacturing electronic and telecommunications equipment, especially network infrastructure equipment.

Currently, it is the first network operator testing 5G service in Vietnam and serves more than 70 million domestic subscribers and 10 international markets.

Speaking at the event, Major General Le Dang Dung, acting Chairman and General Director of Viettel, said the firm will continue to play a leading role in telecommunications and information technology,and pioneer in the field of technology and industry, as well as promote digital transformation and social development in Vietnam.

Over the last three decades, from its initial main business of construction and installation of telecommunications projects, Viettel has developed five new industries, including telecoms and information technology services, telecom electronics, defence industry, network security, and digital services.

It is considered as one of the largest and most efficient State-owned enterprises in Vietnam.

Since 2000, Viettel has earned more than 1.78 quadrillion VND in revenue and 334 trillion VND in profit. It has spent 3.5 trillion VND on social welfare activities.

Late last month, Viettel established Viettel High Technology Industries Corporation (VHT), its seventh subsidiary.

In the near future, the firm will focus on electronics and telecommunications, the defence industry and cyber security.-VNA