Vietnamese military-backed telco Viettel Group has revealed that revenues generated by its overseas units surged 38% in 2017, to reach VND38 trillion (USD1.7 billion). Viettel claims that this top-line figure means that it is the only Vietnamese company to have earned revenues of more than USD1 billion from its overseas investments. While precise figures have not been disclosed, the group notes that Viettel Cameroon (Nexttel) increased its sales by 103% in 2017, with Viettel Mozambique (Movitel) growing sales 79% and Viettel Peru (Bitel) posting a 37% top-line improvement.
In operational terms, the total number of customers using Viettel’s services in overseas markets at the end of December 2017 was said to be more than 43 million, representing 15% year-on-year rise. Outside of its domestic market, Viettel is active in Cambodia, Laos, Timor-Leste, Haiti, Peru, Mozambique, Cameroon, Burundi, Tanzania and Myanmar. It claims a leading market position in five of these markets (Cambodia, Laos, Mozambique, Burundi and Timor-Leste) and has generated a profit in all markets where it has operated for more than three years.