LTC boosting investment to guaranty service growth
LTC boosting investment to guaranty service growth
Lao Telecommunication Company (LTC) this year plans to invest around US$53.7 million for system improvements and network expansion in order to improve service delivery and quality.
One of the company's important cooperation projects to develop the telecommunications system is the ICT installation project for the Laos-China Railway Project (Boten-Vientiane section), LTC Managing Director, Mr Thavone Somsakoun said at the annual meeting of the company in Vientiane yesterday.
�In response to the growing population and market demand, the company will increase its services to around 257,218 customers,� he said.
The company was targeting 1.96 trillion kip in revenue, an increase of nine percent compared to last year, net profit was expected to reach 422 billion kip or rise 15.7 percent, while about 542 billion kip in royalties would be provided to the government covering 32 percent of total income, Mr Thavone said.
To reach the targets, the company would continue to improve its human resource capacity to expand and improve marketing services, boost cooperation with business partners while complying with government laws and regulations.
The company would also focus on telecommunications system improvements and expand its network with new technology to boost convenience for customers.
Last year, the company invested US$44.4 million on system improvements and expansion, of which US$39.9 million was focused on the mobile phone network, US$1.7 million on transmission lines and US$2.7 million on the internet and other systems, Mr Thavone reported.
By implementing this strategy the company would attract new customers while retaining its existing ones, he explained.
The company now has more than 1.5 million mobile phone users, 40,899 landline phone users, 532,316 people using (2G) win phones and 895,972 3G-4G internet subscribers.
Last year, the company earned a total of 1.81 trillion kip in revenue, an increase of nine percent compared to 2015, of which 365 billion kip was net profit, with almost 500 billion kip in royalties.
LTC has also contributed 4.1 billion kip towards social development such as building primary schools, donating educational equipment, and supporting important government meetings.
Business operations of the company further contributed to socio-economic development as well as human resource capacity building.
At the occasion, Minister of Posts and Telecommunications Mr Thansamay Kommasith admired the company's great progress and the services it provided to its customers through hi-tech systems.
�The company should continue to develop and expand so that it contributed further to socio-economic development,� he suggested.
He stressed that LTC's leaders and employees should develop their own skills so as to become more competitive and put the company among the region's telco leaders.
