Viettel reports strong growth, contributes VNĐ44.3 trillion to State budget
Viettel reports strong growth, contributes VNĐ44.3 trillion to State budget
Viettel also contributed VNĐ44.3 trillion to the State budget, a 17 per cent rise from the previous year, while employees saw a 6 per cent boost in average income.
Viettel announced the commercialisation of the 5G Open RAN broadcasting station "Make in Việt Nam, Made by Viettel", marking Viettel's pioneering role in the revolution of promoting 5G technology. Photo courtesy of Viettel |
Viettel on Friday reported impressive results for 2024, with consolidated revenue of VNĐ190 trillion (US$7.5 billion), achieving growth of 10.3 per cent -- the highest in the industry.
Its pre-tax profit reached VNĐ51 trillion, marking an 11.3 per cent year-on-year increase. Viettel also contributed VNĐ44.3 trillion to the State budget, a 17 per cent rise from the previous year, while employees saw a 6 per cent boost in average income.
The company’s growth was driven by a strong domestic telecommunications market, international expansion and innovations in high-tech sectors like cybersecurity, AI and logistics.
Viettel successfully upgraded 6.5 million 2G subscribers to 4G in just 10 months, a feat that typically takes other networks three years. The company also expanded 4G coverage with over 6,000 new base transceiver stations (BTS), ensuring nationwide connectivity.
For the eighth consecutive year, Viettel’s international revenue grew by double digits, up 17.3 per cent from the previous year and contributing 80 per cent of the group’s total growth. This was despite challenges like political instability and inflation. The company’s overseas market share remained strong, with Movitel leading in Mozambique and Viettel maintaining the leading position in seven foreign markets. Viettel also repatriated $467 million in cash flow and launched 5G services in Peru and Laos.
In addition to its core telecom business, Viettel has made significant strides in new sectors. It now offers e-wallet services with nearly 33 million subscribers, operates delivery services in Southeast Asia and provides network security across 11 countries.
Viettel continues to lead in building Việt Nam’s digital infrastructure. It operates the country’s largest data centre with 230,000 servers and has the most extensive 5G network, covering 95 per cent of provincial capitals. Viettel is set to expand with 12,000 new 5G stations in 2025. It also operates the ADC undersea cable, connecting Việt Nam to China, Japan and other parts of Southeast Asia, and plans to launch another undersea line to Singapore.
In logistics, Viettel has automated systems in place and opened Việt Nam's first logistics park in the northern province of Lạng Sơn. The company is further developing a national logistics network, focusing on smart border gates, agricultural hubs and multimodal transport systems.
Viettel’s information technology solutions grew 38 per cent in 2024, making up 40 per cent of total revenue. The company holds a dominant position in the public sector and continues to play a key role in national digital transformation projects. Viettel also made headlines by winning the prestigious Pwn2Own cybersecurity competition twice in a row, solidifying its leadership in the field.
Viettel’s achievements in 2024 underscore its ongoing commitment to innovation, growth and national development.
