Viettel Global takes advantages of carrying out investment in foreign countries

In 2010, Viettel Global, a subsidiary under military-run Viettel Telecommunication Group (Viettel) targeted to increase the number of foreign countries for making investment from two to six, with total population of about 150 million people.

In the end of 2009, Viettel Global won the bidding package in an investment project in Haiti. In details, Viettel Global would hold 60 percent of the total shares of Haiti State Telecommunication Corp (Teleco), equal to $60 million under the joint venture form.

Nguyen Duc Quang, Viettel Global’s general director said his company expects to provide trial Internet, mobile and fixed telecommunication services in Haiti. Viettel plans to complete investment procedures to set up optical telecommunication network to make stable foundation for launching telecommunication services in all over Haiti, supporting the economic development process in this country.

Before making investment in Haiti, Viettel Global has joined projects of establishing telecommunication infrastructure facilities in Laos and Cambodia with total registered capital of about $100 million. At present, Viettel’s mobile network in Laos and Cambodia was ranked the top place in terms of network infrastructure and the second place in number of subscribers.
Last year, the company reported gaining revenue of $70 million from these two markets.

Quang added that together with investment projects in Haiti, Viettel Global expected to reach an increase of 300 percent in 2010 gained revenue. Viettel had concentrated on large telecommunication infrastructure projects in Lao and Cambodia in previous years, which played the key role in develop the company’s business activities there.

At the same time, Viettel Global also seeks for investment opportunities in other markets such as Bangladesh, Mozambique, Cuba, Myanmar The company considered those markets as high potential ones. On the basic of market researches, Viettel will make suitable investment commitments with different investment capital value, depending on the investment methods to be applied in specific markets. As for the markets of Laos and Cambodia, Viettel will continue making investment there with the purpose of becoming the leading mobile network provider there.

Viettel decided to make foreign investment project in 2005-2006, when the company’s potential strength was at one thirtieth in comparison with at present. Nguyen Manh Hung, Viettel Group’s vice general manager said Viettel has created the new ways of thinking and doing business for development in order to compete with other strong rivals in the world market.
Dautu

Tags: Vietnam invest in Laos, Vietnam investment, Viettel Global

Posted by VBN on May 13 2010. Filed under Investment, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry