Over the past two decades, Viettel’s global expansion has penetrated into the markets considered challenging for international telecom investors.
Hoang Anh Xuan, Viettel’s former CEO, said: “Our strategy at that time was to be among the Top 10 largest telecom operators in the world. Without investing abroad, that goal could not be achieved. If Viettel stayed only in Vietnam, it would not have been able to enter the Top 10 global telecom operators.”
In Cambodia, Viettel’s first overseas venture, its Metfone brand entered a highly competitive market as the eighth licensed operator. Viettel quickly developed its network, covering most residential areas, providing telecommunications and Internet services to all rural and border regions. At present, Metfone is the largest telecom operator in Cambodia and one of the major contributors to Cambodia’s budget and social programs.
In Haiti, Viettel began operations under very special circumstances. In 2010, the Caribbean nation had just suffered a devastating earthquake which destroyed much of its infrastructure. Honoring its pre-earthquake commitment, Viettel sent engineers to Haiti and began building a telecommunications system almost from scratch.
Today, Haiti has the largest fibre-optic infrastructure in the Caribbean. Nguyen Manh Hung, Minister of Science and Technology and former Chairman and General Director of Viettel Group, said: “When expanding abroad, Viettel does not use the Viettel brand but adopts a local branding. While most companies bring their brand with them when investing overseas, Viettel does it differently. For example, in Cambodia, Viettel created a local brand.”
During its 20-year journey abroad, facing countless challenges, Viettel has sent more than 10,000 staff to develop Vietnamese telecom brands in 16 countries, including both investment markets and representative offices. General Phan Van Giang, Minister of National Defense, said: “Viettel Global Investment Corporation has made outstanding contributions to national development, with remarkable achievements. It has successfully built 10 leading telecom brands overseas, pioneered international expansion, and inspired Vietnamese businesses to go global. This has enhanced Viettel’s position and affirmed the sound leadership and direction of the Vietnamese Party, the State, the Central Military Commission and the Ministry of National Defense in combining defense and security with economic development, clearly demonstrating national aspiration, political responsibility and the strength of a military enterprise in the new era.”
Viettel currently holds the largest market share in 7 of its 10 overseas markets, including four Southeast Asian countries (Laos, Cambodia, Myanmar, and Timor-Leste) and four African countries (Mozambique, Cameroon, Tanzania, and Burundi) and two in the Americas – Haiti and Peru.
Nguyen Thanh Nhuong, former General Director of Viettel Cambodia in the 2015–2019 term, said: “Competitors always pursue low-price strategies. Viettel does not follow that approach but adheres to its philosophy of treating each customer as an individual. In highly competitive markets, Viettel applies flexible pricing policies.”
International business generates annual revenue of over 3 billion USD, maintaining an average growth rate of around 20% for many consecutive years. Overseas markets have remitted from 350 to 400 million USD to Vietnam annually in recent years.
At a working session with Viettel Cambodia in July 2024, Party General Secretary To Lam said: “Few companies investing abroad have brought such multiple benefits to the country as Viettel, which has generated economic gains as well as political, diplomatic and defense advantages. This has enhanced Vietnam’s image and position, beyond purely economic and business aspects.”
As Viettel transitions from an “overseas investment” model to a global business strategy, “Go Global 2.0”, it is fully leveraging its capabilities as a high-tech industrial and technology group in the global market. In addition to continuing to strengthen its telecommunications sector, Viettel is expanding into new areas such as digital technology, dual-use high-tech industries, e-commerce and logistics, with a target of achieving at least 20% annual growth.
