Viettel’s int’l projects remain profitable despite exchange rate fluctuations

VietNamNet Bridge- Viettel Group’s total overseas investment increased by 9 percent to nearly US$1.5 billion in 2015, while the global industry rate was only 2.3 percent (a fourth of Viettel’s), according to UK-based OVUM- a prestigious research and consulting firm specializing in global coverage of information technology and telecommunications industries. Viettel achieved impressive annual growth compared with many other multinational telecom firms. For example, Viettel’s familiar rival in many markets, Vodacom – an African mobile service provider that is bigger and more experienced than Viettel – saw turnover growth of only 2.1 percent in 2015. Vodacom’s subscriber numbers grew 7.2 percent, one fourth of that of Viettel’s 27 percent. Last year Viettel launched mobile networks in the three big African markets of Cameroon, Burundi and Tanzania, which have a combined population of 80 million, three times than Mozambique, Viettel’s only other market in Africa. The expansion has increased Viettel’s international market to 10 nations with a combined population of 270 million people, three times more than Vietnam’s population. With a population of over 50 million, Tanzania is Viettel’s biggest overseas market. Having 1 million subscribers in just 3 months, it is the fastest growing affiliate of Viettel as well as of the global telecom industry. In March 2016, Lumitel (Viettel’s brand name in Burundi) has become the leading operator in this country with 1.6 million subscribers thanks to the miracle growth of 1 million subscribers after only 5 months. In Cameroon, Viettel also got success by reaching 2 million subscribers…