Viettel Named Most Valuable Telecoms Brand in Southeast Asia
Feb 03, 2023, 04:13 ET
- Viettel's brand value reached US$8.9 billion in 2023 – up US$144 million to 2022.
- The most valuable telecoms brand in Southeast Asia, jumped 1 place in Asia and global telecommunications rankings.
- 8 consecutive years of increasing brand value on the Brand Finance Global 500
HANOI, Vietnam, Feb. 3, 2023 /PRNewswire/ -- Viettel Group was named as the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. Viettel Group, with a brand value of US$8.9 billion, ranked the 234th position globally, and is the only brand of Vietnam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Viettel remains a series of 8 consecutive years of increasing brand value even in the context of the 2022 recession.
All-out efforts bring spectacular growth in 2022
In 2022, amid continued turbulence in the global economic environment and the far-reaching effects of the COVID-19 pandemic, Vietnam still recorded high growth, and become a bright spot in the world economy.
Vietnam's economy grew 8.02% in 2022, the highest rate recorded in the 2011-2022 period. The increase is three-times the growth in 2021 and exceeded the target of 6-6.5% set by the Government. Several Vietnamese firms rose as silver lightning of Vietnam's economy with billions of dollars in profits.
Amid the uncertainties, Viettel pressed ahead with quality-oriented solutions in all fields such as telecoms, foreign investment, IT and digital services, Hi-tech R&D. Viettel earned pre-tax profits of VND43.1 trillion (US$1.8 billion) in 2022, the highest growth recorded since 2017. The profits rose 3% from 2021. The group's consolidated revenues increased by 6.1% to VND163 trillion (US$6.9 billion).
Viettel said telecommunications continued to be its main source of revenue, as the company remained the largest mobile telecommunications service provider in Vietnam, with a market share of 54%.
Last year, Viettel's foreign investment for the first time reached nearly US$3 billion. Meanwhile, it remitted home nearly US$500 million, the highest amount in the last five years. By the end of last year, it had repatriated nearly 70% of its total investment abroad.
The digital solutions and services provided by Viettel also had a breakthrough when revenues from information technology solutions surged by 58%.
About Viettel Group
Viettel Group is an international enterprise headquartered in Hanoi, Vietnam. The group has investments in 11 countries in Africa, Asia and Latin-America. Viettel has five business lines including telecommunications and information technology (IT); research and manufacture of electronic and telecommunications equipment; defense industry; cyber security and digital services. Viettel Telecom, a member of Viettel Group, is the largest telecommunications service provider in Vietnam.
SOURCE Viettel Group
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