Viettel establishes high-tech ‘Make in Vietnam’ firm

By Thanh Duong   May 27, 2019 | 11:51 am GMT+7
Viettel establishes high-tech ‘Make in Vietnam’ firm
Minister Nguyen Manh Hung (L) and other government leaders visit an exhibition corner of Viettel. Photo courtesy of Viettel.

Vietnam’s top telecom firm Viettel has set up a high-tech subsidiary to carry out the government’s mandate to make products locally.

The Viettel High Technology Industries Corporation (VHT) will focus on defense and electronics for the telecom industry.

"VHT will be an important factor in the modernization of Vietnam’s military and the construction of technology infrastructure," Major General Le Dang Dung, acting chairman and CEO of the military-owned Viettel, said.

The company will sell its technology products and services in both the local and international markets under the government’s "Make in Vietnam" campaign which encourages local tech firms to manufacture their own products.

Minister of Information and Communications Nguyen Manh Hung, a former chairman of Viettel, had said he wanted to make Vietnam one of the top 30 countries globally in the information and communication technology (ICT) sector.

Viettel is among the leading Vietnamese firms in technology. It has 111 patents and manufactures 78 technology products. Its revenues from technology last year topped $1 billion.

It aims to become a global top 10 telecom company by 2030.

Vietnam’s IT industry earned estimated revenues of $98.9 billion last year, with the main earners being hardware - electronics ($88 billion), software ($4.3 billion), IT services ($5.7 billion), and digital content ($800 million), according to the Ministry of Information and Communications.

The industry provides more than a million jobs.

 
 
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