Viettel shrugs off Covid, remains profitable

By Anh Tu July 30, 2021 | 08:47 pm PT

Two workers put up Viettel sign outside an office. Photo courtesy of Viettel.

Telecom giant Viettel reported pre-tax profits of VND 19.9 trillion ($867.2 million) for the first half of 2021, a year-on-year increase of 3.1 percent.

The growth came despite the ongoing Covid-19 outbreak, which has forced 95 percent of its HCMC-based points of sale and 80 percent in Hanoi to suspend operations, and the number of mobile subscribers and telecom use declined.

The military-owned firm continued to work on digital transformation and sought to maximize online channels, and as a result achieved revenues of VND128.6 trillion in the first half, a 6.8 percent rise.

In all its foreign markets, Viettel increased market share, with the biggest increases seen in Haiti and Peru with 1.5 and 1.4 percentage points.

Its four leading foreign markets remain Cambodia, Laos, East Timor, and Burundi, while in Myanmar, it closes to the top with a 30.8 percent share.

Viettel has used technology for combating the Covid-19 pandemic by launching a vaccination management platform and installing 7,500 cameras in quarantine facilities.