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.
Viettel Group was named as the most valuable telecoms brand in Southeast Asia and the 17th in the world
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.
Viettel’s brand value reached US$8.9 billion in 2023 – up US$144 million to 2022
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.
