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Vietnam: Domestic Telecom Providers See Big Revenues in 2016
Source: vietnamnews.vn
Source Date: Saturday, December 24, 2016
Focus: Institution and HR Management
Country: Viet Nam
Created: Dec 26, 2016

Representatives from four of Việt Nam’s largest telecommunication companies reported very large revenues in 2016, with significant improvements over 2015, at a conference held by the Ministry of Information and Communications (MIC) in Hà Nội yesterday.

The Vietnam Posts and Telecommunications Group (VNPT) announced a sharp rise in both revenues and profits in 2016, compared to the same period in 2015, said Phạm Đức Long, VNPT’s Chief Executive Officer at the conference.

The company recorded revenues of VNĐ135 trillion (US$6.09 billion), up by VNĐ46.1 trillion ($2.08 billion) or 7 per cent from 2015, whereas income rose by 20 per cent to VNĐ4.16 trillion ($187.7 million), VNĐ882 billion ($39.8 million) higher than in 2015.

This has been the third year in a row for VNPT to increase revenues by more than 20 per cent, compared to the previous year, thus tripling the company’s average productivity, with a total of 38.6 million subscriptions at the end of 2016, up by 6.5 million subscriptions from 2015.

VNPT had experienced new growth in 2016, after its reengineering process was completed, focusing on customer service and network management, to receive a higher flow of income. 

However, Long said the 7 per cent increase in revenue in 2016 for VNPT had not been high, due to a strong shift in the development of traditional services, as mobile and broadband internet experienced growth, while landline services declined sharply.

Similarly, the Vietnam Military Telecommunications Group (Viettel) saw an increase in revenue of VNĐ256 trillion ($11.5 billion) in 2016, with a rise of 7.4 million subscriptions, in total, said Hoàng Sơn, Viettel’s Deputy General Director.

As a newly separated division of VNPT, Vietnam Mobile Telecom Services (MobiFone) also reported revenues of VND38.4 trillion ($1.7 billion), up 14.5 per cent from 2015 with 19 million subscriptions, said Lê Nam Trà, Chairman of MobiFone.

Vietnam Television Corporation (VTC) surpassed their goal for 2016, with total revenues reaching VNĐ5.2 trillion ($234.7 million), up 39 per cent compared to 2015, said Lưu Vũ Hải, VTC’s Chairman of Member Council.

The four companies attributed their increases in revenues for 2016 to the MIC’s reengineering plan, and expressed optimism for 2017. 

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