Viettel has been ranked in the top 10 mobile operators with the most new subscribers in the first quarter this year, according to a report by GSMA Wireless Intelligence.
Viettel surpassed Singapore’s SingTel and Axiata of Malaysia and ranked only after network operators in India and China.
As a leading provider of telecommunications services in Vietnam, Viettel has invested both domestically and internationally in countries such as Cambodia, Laos, Haiti, Peru and Mozambique with a revenue of nearly US$6 billion last year.
SBV slashes ceiling interest rates by 1 percent
The ceiling interest rate for deposits in VND with terms of one month up will be cut from 12 to 11 percent per year from May 28, under a State Bank of Vietnam’s May 25 decision.
The ceiling lending interest rate will be correlatively slashed from 15 to 14 percent per year on the same day, applied to four prioritised sectors including export, agriculture, rural areas and small- and medium-sized enterprises.
Interest rates used as management tools to be adjusted down include the refinancing rate from 13 to 12 percent, the discount rate from 11 to 10 percent, and the inter-bank electronic payment rate from 14 to 13 percent.
The State Bank said the interest rate reduction aims to help solve difficulties for production and business activities in accordance with the Government direction.
It said economic improvement, especially easing inflationary pressure, facilitates the move.
The consumer price index (CPI) edged up only 0.18 percent in May and increased by 2.87 percent in the first five months of this year, it said adding that improved bank liquidity and a stabilising monetary market are other factors.
The central bank noted that although interest rates have gradually declined, their slow progress together with rising credit risks still significantly challenge businesses in the face of falling purchasing power and increasing inventories.