Viettel eyes Mali investment

Viettel eyes Mali investment

Viettel eyes Mali investmentViettel Group subsidiary Viettel Global is hoping to follow up its overseas successes with a possible $273.3 million-telecommunications network project in Mali.

The group, which is aslo studying investment into in markets such as Myanmar and Bangladesh, is now looking for stakeholder advice on the Mali move.

Viettel has reaped rich rewards from its overseas activities since 2009.

After two year in business, Unitel in Laos and Metfone in Cambodia stand in number one position.

Recently, Metfone gained a prize for the best service supplier in developing market. In just two years, Metfone has lifted Cambodia’s mobile density rate from more than six times – from 15 per cent to 100 per cent. The country’s internet penetration rate has also increased eight times from 0.5 per cent to 4 per cent.

In Cambodia, Metfone now is the biggest mobile service supplier with over seven million subscribers. The company holds a 48 per cent market share.

For the three market which it entered in 2011 – Haiti, Peru and Mozambique – Viettel has not yet reported its profits and market share. But Viettel’s involvement in these markets is showing positive early signals.

In Haiti, for example, the Natcom trade name attracted 250,000 subscribers within one month and the figure doubled in the second month.

Viettel plans to invest around $400 million in its mobile network in Mozambique and Peru over the next 10 years.

According to Viettel Global’s financial report, in 2010, the company achieved profit before tax of over VND650 billion ($30.9 million). For 2011, the company expects profits of VND1,000 billion ($47 million).

Viettel was founded in 2004 and is currently the biggest telecommunications provider with a 40.37 per cent share of the total mobile communications market in Vietnam.

(Source VIR)


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