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PM wants Viettel to enter world top 10 telecom firms by 2025

Prime Minister Nguyen Xuan Phuc has said he wants the Viettel Military Industry and Telecoms Group (Viettel)  to strive to become one of the world’s 10 biggest telecoms firms by 2025.

Speaking at a ceremony marking Viettel’s 30th founding anniversary in Hanoi on June 1, the Government leader said the State believes and entrusts Viettel with the task of leading the country in the 4th Industrial Revolution (4IR).

Established in 1989 under the name of Sigelco, the group has become one of the 30 largest telecommunications companies in the world, and among the 500 most valuable brands in the globe after just 30 years.

PM Phuc said he hoped that by 2045, Viettel would be among the world's leading industrial high-tech manufacturers.

The PM emphasized that technology will be a key factor for Vietnam to avoid the middle-income trap and become a developed country, adding that innovation and invention is the inevitable path to become a powerful country.

He required Viettel to well perform its responsibilities as a main player in the national digital transformation, and quickly deploy 5G technology and infrastructure to meet development opportunities in the 4IR.

The group is also tasked with developing high-tech defence industry and manufacturing electronic and telecommunications equipment, especially network infrastructure equipment.

On the occasion, PM Phuc presented the Independence Order, first class, to Viettel.

Over the last three decades, from its initial main business of construction and installation of telecommunications projects, Viettel has developed five new industries, including telecoms and information technology services, telecom electronics, defence industry, network security and  digital services.

It is considered as one of the largest and most efficient state-owned enterprises in Vietnam.

Since 2000, Viettel has earned more than 1.78 quadrillion VND in revenue; and 334 trillion VND in profit. It has spent 3.5 trillion VND for social welfare activities.