Prime Minister Nguyen Tan Dung recently agreed to raise the charter capital of the military-run Viettel Group from VND100 trillion (US$4.4 billion) to VND300 trillion (US$13.2 billion) in the 2015-2020 period.

The government leader assigned Viettel to make an investment in supplementation to the charter capital in line with the Law on Management and Use of State Capital in Production and Business and legal documents guiding this law.

Unless the charter capital is not fully supplemented by the end of 2020, the Defence Ministry will work with the Finance Ministry and other relevant agencies to recommend handling measures and submit them to the PM.

Viettel has become Vietnam’s leading enterprise in the field of information technology and telecommunications, with a rapid yet sustainable rate of growth for many years in a row. The group earned VND193.134 trillion (US$8.5 billion) in total revenues last year, a 3.2-fold increase against 2009, and VND42.219 trillion (US$1.85 billion) in profit, 4.1 times higher than the 2009 figure, ensuring stable jobs for over 27,000 employees with an average monthly salary of VND25 million per capita.

At the end of 2014, Viettel’s total assets were VND140.876 trillion (US$6.2 billion), with the owner’s equity at VND101.813 trillion (US$4.47 billion).

In the 2015-2020 period, Viettel is looking towards becoming a global telecom and information technology corporation with an enhanced international competitive capacity.

Viettel’s total revenues are estimated to reach VND548.784 trillion in 2020, a 2.8-fold increase over 2014, while its total pretax profit is estimated at VND415.979 trillion from 2015 to 2020, a 2.9-fold rise against the 2010-2014 period.

Nhan Dan