Viettel Global, a unit tasked with offshore investment projects of the Military Industry and Telecoms Group Viettel, has just announced its consolidated financial statement for 2017, raking in more than VND 19 trillion in revenue, an increase of 24 percent. Three years ago, Viettel's turnover stood at around VND 14-15 trillion.

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Bitel - a Viettel mobile network in Peru

Particularly noteworthy, the pre-tax profit of the Viettel Global reached VND 27 billion (USD 1.18 million). This is an impressive figure in the context that Viettel Global had to expand its investment in 4G networks in many international markets, and especially its preparations for the launch of the mobile network in Myanmar.

Viettel Global's turnover in 2017 reached more than VND 1.3 trillion, up 33 percent from the previous year, nearly 8 times higher than the average turnover growth rate of the telecommunications industry in the world.

The important driving force for the growth comes from African markets with Viettel Cameroon up by 102.5 percent and Viettel Movitel up by 79.03 percent.

Viettel Global's gross profit reached nearly VND 4.4 trillion from VND 2 trillion, up by 82 percent. Thanks to a positive exchange rate, financial revenue has soared from VND 482 billion to nearly VND 3 trillion while financial costs also reduced by VND 150 billion.

In 2017, the exchange rates of the markets were more stable than in 2016, especially in Mozambique and Cameroon.

Translated by Lam Anh