Earlier this year, the group also introduced semiconductor chips and exported 5G network equipment at the Mobile World Congress 2025, the world’s largest mobile industry event. These milestones demonstrate Viettel’s strong presence in both technology and defense.
Vietnam Report recently announced the PROFIT500 ranking of the 500 most profitable enterprises in Vietnam in 2025. Viettel’s profits have steadily increased since 2021, reaching a record high in 2024. With their outstanding performance, PetroVietnam, Vingroup, and Viettel contributed VND 77.4 trillion, VND 56.2 trillion, and VND 46.3 trillion, respectively, to the state budget in 2024. These three corporations were also the top contributors nationwide.
    |
 |
|
Viettel’s S-125-VT surface-to-air missile at the celebration of the National Day on September 2, 2025 |
What makes Viettel stand out is not only its absolute contribution but also its tax structure. While oil and gas or real estate companies contribute significantly through sector-specific taxes such as resource or land use taxes, Viettel’s budget contribution largely comes from business efficiency. Of the VND 46.3 trillion contributed by Viettel, VND 38 trillion came from corporate income tax and profits. This proportion is higher than any other enterprise contributing over VND 10 trillion, underlining the value of technology-based growth compared to industries dependent on natural resources.
Among the top 10 state budget contributors, Viettel is also the only technology company, which demonstrates both its successful business strategy and the economic potential of technology development.
According to Dr. Nguyen Van Phung, former Director of the Large Business Tax Department at the General Department of Taxation, sustainable state revenue must be built on enterprise growth and production. He emphasized that Viettel, as a state-owned enterprise, enjoys a high level of trust and fully deserves the recognition of "coming from the people, and serving the people.”
Viettel’s strength also lies in its unique investment mechanism for research and development. Approved by the Politburo in 2023, Viettel is permitted to reinvest up to 30% of its post-tax profits in R&D, focusing particularly on core technologies and defense. This is a rare privilege in the state-owned sector, reflecting the Party and State’s strategic confidence in Viettel as a key driver of high-tech and defense industry development.
From this stable funding, Viettel has mastered numerous core technologies across telecommunications, digital industries, defense, and semiconductors. Its R&D achievements have gone beyond laboratory prototypes, becoming real products that serve both the market and national strategy. The showcasing of advanced weapons such as the S-125-VT and Truong Son missiles, alongside its successful semiconductor and 5G equipment projects, are strong proof of this progress.
Looking ahead, Viettel has set ambitious targets for the next five years, aiming for annual growth of 12–14% and export growth of 25–30% in high-tech and digital products. Meeting these goals would allow even greater reinvestment in R&D, particularly in technologies defined as national priorities under Resolution 57. The group has already outlined plans to master 9 out of 11 groups of national strategic technologies, including semiconductors, especially specialized chips, 5G-Advanced, 6G, missiles, satellites, and aerospace equipment such as aircraft and UAVs. These technologies are set to be developed within the coming five years.
With strong revenues, high profitability, transparent R&D reinvestment, and proven technological products, Viettel has established itself as a true backbone of the national economy and defense. Its role extends beyond economic contributions, highlighting its importance in ensuring security and advancing Vietnam’s technological independence.
Translated by Tran Hoai