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Image : Moody's warns of UK downgrade if Brexit deal weakens growth

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person Orange Themes access_time Nov 02,2016

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Image : Japan in talks to deliver two coast guard ships to Philippines

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person Orange Themes access_time Aug 14,2016

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Image : Comey faces complicated path under Trump administration

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Vietnam's ICT firms breaking into foreign markets

access_time Mar 31,2017 chat_bubble_outline 34 views

Following Viettel’s and FPT’s success, several information and communications technology (ICT) enterprises have started “cultivating” foreign markets.

Vietnam's ICT firms breaking into foreign markets

An office building of the VN Posts and Telecommunications Group (VNPT)

VNPT starts exporting

Vietnam Posts and Telecommunications Group (VNPT) has been the most active player in foreign expansion. VNPT has introduced its products and services to 30 countries, such as Qatar, Malaysia, Iran, Eastern Europe, and India, and exports to six countries, making approximately $4 million in revenue.

“Last year, VNPT received the certificate to invest abroad. We are building a joint venture to develop a telecommunications network in Myanmar. 

In 2017, VNPT will continue expanding its investments in its Asian and European markets by providing telecommunication services, technological and industrial products, IT services, and e-government, among others,” said VNPT general manager Pham Duc Long.

According to VNPT chairman Tran Manh Hung, the company has set the goal to provide its products to partners in at least 10 countries and reach millions of USD in revenue within 5 years.

VNG, Mobile World go abroad

While VNPT focuses on exporting ICT hardware, ICT giant VNG delivers its services and apps to foreign markets. On March 2016, VNG decided to introduce its social network Zalo to Myanmar. 

From June to October 2016, Zalo gained 2 million users in Myanmar.

“If developed well, Myanmar would become as lucrative a market as Vietnam. Zalo’s long-term goal is to have 9-10 million users,” said VNG deputy director Vuong Quang Khai.

VNG aims to become an internationally competitive ICT enterprise. In 2012, VNG successfully developed and exported its games “Khu vuon tren may” and “Un in” to China and Japan.

Mobile World Investment Corporation made its appearance in Cambodia under the name BigPhone in the beginning of March. 

Mobile World Investment Corporation has a distribution system of 1,300 The gioi Di dong stores in Vietnam and a revenue of US$2 billion per year.

CEO Nguyen Duc Tai shared that their target is to open 10-15 stores in Cambodia in 2017. According to Tai, Cambodia is just the first step on the company’s path to penetrate other markets in Southeast Asia. 

Laos and Myanmar are the two next destinations in the company’s expansion plan.


VN banks aim for high profit in 2017

Starting the annual general meeting (AGM) season, several banks have revealed ambitious plans for 2017. Aiming for big increase in profitAt the AGM on March 25, LienVietPostBank’s shareholders agreed on this year’s development plan, aiming to reach US$66.2 million in pre-tax profit, 10 per cent higher than that of 2016 (US$59.5 million). Furthermore, the expected dividend rate was raised to 12%. LienVietPostBank also planned to raise capital from US$285.1 million to US$309.0 million by issuing… chat_bubble_outline Read More...

Trump embarks on Midwest jobs, election victory lap

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U.S. adds extra aircraft to Marine force in Australia

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Owner Stan Kroenke on Los Angeles Rams: 'We're competitive'

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Clinton, Trump fight to wire as bitter US race ends

Hillary Clinton and Donald Trump on Monday gave U.S. voters a stark choice as their brutal White House battle neared its end -- between her vision of unity and his promise to take back power from Washington's corrupt elites. On the final day of a presidential campaign that has left a bemused world looking on in concern for its greatest power, Trump doubled down on his unabashed appeal to popular resentment. The Democrat Clinton has had sharp words for her rival, a 70-year-old property tycoon… chat_bubble_outline Read More...

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