Viettel - Turning telecommunications from luxury to necessity
In the 1990s and early 2000s, Vietnam's telecommunications market, especially mobile services, was highly regarded for its modern digital technology strategies, but still considered expensive compared to global standards.
At the time, mobile phones were rare, with prices around 1,000 USD, connection fees of 200 USD per subscriber, and monthly fees of about 30 USD. Local calls in Ho Chi Minh City or Hanoi cost 0.3 USD per minute.
However, since Viettel entered Vietnam's telecom market in 2000, the situation has changed. It started with the VOiP 178 service, where domestic and international long-distance calls cost only 55-60% of traditional phone rates.
Viettel launched mobile services in 2004 and saw explosive growth, with year-over-year growth surpassing the total of all previous years combined.
Vietnam became known as the country with the fastest mobile growth in the world. Viettel drove the mobile penetration rate, from under 5% in 2004 to over 100% in a remarkably short period, turning mobile services from a luxury into a common necessity.
After revolutionizing telecommunications in Vietnam, Viettel expanded internationally in 2006 and created a new wave of change. Currently, Viettel operates in 10 countries, with a market size of 270 million people and nearly 100 million customers. It holds the number one market share in six countries.
Viettel’s success in various markets has revolutionized telecommunications access and spurred economic and social development in these countries.
Additionally, Viettel has pioneered 4G and 5G device production. In 2019, Viettel successfully tested its 5G network, placing Vietnam in the top five countries that successfully tested 5G.
With its successful 5G terminal equipment production, Viettel is now one of the top six telecom companies globally that provide 5G equipment, alongside Ericsson, Samsung, and Huawei.
Viettel is the only company in the world that operates telecom networks while also researching and manufacturing its own devices.
Viettel’s CEO, Mr. Tao Duc Thang, emphasized that the company is ready to collaborate with other Vietnamese companies to ignite cloud computing services, fulfilling the goal of providing safe, flexible, and efficient cloud-based data storage for every individual, household, organization, and business.
VNPT - From the "digital revolution" to leading digital transformation
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VNPT was once considered one of the poorest and most outdated industries in Vietnam, especially after the separation of government management and business operations in 1975.
However, through bold visionary leadership and actions, VNPT has transformed into a modern industry of international standards and a critical technical sector in the country’s economy.
In December 2003, VNPT’s telephone network reached 7 million subscribers, achieving a phone density of 8 phones per 100 people, two years ahead of the goal set by the IX Party Congress in 2005.
In April 2008, VNPT successfully launched Vietnam's first telecommunications satellite, VINASAT-1, significantly contributing to the nation’s infrastructure, enhancing network capacity, and improving telecom and IT service quality.
Since 2014, VNPT has transitioned from a traditional telecom network operator to a leading digital services provider, with the goal of becoming the leading digital services provider in Vietnam and the digital transaction center of Asia.
VNPT’s 5G technology development aims to unify ICT and telecommunications infrastructure into one platform.
As one of the country's largest telecom and IT corporations, VNPT has worked closely with the government to implement solutions and digital platforms for e-government, smart cities, and digital transformation.
VNPT’s CEO, Mr. Huynh Quang Liem, emphasized that the company has successfully contributed to national projects, including the "National Population Database," benefiting 11,000 communes and over 100 million people.
MobiFone - Vietnam’s first mobile network
From 1991 to 1993, Europe deployed the GSM digital mobile technology, though it was still in its early stages. Vietnam’s Postal Service, now MobiFone, chose GSM technology for its mobile network.
On April 16, 1993, MobiFone became Vietnam's first mobile network. From the outset, it partnered with the global telecom leader Comvik/Kinnevik from Sweden, benefiting from their experience and investment in infrastructure, business strategy, and corporate culture.
MobiFone’s partnership with Comvik was considered one of the most effective business collaborations in Vietnam’s history. MobiFone became the first mobile operator to serve the public commercially and is now a key player in Vietnam’s telecom sector.
By 1994, MobiFone achieved significant revenue and contributed to the state budget. Over the years, MobiFone has remained one of the most profitable state-owned telecom companies in Vietnam, maintaining an average return on equity of over 35% per year during peak periods.
Recently, MobiFone has shifted its focus to become a leading digital technology company, driving the country's digital transformation and economic growth.
FPT - From scratch to global corporation
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FPT became Vietnam’s leading IT company in 1998, focusing on developing IT infrastructure for key economic sectors. Instead of resting on its success, FPT sought to expand into software exports.
The company ventured into foreign markets, starting in India and Silicon Valley, and achieved success in Japan in 2005. Later, FPT opened offices in Singapore, Europe, and the US.
In 2023, FPT reached 1 billion USD in IT service revenue from foreign markets, joining the ranks of global IT service companies. FPT also focuses on cutting-edge technologies like AI, automotive, and green transformation, continuing to advance Vietnam’s position in the global tech scene.
CMC - From a computer company to a global tech giant
Founded in 1993 by Ha The Minh and Nguyen Trung Chinh, CMC has long focused on ICT as its core competence. Initially known for producing Vietnam's first branded computers, CMC expanded into other areas such as systems integration and software services.
CMC Global was launched in 2017 to export software and tech services globally. The company is now focusing on AI technology and aims to become a billion-dollar company by 2028.
VNG - From a small gaming company to a "tech unicorn"
Founded in 2004 as a small gaming company, VNG grew into Vietnam’s first "tech unicorn" by 2014. The company now operates across multiple sectors, including online gaming, finance, cloud services, and e-commerce, with flagship products like Zalo, which has 75 million active users.
VNG’s mission to develop the Internet for Vietnamese people’s benefit continues to drive its innovations and global ambitions.
Trong Dat - Van Anh