The investment plan was submitted and approved in late April at a shareholders' meeting of Viettel Global, the overseas investment arm of Viettel, as the group said it expected to tap huge potentials in the two markets with 445 million people and underdeveloped telecommunications networks.
Indonesia, the biggest Southeast Asian economy, is home to 70% of the region’s population but only 58% of its residents are 3G or 4G subscribers. In Nigeria, Africa's most populated country, 3G subscriptions are also far from booming.
The new markets are part of Viettel Global’s plan to increase its overseas subscribers by 35% to 50 million this year.
Besides Vietnam, Viettel is operating mobile networks in 10 countries in Southeast Asia, South America and Africa.
Its brand value has been estimated at US$973 million by UK-based Brand Finance, an intangible asset valuation consultancy organization.
Viettel is ranked seventh in Southeast Asia and 93rd globally.