Company representatives said Viettel would invest hundreds of millions of US dollars abroad.

Viettel is now one of the leading mobile phone providers in Cambodia and Laos in terms of network infrastructure and subscriber numbers. The group has invested heavily in cable networks and broadband services.

According to its report to the Ministry of Information and Communications, its turnover last year reached VND60 trillion (US$3.3 billion), an increase of 80 percent in 2008. The company is holding 42 percent of Vietnam’s telecom market share. The group also ranks fourth in the country in terms of income.

Last year, its pre-tax profit was VND10 trillion (US$555 million), contributing VND7 trillion (US$388 million) to the State budget. Its foreign investment has doubled in terms of network and turnover.