Viettel group establishes seventh subsidiary

The Viettel Military Industry and Telecoms Group (Viettel) on May 24 established Viettel High Technology Industries Corporation (VHT), its seventh subsidiary.

Le Dang Dung, acting Chairman cum General Director of theViettel Military Industry and Telecoms Group, at the launching ceremony of the Viettel High Technology Industries Corporation.

It focuses on the two core areas of national defence and electronics and telecommunications.

The move affirmed Viettel’s development into a hi-tech industrial group with three key sectors including the defence industry, the telecommunications industry and network security. It should help the group become leader in the "Make in Vietnam" movement and in bringing technology products to the international market.

Le Dang Dung, acting Chairman cum General Director of Viettel, said it targeted being in the top 10 biggest telecommunications and information businesses in the world by 2030.

Only by mastering core technology can a country become a developed and advanced country, he said, adding that VHT has been an important factor in contributing to the military modernisation process, gradually building modern infrastructure and strong resources for national defence and industrial development to pull Vietnam out of the middle income trap and became a developed country.

Viettel will develop product lines based on pioneering technology platforms such as artificial intelligence (AI), Big Data and 5G.

In the hi-tech area, Viettel has successfully studied and manufactured 78 products and 111 patents. Its total revenue from hi-tech products last year reached 10.5 billion USD.