Viettel launches Digital Services Corporation

The establishment of the VDS aims to create a foundation for Viettel’s digital transformation process and development strategies in a new period of digital society creation.

With the goal of “originating digital life”, the VDS is defined as a technology company focusing on the digital financial sector, the data service sector, and credit, insurance and advertising and e-commerce.

The corporation targets to have 26 million customers and 600,000 payment acceptance and services points by 2025.

Viettel plans to expand its services to all areas nationwide in all fields through mobile phones. Mobile Money, which allows users to transfer and receive money as well as make payments through mobile accounts without a bank account, would remove the technology gap and offer digitisation to people in rural and remote areas who had limited access to traditional financial services. This was expected to be a catalyst for the boom of the digital revolution in Vietnam.

In addition, digital financial and commerce infrastructure would help connect businesses to businesses and businesses to people.

The corporation was aiming to accompany firms and the start-up community to build a non-cash society and become an important part in the national payment and financial infrastructure.

Speaking at the launching ceremony, Le Dang Dung, acting Chairman cum General Director of Viettel, said the establishment of the VDS affirmed Viettel’s strong steps in digital transformation and determination to switch from a traditional telecom to a digital service provider. It also realised the group's vision of bringing telecommunications, IT and digital applications into all aspects of the life.

“The VDS will play a key role in Viettel's digital transformation strategy as well as the construction of Vietnam’s digital economy," Dung said.

He added that the wave of technology was an opportunity for booming business development. However, it could submerge anyone who was not ready or unwilling. Opportunities and challenges for businesses were also opportunities and challenges for the country. Comprehensive digital transformation was an opportunity for Vietnam to close the gap with advanced economies, he added.

Viettel has built a wide telecoms network with coverage of nearly all the country’s population, and has applied advanced technologies for the implementation of the internet of things, cloud, big data and artificial intelligence.