Viettel Global posts record cash flow remittance in Q3

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MyTel has been one of Viettel's overseas markets with the best business results. — Photo courtesy of Viettel

The cash flow remittance of Viettel Global – a member corporation of Viettel Group, to Viet Nam in the third quarter of the year reached a record level of US$86.5 million, up 56 per cent from the same period last year.

In 2020, Viettel’s overseas markets have faced many struggles amid the global economic slowdown due to the COVID-19 pandemic. However, in the first nine months of the year, all 10 overseas markets of Viettel have completed their revenue growth plans. Viettel Global’s service revenue reached 104 per cent of the plan, an 18.4 per cent year-on-year increase.

Digital transformation remained Viettel Global’s key strategy throughout the third quarter of 2020. Data subscription grew by 5.4 per cent year-on-year in the period. In which, seven out of its 10 markets maintain data consumption growth of more than 20 per cent, with the Mozambique market growing nearly 70 per cent.

“Viettel’s overseas markets have achieved good results thanks to their quick adaptation to market fluctuations due to the pandemic. The flourishing business results at all markets have made a significant contribution to the overall performance of Viettel Group this year,” said Viettel Group’s Deputy General Director Tao Duc Thang.

“Viettel has accelerated the application of digital transformation into overseas business such as online multi-channel sales and care. As a result, the companies have significantly reduced the impact of market volatility coming from anti-pandemic measures adopted by governments.”

Viettel Global hopes to have more 5 million subscribers worldwide in the last quarter of the year. It aims to enhance sale methods suitable for the pandemic situation at its overseas markets. In addition, it will continue to implement digital products and services, especially those relating to e-wallets. — VNS

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