Offshore investments bring profit to local ICT firms

03-06-2015 | Vietnam Telecom

A source from FPT Group said this group's revenue was estimated at VND35.11 trillion last year, up 23% against the previous year and 10% higher than targeted. But its profit fell by 2% to around VND2.46 trillion.

FPT is stepping up foreign investment activity to cash in on rising demand in the global IT market whose annual spending is put at over US$1 trillion.

FPT chairman Truong Gia Binh told the Daily that overseas markets bring in plenty opportunities for FPT and that its main markets include the United States, Japan, Singapore and Myanmar.

Viettel Group said 2014 was a successful year for its offshore investments. Last year, these investments contributed significantly to the group’s revenue which grew 20% to VND197 trillion and its pre-tax profit which rose 15% to VND42 trillion.

Last year, Viettel’s offshore operations brought total revenue of US$1.2 billion, up 25%, and pre-tax profit of US$156 million, up 32%. The profit Viettel has earned from its overseas investments so far totals US$278 million.

Customers test Bitel mobile service in Peru. Viettel launches this mobile network in Peru last year.

With the launch of mobile services in Peru and Cameroon last year, Viettel has been present in nine foreign markets with a combined population of 175 million people.

In addition to Viettel, VNPT and MobiFone also plan to expand investments in foreign markets. For instance, MobiFone has explored a number of markets including Myanmar while VNPT is seeking opportunities to provide telecom and information technology services in Myanmar, Cambodia, Laos and Cuba.

VNPT also plans to set up a subsidiary in Hong Kong, said VNPT general director Tran Manh Hung.

VietnamTalk (Editted by Viettel International)