It is followed by the Vietnam Post and Telecommunications Group (VNPT), MobiFone, VTC, and the Vietnam Post Corporation (VietnamPost), telecom companies said at the meeting to review their performance with MIC in early December.

A representative from Viettel said at the monthly meeting with MIC on December 6, that it earned VND19.3 trillion ($865.5 million) in revenue in November, equal to 109 per cent of its annual plan, while profit was VND3.4 billion ($152,466).

The giant, VNPT, meanwhile, experienced a high growth in revenue and profit, according to Mr. Pham Duc Long, VNPT's CEO. As of November, VNPT’s revenue was equal to 91.8 per cent of its annual plan. Profit increased by 36 per cent year-on-year and was equal to 93 per cent of the plan.

The telecom operator, Vinaphone, had 4.2 million mobile phone subscribers as of November. While fiber internet subscribers increased strongly with 1.3 million, MegaVNN subscribers decreased noticeably.

MobiFone's revenue in November, according to its CEO Mr. Cao Duy Hai, was VND3 trillion ($134.5million), representing 94.1 per cent of the annual plan. It contributed VND4.7 trillion ($188 million) to the state budget as of November. At the meeting with MIC, Mr. Hai confirmed that MobiFone will complete its plan for 2016 in terms of revenue and profit in December. While it’s new mobile phone subscribers totaled 94,000 in November.

Mr. Do Ngoc Binh, Chairman of VietnamPost said that turnover was VND11.2 trillion ($502.2 million) Revenue and profit in the first eleven months were equal to 100 per cent and 95 per cent of the annual plan, respectively. It aims to complete its profit plan for 2016 in December.

VTC's revenue in the first ten months was equal to 100 per cent of the annual plan, according to VTC's CEO Mr. Dam My Nghiep. Turnover in 2016 is estimated to increase by 150 per cent year-on-year and profit is estimated to increase by 140 per cent year-on-year. Its contribution to the state budget in 2016 is estimated to increase by 134 per cent year-on-year.

Viettel, VNPT, MobiFone and Gtel (Global Communications Corporation) received 4G licenses. 4G is the fourth generation of mobile data transmitting technology, which offers speeds of up 1.5 gigabits per second, or several hundred times faster than 3G. The MIC previously approved the piloting of 4G services by VNPT, Viettel, MobiFone and FPT Telecom.

Among the five carriers in Vietnam, Vietnamobile is the only one that has yet to join the 4G market with high growth potential. Gtel was not among the carriers allowed by the Ministry of Information and Communications to provide the 4G service on a trial basis.

VN Economic Times