Le Lézard
Classified in: Science and technology, Business
Subject: CXP

Viettel Sets Off A Digital Revolution In Vietnam Through Its New Subsidiary Company

HANOI, Vietnam, July 16, 2019 /PRNewswire/ - Amid rapid technological developments, tech companies are in a race to equip the local population with the latest developments and inventions. Vietnam's leading telecommunications company, Viettel, is aiming to do so by setting up its eighth subsidiary company - the Viettel Digital Services Corporation. This new business is tasked with developing strategies and providing solutions to create a digital society.

Mr. Le Dang Dzung, acting Chairman cum General Director of Viettel Group delivers a speech at the launching ceremony

"Viettel Digital Services Corporation or VDS will focus on developing strategies in some of the country's main industries including the digital financial sector, data services sector, credit, insurance, advertising and e-commerce sectors. We want VDS to transform Viettel from a traditional telecoms company into a digital services provider, while playing a key role in the construction of Vietnam's digital economy," said La Dang Dzung, acting chairman cum general director of Viettel Group.

One of the main goals of VDS is to fully develop Mobile Money to allow all mobile users to transfer and receive money and make payments via their mobile accounts wherever they are. This will remove the physical barriers to provide safe and simple digital financial services to people in rural and remote areas who have limited access to traditional financial services. According to the chairman, this will also be the beginning of the digital revolution in the country.

"Such digital financial infrastructure and digital trading will not only connect people across the country, we will also cooperate with companies and the start-up community to create a cashless society. This will, in time, become the foundation of Vietnam's national payment and financial infrastructure," said Mr. La.

VDS targets to have 26 million subscribers within its ecosystem and establish 600,000 payment service points by 2025.

Developing a digital society is Viettel's latest project to help Vietnam keep up in the global technology race. Over the last three decades, the telecom company has built a telecommunications network covering most of the country's population. It has also entered other industries including information technology services, network security, and digital services.                   

About Viettel

Viettel Group is the largest telecommunications group in Vietnam with 76 million customers. The group has more than 20 subsidiary companies operating in different businesses including telecom, investment, real estates, foreign trade and technical services. In 2014, Viettel earned US$9.8 billion in revenue and US$2 billion in profit, ranking among the top largest enterprises in the country in terms of revenue. Viettel Global is also one of the biggest Vietnamese overseas investors. It is currently operating 9 telecommunications companies in 9 countries across Asia, Africa and Asia with 13 million customers.

SOURCE Viettel Group

These press releases may also interest you

at 07:32
Crypto.com, the pioneering payments and cryptocurrency platform, today announces a range of enhanced security measures including Two Factor Authentication (2FA) for certain transactions, insurance of digital assets, and launch of a new Security Page...

at 07:30
The global smart grid market in the forthcoming years is expected to be positively impacted by rising demand for electricity in the face of mounting environmental concerns. The smart grid technology is uniquely equipped to address the situation of...

at 07:30
Harvest Portfolios Group Inc. ("Harvest") announces the following distributions for Harvest ETF's for the month ending August 30, 2019. The distribution will be paid on or about September 9, 2019 to unitholders of record on August 30, 2019 with an...

at 07:30
Chorus Aviation Inc. ('Chorus') today announced a monthly dividend of $0.04 per Class A and Class B share payable on or after September 18, 2019 to shareholders of record at the close of business on August 30, 2019. These dividends qualify as...

at 07:30
Hemisphere Energy Corporation ("Hemisphere" or the  "Company") announces its financial and operating results for the three months and six months ended June 30, 2019. Q2 2019 HIGHLIGHTS Achieved record revenue of $7.4 million, an increase of 32%...

at 07:30
The domain of electronics and electrical systems has witnessed a juggernaut of advancements over the last decade. The advent of new technologies in this domain has created growth spaces across the global magnetic sensors market. The applications of...

News published on 17 july 2019 at 06:28 and distributed by: