Vietnamese government looks to boost defence capabilities through Viettel

HANOI, -- The Vietnamese government is encouraging the state-owned Military Telecommunication General Corporation (Viettel) to leverage its expanding financial resources to spur defence industrial capabilities.

State-run news agencies reported on 22 July that Viettel's revenues reached VND197 trillion (USD9 billion) in 2014, a 21% year-on-year increase over 2013. In 2015 the company, which employs 85,000 people, is aiming to achieve revenues of VND230 trillion. The financial performance maintains Viettel's position as Vietnam's second-biggest company by revenues behind PetroVietnam.

Commenting on Viettel's development plans in a recent government hearing, the company was called upon to continue its strong economic performance but also to "build itself into a strong group in the defence industry [sector]".