Vietnam’s military-run telco among Asia’s most influential companies: ACES Awards
Vietnamese telecoms giant Viettel took home the Asia’s Most Influential Companies title at the 2020 ACES Awards.
The ACES Awards, or the Asia Corporate Excellence & Sustainability Awards, honors sustainable and pioneering businesses in Asia for their influence on people and international relationships.
Businesses that can meet the standards of growth, manpower, creativity, brand influence in Asia, and commitment to sustainability goals are selected to participate in each of the ACES categories.
Military-run Viettel, Vietnam’s largest telecommunications company, won this year’s ACES award for Asia’s Most Influential Companies, the only company in Vietnam to be given the prestigious title.
Viettel, owned and operated by the Ministry of National Defense, is known for its pioneering use of digital technology to create a more tech-savvy society thanks to several of its digital transformation schemes, including a focus on developing e-government management, smart cities, and digital transformations in the health, education, and transport sectors.
The Vietnamese telco also contributes to the development of four other Southeast Asian countries — Cambodia, Laos, Timor-Leste, and Myanmar — in terms of providing a range of telecommunications, information, and technology initiatives.
Viettel’s data revenue in its overseas markets reached US$500 million in the second quarter of 2020, 106.2 percent of its target for the period.
E-wallet turnover reached a total of $6 million, equivalent to 127 percent of its goal. The number of e-subscribers using Viettel-owned e-wallet services hit 154 percent of its target.
ViettelPay, an electronic payment ecosystem operated by Viettel, has been gaining a foothold amongst consumers in the country. The platform now boasts over 300 partners across 15 different service sectors.
With over VND50 trillion ($2.15 billion) generated from 40 million transactions last year, Viettel now plans to move into the digital payment arena by offering mobile money.
Known as a pioneer in network security, the military-run group serves as a key provider of security information products and services to government, ministries, sectors, and many large enterprises.
In terms of brand value, Viettel was formerly ranked first in Southeast Asia, 102th in Asia, and 355th in the world by Brand Finance, the world’s largest brand valuation consultancy.
- China holds simultaneous military drills in four seas, again
- Joint Statement of APEC Finance Ministers on economic control and recovery by Covid-19
- US criticizes China for breaking promise in the East Sea
- Indonesia learns from Vietnam’s successful handling of COVID-19 second wave
- Noi Bai Airport busy as domestic travel resumed