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Viettel Post delivers on its word
Viettel Post Joint Stock Corporation expects to join Vietnam’s growing club of enterprises with revenues of VND1 trillion ($48 million) this year.
Luong Ngoc Hai, general director of Viettel Post under military-run telecommunication group Viettel Group, told VIR that Viettel Post’s dream would come true this year.
“We will reap revenue of nearly VND1.1 trillion ($52.9 million), up 28 per cent on-year, and enter Vietnam’s club of enterprises with VND1 trillion ($48 million) in revenue,” Hai said.
“2013 will also be the fourth year for Viettel Post to have a high dividend rate of 15 per cent, a profit rate of 4 per cent of total revenue and a return-on-equity rate of 33 per cent,” he said.
The first day of July, 2013 will see Viettel Post celebrate its 16th anniversary of establishment. Under the prime minister’s Decision 753/QD-TTg dated May 17, 2013 on Viettel Group’s restructuring between 2013-2015, Viettel Post is considered as one of the group’s key business developers, thanks to its ever-enhancing prestige and success.
Cornerstone for success
To reach its big targets for 2013 and beyond, Viettel Post is using a business strategy of “Establishing networks first, and then business activities” as its key to success. It is also pursuing a development policy featured by close combination between economy and national defence, infrastructure investment, customer-oriented business, quick development, stability-oriented reform and human-oriented development.
Viettel Post’s service network covers 98 per cent of districts and 85 per cent of communes nationwide. These figures will hit 100 per cent next year when implementation of a cooperation plan for using collaborators between Viettel Post and Viettel Telecom is concluded.
“Our services will cover all hamlets nationwide in 2014. We always strengthen the trust and pride of those benefiting our services, and provide them with the best services,” Hai said.
Besides, Viettel Post has also used state-of-the-art information and technological systems in management and customer care. The number of the corporation’s software offerings increased from two in 2006 to nearly 20 now, encompassing sales and pricing management, digital waybill management, vehicle GPS, mailing and documentation management.
Moreover, Viettel Post has over the past year organised many online training courses and meetings, helping to save costs and swiftly disseminate its business policies.
In the first half of this year, despite economic woes Viettel Post enjoyed a big revenue growth rate of 30 per cent on-year. Of which the corporation’s key sectors also grew strongly, with express mail service (EMS) growing 29 per cent on-year, for example. Other services like telecommunications, office supplies, export-import and passenger transport also witnessed big growth.
Viettel Post currently uses more than 2,000 staff, with four member companies including Ho Chi Minh City Viettel Post, Hanoi Viettel Post, Viettel Post Trans-province and Viettel Cambodia Postal. This translates into 61 branches nationwide ready to serve customers.
Viettel Post’s impressive growth and achievements were last year recognised by the awarding of a Third Grade Labour Medal by the state president and received an award for “strong brand name and sustainable development 2012” from the Ministry of Industry and Trade and Vietnam Chamber of Commerce and Industry. Viettel Post has also been ranked 200th among Vietnam’s top 500 brand names.
Massive potential
Hai underscored Viettel Post’s great global and domestic postal potential.
“We are making efforts to become Vietnam’s leading postal service provider,” he said.
Domestically, Viettel Post’s postal operations are by road and air, like parcel and goods SMS, newspaper and office stationery distribution. However, the corporation will build sea-based logistics, including shipping and container leasing.
“Online trading is strongly developing in Vietnam. It will give us lots of development options,” Hai said.
As for Viettel Group, he said telecommunications-based revenue would plateau, but postal-based revenue would annually add an impressive VND140 billion ($6.73 million) in the coming years.
Regarding its foreign markets, Viettel Post has since 2009 expanded its investments to Cambodia, making it Vietnam’s first postal enterprise with overseas investment. Its services already cover all of Cambodia’s 23 provinces and cities.
“We will strategically expand our business to about 15 nations by 2015 in line with Viettel Group’s business strategy,” Hai said.
“The first thing we do in these markets is conduct market research and establish biggest and firmest postal infrastructure, before implementing our services,” he said. “Unlike other foreign investors who invest in these markets via intermediaries, we will conduct direct investment, along with corporate social responsibility programmes.”
Year 2006: VND91 billion ($4.37 million), up 36.6 times against 2000, with monthly per capita income averaging VND2.5 million ($120.1).
Year 2011: VND597 billion ($28.7), with monthly per capita income averaging VND7.9 million ($379.8).
Year 2012: VND860 billion ($41.34 million), with monthly per capita income averaging VND11.7 million ($562.5).
Year 2013: Expecting VND1.1 trillion ($52.9 million) and joining Vietnam’s club of enterprises with revenue of VND1 trillion ($48 million).
Year 2014: Expecting VND1.5 trillion ($72.1 million).
Year 2015: Expecting VND2 trillion ($96.15 million).
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