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Viettel wants to make chips amidst global shortage

The Saigon Times

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HCMC – Vietnam’s telecom giant Viettel Group has proposed developing and manufacturing chips for domestic and international markets.

During a meeting with Prime Minister Pham Minh Chinh yesterday, August 16, leaders of Viettel suggested becoming a semiconductor manufacturer amid global chip shortfalls.

The company suggested that the prime minister assign it a broad range of tasks to ensure national defense and security, enhancing its role as the leading State-owned enterprise in the high-tech defense industry.

Viettel proposed establishing a nationwide digital transformation platform, as well as financial payment intermediates and electronic clearing services.

It recommended conducting research and development projects on green energy technology, infrastructure modernization in transportation, logistics, urban areas and science and technology.

Viettel sought greater flexibility in determining investment and wage policies, as well as the internal structure and reorganization of operational divisions.

The company urged the Government to establish a new legal corridor for State-owned enterprises, including a mechanism to evaluate corporate operations based on the principle of overall investment efficiency and creating a framework to launch a Venture Capital Fund for investment in innovative start-ups.

In response, Chinh tasked Viettel with researching and manufacturing chips to effectively support national digital transformation.

Viettel, according to PM Chinh, must be one of the top corporations in developing a digital government, a digital economy and a digital society.

Viettel has consistently maintained a pre-tax profit of over VND40,000 billion annually, operating in 10 countries in three continents.

Viettel has seen profitability in seven of 10 foreign markets, bringing in between US$250 million and US$350 million yearly.

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