Metfone, the first telecommunications brand of Viettel in an overseas market, posted an accumulated revenue of more than US$2.2 billion in its first 10 years of operation.
|Metfone created significant changes in Cambodia’s telecommunications market during its 10 years of operation.|
Its accumulated profit reached $300 million and the earnings before interest, tax, depreciation and amortisation (EBITDA) has been maintained at a high level. By the end of 2018, Metfone had helped Viettel pay back its dividend of nearly $250 million, nearly six times higher than the investment capital.
The results were announced at a ceremony held to celebrate Metfone’s 10 years of operation in Cambodia on Tuesday.
Speaking at the event, Viettel acting chairman Le Dang Dung said Metfone was their first company in the international market.
“After 10 years of development, we realised the goal of Metfone to be a pioneer in building the digital economy and society in Cambodia,” Dung said.
He said Viettel considers Metfone’s new mission to be modernising the economy with the most advanced technologies including 5G, artificial intelligence, virtual reality and big data.
Samdech Pichey Sena Tea Banh, Deputy Prime Minister and Minister for National Defence of Cambodia, said Metfone has made a significant contribution to the country’s development. He said he expected Metfone to remain a symbol of co-operation and friendship between Viet Nam and Cambodia.
Viettel organised the “Intelligent Connect 2019” conference to showcase latest mobile technologies such as AI and the internet of Things (IoT) with speakers from Google, Huawei, Facebook and Ericsson.
Metfone started offering services in Cambodia on February 19th, 2009. After only two years of operation, Metfone took the lead in terms of market share with 48 per cent.
The company helped increase mobile phone density in Cambodia from 25 to 120 per cent in its 10 years of operation.
Metfone has contributed $500 million of taxes to the Cambodian government and created 3,000 direct jobs.
Last year, Metfone was the first telecommunications provider in Cambodia to offer 4G, 5G, eSIM and eMoney services, helping to create an online payment revolution in the country.