Viettel Global to invest US$560 million in Dominican Republic telecom market

HÀ NỘI — Viettel Global is set to make its first major overseas expansion in nearly a decade, with plans to invest US$560 million in the Dominican Republic as the Vietnamese telecom group strengthens its presence in the Caribbean.According to a resolution approved by the company’s board of directors on April 17, the project will focus on building, operating and commercialising telecommunications and digital infrastructure across the Caribbean nation.The investment will be carried out through the establishment of an overseas economic organisation, Viettel Dominicana, in line with Vietnamese regulations and the laws of the Dominican Republic.The final corporate structure and any potential local partners will be determined at a later stage.Its operation will cover the entire territory of the country.In the first two years, Viettel Global will prioritise investment in network infrastructure and core services, including mobile telecommunications, fixed broadband internet and e-wallet services.Later, the company plans to expand into digital technology and value-added services such as data centres, cloud computing, cybersecurity, IT solutions, digital logistics and other digital services, aiming to become a leading digital platform provider in the market.With a population of about 11.4 million and a GDP estimated at $124–130 billion, the Dominican Republic is the largest economy in the Caribbean and one of the fastest-growing in Latin America in recent years. The country also has a relatively developed telecommunications market, with high mobile and internet penetration rates and major operators including Claro, Altice and Viva.The total investment capital of $560 million, equivalent to about VNĐ14.8 trillion, will be financed through a combination of equity and loans. The move comes as Viettel Global reported strong business growth in the first quarter of 2026. The company posted consolidated net revenue of nearly VNĐ12.6 trillion, up 30 per cent year-on-year, while after-tax profit surged 5.7 times to more than VNĐ2.3 trillion.Viettel has invested in telecommunications operations in 11 countries across Asia, Africa and the Americas. Its most recent overseas telecom market entry before this was in Myanmar in 2018.Shares of the company are trading on the Unlisted Public Company Market (UPCoM) at around VNĐ96,000 ($3.65) each. — BIZHUB