Vietnam’s top telecommunications firm Viettel is set to invest VND4,000 billion ($151.8 million) in expanding 5G coverage in Ho Chi Minh City this year, in order expand the 5G service to nearly all citizens in the city.

Military-run Viettel made the announcement on Tuesday, as part of the signing ceremony of a strategic cooperation between Ho Chi Minh City authority and Viettel. The 10-year collaboration (2026-2035) aims to elevate the biggest city of Vietnam into a regional financial center.

Per the agreement, Viettel becomes a strategic partner of the municipality in digitalization-digital infrastructure, smart city, logistics and financial center infrastructure, and science-technology-innovation. Viettel also seeks to cooperate with the city in training high-tech talents.

Prior to the latest move, Viettel already invested VND10,000 billion in building a 140-MW data center in Ho Chi Minh City, among the biggest data centers in Southeast Asia. Its 4G coverage in the city reached 99,4% of the area in the city with 9,300 stations.

Viettel recorded a pre-tax profit of VND56,800 billion on a revenue of VND200,400 billion in 2025.

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