The fastest growing brand is Vietnam Posts and Telecommunications Group (VNPT), recording an impressive 42% growth to 2.4 billion USD.

VNPT has invested in 4G networks in order to meet customer demand and has ramped up efforts to increase its fibre optic cable speed, while still maintaining tariffs.

The Vietnamese government’s plans for the Fourth Industrial Revolution, smart cities, start-ups, and the National Innovation Network Program, 4G and 5G, IoT, and mobile telecommunication networks, are supporting the telecoms sector to grow from strength to strength, the report said.