Strengths

1. Abundant and stable resources

After more than 30 years of formation and development, Viettel has become a leading state-owned
economic group in Vietnam. Viettel's main business sectors include Telecommunications, Information
Technology (IT) solutions and digital services, high-tech research and production, e-commerce, and
logistics.

Viettel is a pioneering state-owned enterprise in implementing the national strategy in the fields of
telecommunications, IT, and high-tech defense industry. It is consistently the most efficient enterprise,
with pre-tax profits in recent years consistently exceeding 40 trillion VND per year, and the pre-tax profit
margin over revenue always maintained above 25%.

In 2020 and 2021, Viettel was the most influential Vietnamese enterprise in terms of innovation in
the Southeast Asia and South Asia regions. Viettel is also the most valuable telecommunications brand in
Vietnam, ranking 1st in Southeast Asia, 10th in Asia, and 18th among the world's largest network
operators in 2022. Viettel has become a model of an innovative and efficient state-owned enterprise.

As a leading enterprise in telecommunications and IT in Vietnam, Viettel is also a pioneer and

effective player in foreign investment with a presence in 10 markets totaling 260 million people across
three continents. Currently, 7 out of 10 markets are profitable, with repatriated cash flows in recent
years ranging from 250-350 million USD per year. To date, Viettel has recouped 900.3 million USD,
equivalent to 62% of the total investment.

In its role as the core of building Vietnam's high-tech defense industry complex, Viettel has
researched and produced over 50 types of products in 10 high-tech equipment sectors to supply the
military. Viettel's product ecosystem is built on the most modern C5ISR combat model in the world.

2. High Growth Rate:

In the past 5 years (2015-2019), Viettel Post has achieved an average annual revenue growth rate of
43.3%. The revenue nearly quadrupled over the past 5 years, and the company has consistently
maintained a high and stable growth rate.

The main drivers for this outstanding growth come from three key pillars: postal and delivery
services; warehouse and logistics; and service commerce. The after-tax profit in 2019 reached over 380
billion VND, representing a growth rate of 36.2% compared to 2018. When compared to the industry,
Viettel Post has a higher net profit growth rate compared to the express delivery industry (33.4%) and
significantly surpasses the transportation and warehouse industry (7.6%). In the period from 2015-2019,
the average net profit growth rate reached 59% per year.

In the first 6 months of 2020, amidst the complex developments of the Covid-19 pandemic affecting
many businesses, Viettel Post still achieved very positive results in its business operations. The first half
of 2020 continued to witness outstanding operational results for Viettel Post, with gross revenue of
6,797 billion VND and after-tax profit of nearly 200 billion VND, growing by 25.3% and 21.2%,
respectively, compared to the same period the previous year.
3. Extensive Nationwide Coverage Equivalent to Postal Services:

Viettel Post has a network covering all 63 provinces and cities nationwide, from urban to rural areas,
including islands, with 2,200 post offices, 6,000 transaction points, and 22,000 employees, ensuring
smooth transportation of goods throughout the country.

In terms of transportation vehicles, Viettel Post currently has nearly 600 various types of transport
vehicles serving the transportation needs of goods to all provinces and cities nationwide. Additionally,
the company owns 12 out of 22 cars in the Yen Vien - Song Than high-speed container train, reducing the
transportation time from North to South by about 30%, and saving about 20% in transportation costs
compared to road transport. This is a notable strength when analyzing the SWOT model of Viettel Post.

4. Young and dynamic workforce

In the past 5 years, Viettel has recruited over 4,200 employees with an average age of around 24-25
years, specifically for the high-tech sector. Approximately 40% of leadership and management positions
are held by individuals under the age of 35. In stark contrast to many well-established companies, Viettel
embraces the opportunity to develop and assign key positions to young talents. Now, career
advancement is entirely based on competence.

5. Brand popularity

In 2019, Viettel was valued by Brand Finance at 4.3 billion USD, securing its position among the Top 500
largest brands globally. However, by mid-2022, the brand value of Viettel had soared to over 8.7 billion
USD. This confirmed figure is the highest in the development history of the corporation to date. Viettel
ranks second among the most valuable telecommunications brands in Asia and 18th globally. It has
climbed to the 227th position among the most valuable brands worldwide.

Weaknesses

1. Lack of In-Depth Management Experience

- As a company under the Ministry of National Defense, all members of the management board have a
military background without specialized management training. This results in relatively rigid and
outdated management practices that may not be suitable for the current market demands. The
management and operations are also significantly influenced by external factors, such as defense and
security concerns.

2. Incomplete Network Coverage and Operational Challenges

- Despite substantial investments in market development, Viettel's network still fails to meet the
current demands of users. The company faces difficulties in operations and management due to a lack of
synchronization in its business activities. Inefficiencies in the network can lead to customer
dissatisfaction and hinder the overall business performance.

3. Limited Business Capital

- In the pursuit of expanding its international market presence, certain areas within Viettel Global, a
subsidiary, require additional funding in USD. This leads to a situation where domestic subsidiaries do
not have sufficient USD to settle equipment purchase contracts promptly, resulting in a bank debt of
approximately 6,000 billion VND. This financial constraint poses a significant challenge within Viettel's
SWOT model.

4. Product and Service Quality Issues

- Several product and service categories do not operate as efficiently as expected, leading to more
losses than anticipated. Due to the company's long establishment, newer competitors can introduce
similar products with better pricing and lower costs, impacting Viettel's market position.

5. Outdated and Inefficient Categories

- Many outdated product and service categories no longer align with current market demands.
However, effective solutions to address this issue have not been implemented, resulting in unnecessary
budget allocation for management and repairs.

6. Customer Service Challenges

- With Viettel's rapid growth and expanding business network, the customer service team faces
challenges in keeping up with the increasing number of customers. The customer support staff often
lacks professionalism, and there is a shortage of highly skilled personnel. Customers frequently
encounter issues such as spam messages, weak 3G signals, and excessive data consumption in 5G,
despite continuous efforts by Viettel to improve service quality.

Opportunities

1. Expanding business markets creates many new potentials.

- With 16 years of international business operations in 11 countries (including Vietnam), Viettel has the
potential to further expand its business into new markets with greater opportunities. This expansion can
contribute to the effective realization of the goal to cover the global market.

2. Government policies to stimulate business development.

- The government is actively implementing policies to encourage economically capable companies like
Viettel to expand their investments and collaborations abroad. This support is especially notable after
Vietnam's entry into the World Trade Organization (WTO). Government restrictions on the establishment
of new mobile telecommunications companies in the domestic market create opportunities for Viettel to
strengthen its position.

3. The rapid development of information technology

- Despite the challenging global situation caused by the Covid-19 pandemic in 2019 and 2020, the
information technology and telecommunications sector has maintained strong and consistent activity.
This industry has become a bright spot for the national economy during the pandemic. The continuous
development of technology presents opportunities for Viettel to innovate and offer new solutions and
services in response to evolving market needs.

Threats
1. The fierceness of market competition

- Being one of the three major domestic telecom providers alongside Vinaphone and Mobifone, Viettel
faces fierce competition from these established players. Additionally, smaller businesses in the same
industry also contribute to the competitive landscape. In international markets, where Viettel is relatively
new, it may face challenges in competing with well-established telecom companies in those regions.

2. Deploy business strategies suitable to the market.

- Gaining market share and adapting to the preferences, satisfaction levels of customers, and the
competition in foreign markets pose significant challenges for Viettel. Tailoring business strategies that
resonate with the local market dynamics, including pricing and promotions, is crucial for quick
penetration into a new country.

3. The need for service diversification

- Meeting the diverse demands of consumers requires continuous improvement and diversification of
Viettel's services. Maintaining competitive pricing in new markets, especially during the initial entry
phase, is essential. Offering various promotions while ensuring service quality is also critical for attracting
a large user base swiftly.

4. Changes in the legal system

-Government-led modifications to laws and regulations can impact business operations. Excessive
regulatory changes and legal complexities can reduce the competitive capabilities of companies.
Adapting to alterations in the legal framework requires resources and may pose challenges for Viettel.

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