Vietnam’s Viettel Post shifts focus from delivery to cross-border logistics

According to its consolidated financial statements for the first half of 2026, Viettel Post Joint Stock Corporation recorded over VND10.3 trillion (US$395 million) in net revenue, up 3.2 percent year on year.

Its gross profit reached VND559.1 billion ($21.4 million), a year-on-year increase of 3.23 percent.

Behind the relatively modest overall revenue growth, however, was a significant shift in the company's business structure.

Its core logistics revenue surged nearly 40 percent during the period, signaling Viettel Post's ambition to move beyond its traditional role as a delivery service provider.

The firm’s construction-in-progress expenses more than doubled in the first six months of the year compared with the beginning of 2026.

A substantial portion of the spending was directed toward the Da Nang Logistics Center.

Located in the Lien Chieu Industrial Park, the center covers some 8.6 hectares and has a total warehouse area of more than 39,000 square meters.

It is designed to support sorting, storage, fulfillment and goods distribution, providing an important logistics hub for the company's expanding network.

The company's ambitions extend well beyond Vietnam's domestic market.

One of the most notable developments is Viettel Post's recent approval as the investor of the Kim Thanh Smart Border Gate project in Lao Cai Province, northern Vietnam.

Covering 7.87 hectares with total investment of more than VND860 billion ($33 million), the project is expected to significantly improve the speed and efficiency of cargo inspection, screening, transshipment and circulation at the Vietnam-China border.

Moreover, the company's logistics network is beginning to extend into Southeast Asia, with Unitel Logistics in Laos and Metfone Express in Cambodia adding overseas components to its regional footprint.

Many experts assessed that Viettel Post is working toward an integrated logistics system linking postal and delivery services with warehousing, transportation, fulfillment centers, border gates, overseas markets and technology platforms.

The ambition is also reflected in Viettel Post's business plan for the third quarter.

The company expects consolidated revenue to increase 10.9 percent year on year, while revenue from its core logistics is projected to rise 39.9 percent.

If these targets are achieved, Viettel Post's story in 2026 will be about more than how many additional billions of Vietnamese dong it can generate.

The more consequential question will be how successfully the company can shift from its traditional strength in delivery services toward an integrated logistics ecosystem spanning domestic infrastructure, cross-border gateways, regional markets and technology.