Swift expands into Vietnam

Telecommunications firm Swift Networks has entered into a three-year reseller agreement with Vietnamese systems integrator Sieu Nhat Thanh Co to expand into the South-East Asian country.

Under the agreement, SNT will resell the Bentley-based Swift’s entertainment and guest connectivity services at 500 rooms across three resorts.

Swift operates across several markets in Australia and internationally, including mining, oil and gas, aged care, maritime, government and student accommodation.

In a statement, the company said the Vietnamese hospitality industry would be a future growth area.

Vietnam has over 420,000 hotel rooms, 75 per cent more than Australia, with 20 million inbound tourists expected by 2020, an increase of 100 per cent from 2016.

Swift chief executive Xavier Kris said the firm would be well positioned to cater to the needs of these tourists.

“Twenty seven per cent of inbound tourists to Vietnam come from China, the needs of which Swift is already experienced in addressing in Australia through its content relationship with Future TV, a subsidiary of CCTV, China Central Television,” he said.

Mr Kris said the agreement provided a platform for continued expansion in the Asia Pacific region.

“Significantly, our entry into Vietnam has been achieved without dilution to our pricing strategy or gross margins.”

Shares in Swift were up 2 cents to trade at 36 cents each, as of 2pm AEST.