Hanoi Times – Vietnam Post and Telecommunications Group (VNPT) and infrastructure developer Becamex IDC o­n December 17 signed a strategic agreement in a bid to synergise their strengths.

The agreement involves financial cooperation between the two companies, with both parties pledging to become strategic shareholders in the other and to support o­ne another when they equitise and establish a joint venture company

“This is a notable partnership as it will synergise the strengths and resources of two of the country’s leading companies,” said VNPT’s vice general director, Nguyen Ba Thuoc.

The two business giants are committed to using each other’s products and services.

“Partnering up with o­ne of the country’s biggest contractors, Becamex, will help us expand our coverage,” said Nguyen Ba Thuoc.

On the other side, Becamex IDC will be awarded VNPT infrastructure development contracts, according to Becamex IDC CEO, Nguyen Van Hung.

“Collaboration between Becamex IDC and VNPT marks an important step in the development of both corporations,” said Nguyen Van Hung.

Hung added that the two companies will focus o­n developing telecom infrastructure for industrial zones, processing zones and trade centres.

VNPT last year posted revenue of VND 38.3 trillion (USD 2.4 billion), up 14.9% compared to 2005 and 3.4% higher than the company’s initial forecast.

Becamex IDC, based in the southern province of Binh Duong, currently invests USD 3 billion in a number of infrastructure and real estate projects in Vietnam.