VNPT to start equitization process in 2019
Before starting the equitization process in 2019, the Vietnam Posts and Telecommunications Group (VNPT) is expected to complete its restructuring plan as approved in 2014 by the government.
The Deputy Prime Minister Vuong Dinh Hue has signed the Decision No. 2129/QD-TTg approving the restructuring plan for VNPT in period 2018 – 2020. As such, the objective is to transform VNPT into a strong state owned economic corporation, a leading digital services supplier in Vietnam and a digital transaction center in Southeast Asia and Asia.
VNPT has the largest number of fixed broadband subscribers in Vietnam.
|
With regard to the restructuring plan, in period 2018 – 2020, VNPT will establish VNPT Information Technology Company (VNPT-IT); merge the VNPT merge the VNPT Hospital of Nursing – Rehabilitation in Hai Phong city into the Hospital of Post and Telecommunications in Hanoi and maintain the Vietnam Telecom Services Corporation; review the plan to establish VNPT Global under the ownership of VNPT.
To complete the restructuring plan, the VNPT has founded a board, which specializes in the firm’s equitization process, and asked its member companies to compile corporate reports. The VNPT has completely restructured its three corporations, which are telecommunication services provider VNPT-VinaPhone, network operator VNPT Net and value-added services provider VNPT Media. The group will provide telecommunications and information technology products, media products, provide consultancy and maintenance for telecommunications, information technology and media buildings and manufacture, import and export telecommunications, IT and media products.
Along with this plan, under the circumstance of VNPT having a large number of mobile subscribers, but its revenue has not been high as expected, VNPT will rearrange its operation and divest capital from non-core operation, thus obtaining positive earnings.
The group earned revenue of 144.7 trillion VND (6.36 billion USD) in 2017, rising by 7 percent over the previous year. Its pre-tax profit reached 5.1 trillion VND (224.4 million USD), up by 21 percent. VNPT paid more than 4 trillion VND (176 million VND) to the State budget in 2017, up by 9.3 percent. It has 34.1 million mobile subscribers and 4.6 million broadband subscribers by the end of 2017.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years