Minister of Information and Communications Nguyen Bac Son (middle) awards the decisions of appointments to Le Nam Tra (left) and Cao Duy Hai. — Photo ictnews.vn

HA NOI (Biz Hub) — The Ministry of Information and Communications officially appointed Le Nam Tra, the general director of the MobiFone Telecommunications Corporation, as its new chairman on April 21.

Tra would replace Chairman Mai Van Binh, who retired on December 31, 2014.

Born in 1961, Tra started working at the Vietnam Posts and Telecommunications Group (VNPT) in 1989 and moved to its subsidiary Vietnam Mobile Telecom Services Company, which operated MobiFone, in 1994.

He was appointed as MobiFone General Director from August 12, 2014. After the company was given approval to transform into a corporation on December 2, he was appointed as its General Director on December 11, 2014.

Speaking at the ceremony to announce the appointment, held in Ha Noi on April 21, Tra said the process for the company's equitization was underway as planned. He added that MobiFone had formulated a plan for the 2015 2020 period, with the target of increasing profits by 10 per cent this year.

Meanwhile, Cao Duy Hai, VinaPhone director, would take over Tra's position as MobiFone general director from April 20. Hai, also born in 1961, worked as a General Director of MobiFone Center I and MobiFone's Deputy General Director before being assigned as VinaPhone Director last July.

MobiFone is the second largest mobile network operator in Viet Nam, only after Viettel. In the first quarter of this year, the corporation reported revenue of nearly VN8.6 trillion (US$40.9.5 million), reflecting a 4.6 per cent year-on-year increase. Its profit reached more than VND2 trillion ($95.23 million), which was equivalent to 30 per cent of its annual plan.

During the second quarter, MobiFone is targeting revenue of more than VND9.4 trillion ($447.6 million) and about VND1.8 trillion ($85.7 million) in profits. — VNS