VNPT division plan gets PM nod

Saturday, Jan 10, 2015 11:15

A prospective customer studies Vinaphone products. — VNS Photo Truong Vi

HA NOI (Biz Hub)  — The Prime Minister agreed to establish three corporations under the Viet Nam Post and Telecom Group (VNPT), according to the Government Office.

The three corporations are VNPT Network Corporation (VNPT-NET), VNPT Telecom Service Corporation (VNPT-Vinaphone) and Communication Corporation (VNPT-Media).

VNPT-Net specialises in wire, wireless and satellite business. The corporation also produces and sells telecommunication (telecom), information and technology (IT) products for VNPT-Vinaphone, VNPT-Media and other developers.

VNPT-Net also does business in consultation, design, construction, operation, exploitation and provision of telecom, IT and media products and services.

VNPT-Vinaphone, whose charter capital is VND5.2 trillion (US$244.4 million), specialises in telecom, IT and television products and services as well as export, import and distribution of electronic and telecom material and equipment.

The corporation aims to earn revenue of VND26 trillion ($1.2 billion) and grow by 49 per cent annually by 2020.

VNPT-Media, whose chartered capital is VND2.3 trillion ($108.1 million), specialises in researching, developing and producing software and value-added products as well as publishing books, periodic publications, records and music products.

On June 10 last year, Prime Minister Nguyen Tan Dung signed Decision 888/QD-TTg, approving a plan to restructure VNPT in 2014 and 2015.

On November 18, the Prime Minister approved the Minister of Information and Communications (MIC)'s proposal to transform MobiFone into a corporation. It was detached from State-run VNPT and placed under MIC management in July following the implementation of a restructuring plan for VNPT.

At the beginning of December, MIC Minister Nguyen Bac Son signed Decision 1798/QD-BTTTT to establish MobiFone Telecommunications Corporation. — VNS

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