Customers get support at a VNPT transaction office in Viet Nam. — Photo vneconomy.vn

HA NOI (Biz Hub) — The Viet Nam Post and Telecommunications Group (VNPT) will present its new firm, the VNPT VinaPhone Corporation, on August 11.

The new firm has been launched with an aim to claim more than 30 per cent of the mobile phone service's market share and more than 80 per cent of the bandwidth service's market share in Viet Nam.

VNPT VinaPhone will be owned and all its registered capital will be held by the VNPT. It will focus on key businesses such as telecommunication and information technology services and products; multi-media, television and radio broadcasting services; supply of consulting, designing and leasing of telecommunication work and facilities; and wholesale and retail sales of electrical, electronic, telecommunication and IT materials and equipment.

With a registered capital of VND5.2 trillion, the corporation aims to earn VND26 trillion in revenue by 2020, making a pre-tax profit of VND3.3 trillion and an annual average growth rate of 49 per cent.

In a talk with ICTnews earlier, General Director of the VNPT VinaPhone Luong Manh Hai said the newly established corporation was a huge change for the VNPT. This change will not affect its customers.

Just as its rival firm Viettel has grown in strength in recent years, VNPT has also progressed, but at a more modest level in the market, compared with its opponents.

For strong development, the VNPT would have to learn a lot from its competitors as well as its domestic and foreign partners who had long-term experience in the market, Hai said. — VNS