Business

VNPT establishes mainstay corporations

The Vietnam Post and Telecommunication Group (VNPT) officially announced the establishment of VNPT-Vinaphone, VNPT-Media, and VNPT-Net on May 15.
The Vietnam Post and Telecommunication Group (VNPT) officially announcedthe establishment of VNPT-Vinaphone, VNPT-Media, and VNPT-Net on May15.

VNPT-Vinaphone, with a registered capital of 5.2trillion VND (239.6 million USD), will focus on the trade oftelecommunication and information technology service products,television and broadcast, multimedia, and value-added services. It hasset the revenue target for 2020 at 26 trillion VND (1.19 billion USD)with a pre-tax gain of 3.3 trillion VND (152.07 million USD) and anaverage growth rate of 49 percent per year.

The companyexpects that its mobile phone service will occupy more than 30 percentof the market share and over 80 percent of the broadband service by thesame time.

Meanwhile, VNPT-Media will study, develop andproduce software service products, manage and carry out televisionactivities, and supply subscriber programmes. Its charter capital is 2.3trillion VND (105.9 million USD).

VNPT-Net has beenestablished on the re-organisation of several companies, includingVietnam Telecoms National, Vietnam Data Communication Company, and VNPTInternational.-VNA
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