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

VNPT-Vinaphone, with a registered capital of 5.2 trillion VND (239.6 million USD), will focus on the trade of telecommunication and information technology service products, television and broadcast, multimedia, and value-added services. It has set 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 an average growth rate of 49 percent per year.

The company expects that its mobile phone service will occupy more than 30 percent of the market share and over 80 percent of the broadband service by the same time.

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

VNPT-Net has been established on the re-organisation of several companies, including Vietnam Telecoms National, Vietnam Data Communication Company, and VNPT International.-VNA