VNPT to be equitised in 2018
The equitisation of the Vietnam Post and Telecommunications Group (VNPT) in 2018 was discussed at a meeting of the Ministry of Information and Communications in Hanoi on January 23.
Transaction at VNPT business centre in Hanoi (Photo: VNA)Hanoi (VNA) – The equitisation of the Vietnam Post and Telecommunications Group (VNPT) in 2018 was discussed at a meeting of the Ministry of Information and Communications in Hanoi on January 23.
The equitisation is part of the group’s efforts to implement the Prime Minister’s Decision 2129/QD-TTg on restructuring the VNPT in the 2018-2020 period.
In the restructuring plan, the VNPT will focus on telecommunications, IT and multimedia products and services and other digital services; consultation, survey, design, installation, exploitation, maintenance, repair, and leasing services in telecommunications and IT.
It will also engage in researching, developing, manufacturing, trading, exporting and importing telecommunications, IT and multimedia products and services.
Accordingly, the VNPT aims for an average revenue growth rate of at least 6.5 percent per year, with profit growth of over 10.8 percent per year by 2020. In the 2021-2025 period, the annual growth is expected to reach over 7.7 percent for revenue and more than 11 percent in profit.
Deputy Minister of Information and Communications Pham Hong Hai asked the VNPT to learn from equitisation experience from other successful firms.
VNPT General Director Pham Duc Long affirmed that in 2018, the firm will concentrate on restructuring its production and organization.
Meanwhile, VNPT Vice General Director Huynh Quang Liem said that the group has set up a team for equitisation, while learning from other businesses and international advisory organisations. So far, all units of the VNPT have been ready for equitisation.
The Ministry of Information and Communications has also set up a steering committee for VNPT’s equitisation led by Minister Truong Minh Tuan.-VNA
You should also see
Japanese Ambassador bids farewell to Acting President
Acting State President Vo Thi Anh Xuan on April 24 hosted a reception for Japanese Ambassador to Vietnam Yamada Takio who came to bid farewell to her.
See more
Business
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Business
Auction for gold bullion to continue on April 25
Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.
Business
Over 20,000 products exhibited at Global Sourcing Fair Vietnam 2024
The Global Sourcing Fair Vietnam 2024 hosted by Global Sources kicked off in Ho Chi Minh City on April 24 with the participation of over 400 Vietnamese exhibitors and those from other Asian nations who are showcasing over 20,000 export-standard products across various industries.
Business
Vietnam attends Asia’s biggest food, hospitality expo in Singapore
Five Vietnamese enterprises operating in the fields of food and hospitality are attending the Food & Hotel Asia (FHA) 2024 which is taking place in Singapore from April 23-26.
Business
SBV takes more actions to stabilise foreign exchange rates
The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
