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.

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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% per year, with profit growth of over 10.8% per year by 2020. In the 2021-2025 period, the annual growth is expected to reach over 7.7% for revenue and more than 11% 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

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