VNPT restructuring plan receives approval

8 Jan 2018

Vietnam Posts and Telecommunications Group (VNPT), the parent of telecoms operator VNPT-Vinaphone, has announced that the government has approved its restructuring plan, which aims to develop the state-run firm into the country’s ‘leading digital service provider’. Under the plan, VNPT’s main businesses will involve: the provision of telecoms, IT, multimedia communications products and services, and other digital services; the provision of consultancy and maintenance for telecoms, IT and media buildings; and the manufacture, import and export of telecoms, IT and media products.

In the period 2018-2020, the group will establish new units, including VNPT Information Technology Company (VNPT-IT) and VNPT Global, and will restructure the international business activities of VNPT International (VNPT-I). By 2020, VNPT is aiming for annual average revenue growth of at least 6.5% and an annual average profit increase of at least 10.8%. The approval is expected to clear the way for VNPT to finalise plans to hold an initial public offering (IPO) next year.

Vietnam, VNPT-Vinaphone