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VNPT VinaPhone set to launch

Released at: 10:42, 07/08/2015

VNPT VinaPhone set to launch

Corporation brings together subsidiaries of VNPT and will come into being on August 11.

by Hoai An

VNPT VinaPhone Corporation will be launched on August 11 and aims to acquire a market share of 30 per cent in mobile services and over 80 per cent in broadband services by 2020.

The Corporation was created on the basis of unifying subsidiaries of the Vietnam Post and Telecommunications Group (VNPT), including VinaPhone, the Vietnam Data Communication Company (VDC), the Vietnam Telecoms National Company (VTN), and VNPT International, to focus business on telecommunications services and information technology under Decision No. 888/QD-TTg from the Prime Minister on the restructuring of VNPT.

Its charter capital will be VND5.2 trillion ($244.1 million), with main business lines being telecommunications products and services, IT, multimedia communications, broadcasting services, business consulting services, and the leasing of telecommunications infrastructure and equipment. It also aims to export, import and distribute materials and equipment in the fields of electricity, telecommunications, and IT.

“Before 2020 we aim to achieve total revenue of VND83.5 trillion ($3.9 billion), with average growth of 9.5 per cent a year,” General Director of VNPT VinaPhone, Mr. Luong Manh Hoang, said. “Profit before tax is to be VND3.3 trillion ($153.5 million), growing annually at 49 per cent.”

Mr. Hoang believes human resources will play an important role in the success of VNPT VinaPhone, and it therefore aims to improve policies to stimulate and promote passion, dynamism, creativity, and dedication among its officers and staff.

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