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VietNamNews

Decision soon on restructuring telecoms

Update: September, 14/2012 - 09:03
The Ministry of Information and Telecommunications will take an official decision by the end of the year on the restructuring of State-owned telecom giants, Vinaphone and Mobifone, according to Pham Hong Hai, general director of the ministry's Authority of Telecommunications.

Hai said the Viet Nam Post and Telecommunications has submitted a merger plan to the ministry for approval. But the final decision rests with the ministry, he added.

Thanh Nien (Young People)

JBIC helps fund infrastructure projects

The Ho Chi Minh People's Committee and Japan Bank for International Cooperation (JBIC) signed on Wednesday a memorandum of understanding regarding funding for infrastructure projects in the city.

Under the agreement, JBIC and HCM City branch of the State Finances Investment Company (HFIC) will form the HCM City Infrastructure Investment Fund with JBIC as the main contributor.

The HFIC estimates the city's current infrastructure development funding needs at about VND50,000 billion ($2.45 billion) each year.

Sai Gon Giai Phong (Liberated Sai Gon)

PVN asked to focus on core activities

Prime Minister Nguyen Tan Dung asked PetroVietnam (PVN) to restructure its two, three and four level businesses to focus on five core areas: search, exploration and exploitation of oil and gas; petrochemical refineries; gas industry; electricity industry; and high-quality oil and gas distribution services.

Dung asked the corporation to expedite its restructuring process, including the withdrawal of capital from securities, civil construction, real estate and hotel sectors.

The corporation has also been asked to report on the production and finances of member companies, especially highlighting difficulties and potential solutions for inefficient firms.

Tin Tuc (News)

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