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VNPT braced for State overhaul this month

Update: September, 17/2013 - 08:46

Clients register for Mobifone services in Ha Noi. Mobifone, one of the strongest trademarks in the country, is likely to separate from the VNPT. — VNA/VNS Photo Hoang Lam

HA NOI (VNS) —The Ministry of Information and Communications (MIC) is expected to formally restructure the Viet Nam Post and Telecommunications Group (VNPT) this month, according to Minister Nguyen Bac Son.

The restructuring would ensure that the country had three or four mobile phone networks, Son said. Currently, Viet Nam has three national telecoms trademarks: Vinaphone, Mobifone and Viettel. The restructuring would leave Vinaphone and Mobifone in existence, as they have built a good reputation on both the local and global markets.

Many industry insiders predict that Mobifone, one of the strongest trademarks in the country, is likely to separate from the VNPT. The company has seen steady profits over the years. In the VNPT's most recent financial statement, 77.6 per cent of the group's VND8.5 trillion (US$404 million) in profits came from Mobifone, while Mobifone's revenue (VND130.5 trillion) accounted for 31.2 per cent of the total.

Under the proposal, VNPT will be organised in the model of a holding company, with the mother company focusing on studying development strategies, management, technology, products, building a brand name, human resources training and external relations. — VNS

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