Vietnam telecom conglomerate launched
State run Vietnam Post and Telecommunications Corporation VNPT has been restructured to a conglomerate – the VNPT Group – in a bid to sharpen competitiveness in the face of global integration.
Addressing a ceremony Sunday, Prime Minister Phan Van Khai emphasized that the establishment of the VNPT Group was simply a start, and heavy tasks were ahead.
Khai directed the group to submit to the government a 2006-10 development plan that would include solutions to equitize member companies.
VNPT Group, as a parent company, would comprise member companies Vietnam Post Corporation and Telecommunications Corporations 1, 2, and 3.
In the short term, it would further accumulate investment and maximize profits, as well as focus on enhancing management, restructuring trade and production, building financial transparency, and facilitating favorable conditions for members to become competitive in international integration.
The group is to become the key economic group representing the State in telecommunications and information technology.
PM Khai urged the group to continue to restructure its member enterprises, as services that do not require state subsidy should under go equitization at the earliest.
A number of VNPT Group members have been equitized, and their stocks are to be listed on the nation’s securities exchanges.
New services need to be studied and implemented on the basis of capacity of employees and technical infrastructure.
Khai also urged the group to develop postal and telecommunications services in rural and remote, mountainous areas.
By Ha Viet - Thanh Nien - March 27, 2006.
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