VietNamNet Bridge – Mai Van Binh, general director of Mobifone, one of the three largest mobile networks in Vietnam, has been appointed as the firm’s chair, replacing Mr. Le Ngoc Minh.
Mr. Mai Van Binh.
On Thursday morning the Vietnam Post and Telecommunications Group (VNPT) presented the appointment decision to Binh. The decision was announced just before Mobifone was transferred from VNPT to the Ministry of Information Communications.
Le Ngoc Minh, Mobiphone’s General Director, was appointed as chairman in early 2011. At the same time, Mr. Mai Van Binh (born 1954), deputy director, was appointed general director.
Mai Van Binh was appointed to the position of chairman of the board.
Earlier, the government approved the proposal to restructure VNPT in 2014 and 2015, under which Mobifone will be separated from VNPT and transferred to the Ministry of Information and Communications.
For years, Mobifone contributed huge revenues and profits to VNPT – its parent company. Mobifone is compared to VNPT’s “golden goose”, since it accounts for approximately 65-70 percent of VNPT’s total profits.
Last year Mobifone earned VND41 trillion of revenue and more than VND6 trillion of profit ($1 = VND21,000). Together with Viettel and Vinaphone, these three networks hold more than 90 percent of Vietnam’s telecom market.
Also under the direction of the government, this year the Ministry of Information and Communications will have to submit to the Government the equitization plan for Mobifone.
In other news, Mr. Nguyen Quang Phi has been appointed general director of the Vietnam Insurance Group or Bao Viet, replacing Mr. Duong Duc Chuyen from June 25.
Phi, former general director of Bao Viet, will assume the position until 2017.
This is the second time this year Bao Viet has replaced its general director. In early April, the group appointed Mr. Duong Duc Chuyen to temporarily replace Mr. Tran Trong Phuc.
In the first quarter, Bao Viet’s after-tax profit reached VND402 billion, up 43 percent compared to the same period last year. Its total premium in the quarter also increased 4.6 percent, to VND2,367 billion.
Na Son