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Deputy Prime Minister Vuong Dinh Hue has approved the Vietnam Posts and Telecommunications Group (VNPT)’s restructuring plan for 2018-2020.
A VNPT emloyee gives advice to a customer
With the plan, VNPT hopes to become a strong State-owned economic group, a leading digital services supplier in Vietnam and a digital transaction centre in Southeast Asia and Asia.
The group is aiming for average turnover growth of at least 6.5 percent a year and annual average profit increase of at least 10.8 percent by 2020, and at least 7.7 percent and over 11 percent, respectively, during 2021-2025.
The group will provide telecommunications and information technology products, media products, provide consultancy and maintenance for telecommunications, information technology and media buildings and manufacture, import and export telecommunications, IT and media products.
Following the restructuring plan, VNPT will establish VNPT Information Technology Company, merge the VNPT Hospital of Nursing – Rehabilitation in Hai Phong city into the Hospital of Post and Telecommunications in Hanoi and maintain the Vietnam Telecom Services Corporation.
The group earned revenue of 144.7 trillion VND (6.36 billion USD) in 2017, rising by 7 percent over the previous year. Its pre-tax profit reached 5.1 trillion VND (224.4 million USD), up by 21 percent.
VNPT paid more than 4 trillion VND (176 million VND) to the State budget in 2017, up by 9.3 percent.
It has 34.1 million mobile subscribers and 4.6 million broadband subscribers by the end of 2017. –VNA
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