Vietnam Posts Plans Further Overseas Investment

Viettel Post Joint Stock Company held the 2010 Annual General Meeting on May 23, 2010.

 

After more than one year going public, on March 27, 2009 and transforming into a joint stock company, Viettel Post has made long strides in business front, with revenues rising 158 % year on year to VND363 billion in 2009. Also last year, Viettel Post became the first Vietnamese post company to make international presence after it provided services in all 24 provinces in Cambodia. In 2009, the firm paid a dividend of 12.93 %.

 

In 2010, the company plans to expand the scope of four key services: domestic delivery, international delivery, transportation and other value-added services, aiming to increasing its revenues by 33 % from 2009 and ensuring a dividend payout ratio of 15 % or higher.

 

The firm will continue applying modern information technology to ensure all postal matters and parcels will be automatically categorised by encryption systems.

 

Mr Pho Duc Hung, Deputy General Director of Viettel Post, said: “We will continue to expand investment in Cambodia, promote and set up affiliated companies in Laos and Myanmar. This year, we will reshuffle our organisational structure in the form of a joint stock company.