VNPT Group Launched

After its conversion, the VNPT Group will become a complex consisting of a parent company and member companies. Accordingly, the VNPT Group will be the parent company. The conversion aims to increase capital accumulation and competitiveness, and maximise profits. Also, the process will re-establish a production and business structure, making financial relations healthy during the renovation process and creating more favourable conditions for member enterprises.

 

The conversion of the group was in preparation for years. From 2000, VNPT piloted the separation of post and telecommunication into two independent units. The step has helped improve production and business effectiveness and competitiveness of the telecommunication sector, helping it stand firm and develop. So far, VNPT has basically completed the separation.

 

To cope with increased competition and meet the increasingly high demand of users, VNPT has concentrated on developing its trademarks. Recently, the group developed and carried out its ‘Strategy on VNPT trademark development in the whole network.’ Accordingly, VNPT will maintain its development orientations as the leading provider of post, telecommunicaton and information technology services in Vietnam, capable of reaching the world market and competing against globally famous opponents.

 

Addressing the ceremony at the VNPT launch, Prime Minister Phan Van Khai stressed that the announcement of the decision was just the beginning. In the short term, the Prime Minister asked the group to develop organisational and financial regulations for the group and corporations. He also asked for clear regulations for the separation between post and telecommunication. Furthermore, the Prime Minister noted that the group should continue to renew and rearrange its activities. Accordingly, the fields in which the State doesn’t need hold 100 per cent capital should be equitised for increased production and business effectiveness. Furthermore, the Prime Minister noted that the group should continue to renew and rearrange its activities. Accordingly, the fields in which the State doesn’t need hold 100 per cent capital should be equitised for increased production and business effectiveness.

The Prime Minister asked the group to submit its five year development plan from 2006 to 2010 to the Government, presenting its technology solutions and its leading role in the industry. In particular, Khai emphasised the importance of international co-operation, urging the VNPT Group to promote its partnership and co-operation with foreign companies in post, telecommunication, and information technology. The Prime Minister said that the Government had pledged to create favourable conditions for foreign enterprises to invest in Vietnam.