Vietnamese state-owned operator VNPT has announced that its restructuring plan for the next three years has received the green light from the government.
Deputy prime minister Vuong Dinh Hue has signed a decision approving the plan to establish new business units as part of efforts to develop VNPT into “a leading digital service provider in Vietnam and the digital transaction center in Southeast Asia and Asia.”
VNPT said the main businesses of the restructured company will be providing telecoms, ICT, multimedia and other digital services, as well as consultancy and maintenance for telcos, IT and media buildings and the manufacture, import and export of TMT products.
For the period 2018-2020, VNPT plans to establish a new VNPT Information Technology Company, restructure its international business activities and establishing a new wholly-owned VNPT Global unit.
The company is aiming for average turnover growth of at least 6.5% per year and annual average profit increase of at least 10.8% by 2020.
After the reorganization VNPT will be a one-member limited liability company with 100% of charter capital held by the state. But the operator also plans to pursue an IPO in 2019, as part of its ongoing restructuring efforts.