VNPT targets to complete equitisation within the year
VNPT has a long road ahead to complete equitisation this year
As slow preparation, complexities in evaluating assets, as well as difficulties in completing procedures are hampering state-owned enterprises' equitisation, VNPT is doing its best to stay on schedule. The group even conducted a research on equitisation deals in other sectors (textile and garment, petroleum, and aviation) to learn from others’ experiences and ensure a seamless equitisation process.
According to the latest news, the Ministry of Information and Telecommunication has submitted VNPT’s restructuring plan in 2017-2020 and development strategy by 2020 with vision to 2030 (VNPT 3.0) to the prime minister for approval.
“VNPT expects to receive the PM’s approval this year so that the group can start to operate under the equitised model from January 2019. The early approval plays an important role in helping VNPT complete the equitisation this year,” said Tran Manh Hung, chairman of VNPT.
Hung added that 2018 is considered an important year to implement the VNPT 3.0 initiative. In 2017, the group conducted the overhaul of its management method and operation form according to a more international vision.
VNPT, in collaboration with Deloitte consultancy firm, will build VNPT 3.0, focusing on training modern and high-quality human resources to meet the international demand of the digital age.
Talking about the group’s development plan for the year ahead, Pham Duc Long, general director of VNPT, said that the group will focus on implementing the restructuring plan for 2017-2020 right after receiving the approval from the PM. The largest target is to complete the equitisation this year.
At present, there are numerous missions ahead in VNPT’s equitisation roadmap, including evaluating the firm’s value, selecting strategic partners, organising roadshows, and listing VNPT’s shares on the stock exchange. To assist in this endeavour, VNPT will select a famous and prestigious foreign consultancy firm.
According to Pham Hong Hai, Deputy Minister of Information and Telecommunications, VNPT will conduct its restructuring and equitisation according to the roadmap approved by the PM. It is an important mission, thus the group has to focus on learning from successful equitisation cases to bring maximum benefit for the state, while simultaneously ensuring transparency and compliance with regulations.
RELATED CONTENTS:
Viettel reports massive revenue and profit
Asia-Pacific Getaway submarine cable damaged
VNPT wants to sell finance subsidiary for VNĐ500b
VNPT’s third attempt to pest Maritime Bank coming up
VNPT sets 2019 target for IPO
VNPT schedules IPO in 2019
By Huu Tuan
Related News
Proposal to evaluate the performance of state-owned enterprises according to financial indicators
10:31 | 31/03/2022 Import-Export
Technology and telecommunications enterprises benefit from the potential of digital transformation
20:16 | 23/02/2022 Import-Export
Equitisation and divestment move slowly
16:29 | 21/01/2022 Finance
Absorbing foreign capital to State-owned enterprise equitisation
12:21 | 13/05/2021 Finance
Latest News
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
More News
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Strictly monitor market fluctuations to appropriately adjust prices
14:46 | 27/04/2024 Finance
Closely monitoring market fluctuations to consider appropriate time to adjust prices
09:30 | 26/04/2024 Finance
How does the Land Development Fund work effectively?
09:19 | 26/04/2024 Finance
Vietnam seeks to remove obstacles in upgrade of securities market
13:50 | 25/04/2024 Finance
Price stability from supply increase and transparency in trading in gold market
09:42 | 25/04/2024 Finance
SBV takes more actions to stabilise foreign exchange rates
13:43 | 24/04/2024 Finance
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT
10:35 | 24/04/2024 Finance
Your care
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance