The Vietnam Post and Telecommunications Group (VNPT) will re-arrange the organisation of its sub-units in 2018-2020.

The Vietnam Post and Telecommunications Group (VNPT) will re-arrange the organisation of its sub-units in 2018-2020.— Photo zing.vn

The State-owned telecommunications group will merge the Post Rehabilitation Hospital in Hai Phong into the Hospital of Post and Telecommunications in Ha Noi.

In addition, VNPT will launch the new firm VNPT Information Technology Company (VNPT-IT), functioning as a dependent accounting unit whose accounting records must be submitted to VNPT without making any tax declarations or payments.

The other sub-units that will have the same model of operation are VNPT Network Corporation (VNPT-Net), VNPT branches in 63 cities and provinces, VNPT Research and Development Centre and VNPT’s three training centres.

VNPT will also restructure the business operation of the VNPT International and launch the new subsidiary VNPT Global Investment Company Limited, which is fully owned by VNPT.

The State-funded company will continue operating its VNPT Vinaphone Corporation as an independent accounting unit while shaking up some affiliates to improve their efficiency, such as merging the Post Materials Joint Stock Company into Cokyvina Joint Stock Company, merging the KASATI Joint Stock Company into the Post Telecommunications and Information Joint Stock Company (CT-IN), increasing its ownership in CT-IN to more than 35 per cent of the capital and dissolving its representative office in HCM City.

The subsidiaries of VNPT in the post-restructuring period will include VNPT Vinaphone Corporation, VNPT Media Corporation (VNPT Media), VNPT Global Invesment (VNPT Global), VNPT Technology Joint Stock Company, CT-IN, the Post Telecommunications Materials Joint Stock Company and VNPT Global HK – which will be transferred to VNPT Global after the latter is founded.

Its affiliates are COKYVINA Joint Stock Company, the Technology and Media Development Joint Stock Company, VNPT Project Management Company (VNPT PMC), the Vietnam Yellow Pages Joint Stock Company, Post Telecommunications Print Services Joint Stock Company and Global Data Services Joint Stock Company.

VNPT’s public service units are the Hospital of Post and Telecommunications and the Post Telecommunications General Hospital.

VNPT will also improve the quality of corporate governance that and improvement of financial and accounting management.

The group will also improve the monitoring of the use of its assets, capital and ensure cash flow is balanced, save costs and track production costs to cut prices for its products and services.

VNPT will also improve its use of labour and renovate its payroll while focusing on better human resource training, and apply modern technologies to improve business efficiency.

VNPT targets annual revenue growth rate of at least 6.5 per cent and annual profit growth of more than 10.8 per cent by 2020. The figures for 2021 and 2025 are 7.7 per cent and 11 per cent, respectively.

After being restructured, VNPT will remain a State-owned limited liability company that sells, imports and exports post, telecommunications, multimedia and other digital products and services. — VNS