VNPT has cleared obstacles to restructure itself.
According to Circular 10/2012/TT-BTTTT just issued by Ministry of Information and Communications (MIC) that will take effect from August 31, 2012, VNPT must restructure its capital contributions in VinaPhone and MobiFone.
According to this circular, a company which holds more than 20 per cent of a telecom company’s stakes will not be allowed to own more than 20 per cent of stakes in another telecom company.
At present, VNPT holds 100 per cent stakes of Vinaphone and Mobiphone.
Under Decision 929/QD-TTg, the MIC will assess the organisational measures then design restructuring plans for state-owned enterprises to be submitted to the prime minister for approval within 2012’s third quarter.
The government will own more than 75 per cent of charter capital of state-owned corporations and groups which operate in telecom network infrastructure supplying. The restructuring of telecom corporations and groups such as VNPT and Vietnam Multimedia Corporation (VTC) was of prime importance, MIC Minister Nguyen Bac Son said.
VNPT appointed Nguyen Van Hai, former director of VASC Software and Media Company, as new director of Vietnam Data Communication Company (VDC). This move was considered as the first step for the new VDC operating model’s human resource preparation.
Additionally, Vietnam Telecom International (VTI) has officially been renamed as VNPT-International (VNPT-I). VNPT used to propose an advanced operating model based on re-arrangement of its members’ operating models.
Specifically, VNPT expected to establish VNPT-Networks based on re-organisation of Vietnam Telecom National and part of VTI, set up VNPT-Media from re-arrangement of Vietnam Data Communication Company (VDC), VASC and VNPT Information and Public Relations. Also, 63 VNPT provincial and urban branches nationwide might become 63 one-member companies.