Telecom giants must develop equitisation plans: MIC

The three telecommunication groups under direct management of the Information and Communications Ministry (MIC) will have to develop their equitisation plans in 2017, according to Minister Truong Minh Tuan.

The three groups are the Vietnam Post and Telecommunications Group (VNPT), Vietnam Multimedia Corporation (VTC) and MobiFone Telecommunications Corporation (MobiFone).

The equitisation of the three telecom giants has to be speeded up in accordance with a December 2016 decision by the Prime Minister on criteria to differentiate State-owned enterprises (SOEs) and State-invested companies, he added, speaking at a meeting on January 23.

Along with the decision, the PM also published the list of 240 SOEs that have to be equitised by 2020. On the list of 240 SOEs to be equitised, VNPT and MobiFone are the two among 27 firms in which the Government will hold 50-65 percent ownership. VTC is among 106 SOEs in which the State’s stake will be reduced to below 50 percent.
Among the rest of the 240 SOEs, the State’s ownership will remain 100 percent in 103 SOEs while its stake will stay over 65 percent in four others.
VNPT in 2016 recorded revenues of VND135 trillion (US$6.09 billion), up 7 percent from 2015, whereas income rose by 20 percent to VND4.16 trillion.
MobiFone reported revenues of VND38.4 trillion, up 14.5 percent from 2015 with 19 million subscriptions. VTC surpassed their goal for 2016, with total revenues reaching VND5.2 trillion, up 39 percent compared to 2015.
The Government has enhanced divestment from SOEs, ranging from breweries to dairy producers. Those deals have attracted intense attention from foreign investors given that Vietnam is one of the fastest growing economies due to its young population and rapidly increasing export turnover, the Wall Street Journal reported last week.
In the past 15 years the number of SOEs has fallen from around 6,000 to over 700. Between 2011 and 2015, almost 600 SOEs were equitised, 96 percent of the targeted number.
VNA

Other News

Vietnam targets at least 10 large strategic technology firms by 2030

Vietnam targets at least 10 large strategic technology firms by 2030

Deputy Prime Minister Ho Quoc Dung has signed a decision approving a plan to develop large domestic strategic technology enterprises in the 2026–2030 period, aimed at advancing digital infrastructure, digital human resources, digital data, strategic technologies and cybersecurity.

Protecting users crucial in building digital trust: Experts

Protecting users crucial in building digital trust: Experts

In Vietnam, digital transformation in the finance and banking sector is accelerating cashless payments, expanding access to financial services, improving market transparency and supporting economic growth and macroeconomic management.

Fostering skilled workforce for innovation era: experts

Fostering skilled workforce for innovation era: experts

Experts said close coordination among State management agencies, research institutes, universities, and businesses will improve training quality and serve the dual goals of quality education and practical research application.

Startup forum bridges Silicon Valley and local innovation ecosystem

Startup forum bridges Silicon Valley and local innovation ecosystem

The University of Economics Ho Chi Minh City (UEH), Saigon Asset Management (SAM), and Plug and Play Tech Centre co-hosted the “From Vietnam to Silicon Valley” forum, exploring AI innovation, venture capital, and pathways to integrate Vietnam’s startup ecosystem with Silicon Valley and global markets.

Experts call for stronger action against fake news online

Experts call for stronger action against fake news online

Experts have warned that fake news, misinformation and harmful online content are increasingly shaping public perceptions, particularly among young people, and stressed the need for stronger legal safeguards, technology tools and wider dissemination of credible information to tackle the problem effectively.

Protecting digital future in post-quantum, AI era

Protecting digital future in post-quantum, AI era

Participants highlighted the importance of building a proactive, synchronised and sustainable national cybersecurity ecosystem through closer cooperation among regulators, technology firms, research institutions and cybersecurity experts.

Vietnam attends SAHA 2026 defence, aerospace exhibition in Türkiye

Vietnam attends SAHA 2026 defence, aerospace exhibition in Türkiye

Vietnam’s participation in SAHA 2026 International Defence & Aerospace Exhibition in Istanbul reflects the country’s consistent policy of enhancing international defence integration and promoting defence industry cooperation towards self-reliance, self-strengthening, modernisation and dual-use development.

SK Group partners to build AI ecosystem in Vietnam

SK Group partners to build AI ecosystem in Vietnam

SK Innovation and SK Telecom signed MoUs with Nghe An province and the National Innovation Centre of Vietnam to advance AI ecosystem development and support the country’s long-term growth strategy.

Vietnam Research Excellence Fellowship for 2026-2030 approved

Vietnam Research Excellence Fellowship for 2026-2030 approved

Under the Vietnam Research Excellence Fellowship (VREF) for the 2026–2030 period, PhD students are identified as a core research force directly contributing to breakthroughs in sci-tech and innovation. Investing in top-tier doctoral candidates is more than workforce development, but a high-stakes strategic bet to forge a cohort of world-class scientists and technologists who can power Vietnam’s long-term economic ambitions.