Vietnam’s VNPT is all set to spend $1 billion on Mergers and Acquisitions.
The Viet Nam Posts and Telecommunications Group (VNPT), the country’s largest telecom operator, plans to spend US$1 billion on mergers and acquisitions (M&A) in technology enterprises.
Tran Manh Hung, VNPT’s chairman of the member’s board, has said that the group is needed to focus on Merger & Acquisition activities in the next two to three years to be competitive globally in the future.
Hung also mentioned that there should be support from the Committee for State Capital Management (CSCM) in VNPT’s implementation of M&A deals. M&A was one of the solutions helping VNPT realise its strategy of expanding to international markets quickly.
CSCM is responsible for managing State capital at enterprises where the State holds a 100 per cent stake and at joint stock companies and limited liability companies with multiple members where the State has invested its capital. VNPT is among 19 State-owned economic groups and corporations managed by the CSCM.
Next year, VNPT will transform the Group’s growth model towards improving labour productivity and enhancing competitiveness. At the same time, the company will be developing a business model in accordance with digital transformation.
VNPT will also promote the StreamNet project, a joint venture between VNPT and Myanmar’s Elite Telecom Public Co Ltd, launched in October 2017. The group will focus on increasing the number of subscribers and promoting digital services.
At the same time, it will complete the E-Office project for the Lao Ministry of Posts and Telematics, bringing E-Office solutions into the operation of ministries, departments, sectors as well as implement the provision of IT services in Laos.
Next year the company will also promote its research and investment in ‘Fibre to the x’ (FTTx), the most modern broadband technology available, in some potential markets including Indonesia, Nepal, Bangladesh and the Philippines.