Home Economy

MobiFone transformed into a corporation

Nov 19th at 10:10
19-11-2014 10:10:14+07:00

MobiFone transformed into a corporation

Prime Minister Nguyen Tan Dung has agreed with the proposal of the Ministry of Information and Communications to transform MobiFone One Member Company Ltd into a corporation.

The ministry will be responsible for carrying out the corporation's equitisation in accordance with current regulations and with a prime ministerial approval of the restructuring plan for Vietnam Post and Telecommunications Corporation.

MobiFone was detached from the State-run Viet Nam Posts and Telecommunications Group (VNPT) and placed under the MIC management last July following a prime ministerial decision to restructure the VNPT. The company has a charter capital of VND12.6 trillion (US$600 million).

The HCM City Securities Company then valued MobiFone at about $3.4 billion and projected this to rise to more than $4 billion if the operator's revenues and profits continued to increase after the separation.

MobiFone is one of a few enterprises that have generated the largest corporate tax revenues in Viet Nam for many years and has achieved about 80 per cent of its annual business targets in the first nine months of 2014.

bizhub

MOST READ

NEWS SAME CATEGORY

Italian business mission to visit VN
ECONOMY Nov 19th at 10:09

Italian business mission to visit VN

A group of 100 Italian businesspeople will visit Viet Nam from November 24 to 26 to foster economic, political, social and cultural relations between the two...

Viettel's charter capital to double
ECONOMY Nov 19th at 10:08

Viettel's charter capital to double

The charter capital of Viettel, the military telecommunications company, will be increased from VND50 trillion (US$2.38 billion) to VND100 trillion ($4.76 billion).

Nam Dinh calls for $4b in investments
ECONOMY Nov 19th at 10:07

Nam Dinh calls for $4b in investments

The northern province of Nam Dinh is seeking investments of more than US$4 billion in 21 key projects, according to the province's Investment Promotion and Business...

Consumer confidence keeps climbing
ECONOMY Nov 19th at 10:07

Consumer confidence keeps climbing

Consumer confidence in Viet Nam gained further momentum in the third quarter, increasing by four points from Q2 according to survey results released last week by...

Branding key to export growth, experts advise
ECONOMY Nov 19th at 10:05

Branding key to export growth, experts advise

It's becoming urgent for businesses to invest in branding to help them penetrate and expand their markets better during global integration.

Vietnamese consumers’ optimism on economy on the rise: report
ECONOMY Nov 18th at 14:30

Vietnamese consumers’ optimism on economy on the rise: report

Optimism on economic prospect among Vietnamese consumers continued to rise for the third quarter in a row, according to a recently released report of market...

Vietnam electronics stores hurt by warranty cons
ECONOMY Nov 18th at 14:26

Vietnam electronics stores hurt by warranty cons

Scammers disguised as technicians from popular electronics stores in Vietnam have become a headache for store operators, as many of their customers have been duped...

Vietnam minister says not to worry about local retailers losing at home
ECONOMY Nov 18th at 14:22

Vietnam minister says not to worry about local retailers losing at home

Vietnamese retail companies are still developing well and there are no worries they will lose to foreign rivals on their home turf, Minister of Trade Vu Huy Hoang...

MPI suggests raising public debt ceiling to 68% of GDP
ECONOMY Nov 18th at 14:21

MPI suggests raising public debt ceiling to 68% of GDP

The Ministry of Planning and Investment (MPI) has suggested raising the the average public debt for 2014-2020 to 68 percent of GDP from the current level set by the...

Full steam ahead for foreign investment in Vietnam
ECONOMY Nov 18th at 14:19

Full steam ahead for foreign investment in Vietnam

The Vietnam government has done its best to create a favorable investment environment and in the 10 months leading up to November the nation’s economy is like a...

Read More

MOST READ

Back To Top