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Telecoms industry set for sector shake up

07/02/2013 10:31 AM Font weight
(Mic.gov.vn) - 
Telecommunications companies will be restructured this year to ensure that there are only three or four healthy companies in the market, in accordance with a plan approved by the Prime Minister, said Minister of Information and Communications Nguyen Bac Son.


Illustration photo (Source: Vietnamnews.vn)

Specific restructuring measures include creating favourable conditions for mergers and acquisitions, revoking licences and restructuring inefficient companies.

The ministry also plans to strengthen its role as owner-representative in State-owned enterprises while simultaneously helping enterprises control their own production. Telecommunications companies will not be allowed to invest in non-core business lines to ensure efficient operations.

According to the minister, the telecommunications market of Viet Nam saw huge changes last year after a 10-year period of "peaceful" development.

Due to fierce competition, some enterprises were forced to leave the market, such as EVNTelecom, which merged with Viettel, and others saw their licences revoked. However, Minister Nguyen Bac Son said, these changes complied with the industry"s development plans to 2020.

Meanwhile, many companies - such as Viettel Group and Viet Nam Posts and Telecommunications Group - reported huge profits last year.

The information and technology industry also saw improvements, Minister Nguyen Bac Son said, saying export turnover of computers, electronics, phones and components reached more than US$18 billion last year.

The ministry plans to tighten management of information on the Internet, as well as online games and unregistered SIM cards, to create a healthier and more reliable Internet and telecommunications market for users and promote sustainable development, he said.

Source: Vietnamnews.vn

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