Prime Minister agreed for MobiFone become a telecommunications corporation

November 19, 2014 | 11:09 am GMT+7

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


The ministry will be responsible for carrying out the corporation"s equitisation in accordance with Decision No. 888/QD-TTg dated June, 10th, 2014 of Prime Minister concerning the restructuring plan for Viet Nam Post and Telecommunications Corporation for the period 2011-2015.

According to Viet Nam Telecommunications Development  Plan to the year 2020, MobiFone will be directed to become one of strong corporations, that State is a controlling shareholder, in Viet Nam telecom market. This is an objective requirement, at the same time, as a prerequisite for the formation of the telecommunications market with three major providers: Vinaphone, Viettel and MobiFone.

MobiFone meets conditions and criteria specified in Decree No. 69/2014/ND-CP dated July, 15th,2014 of the Government on the conditions of establishing economic and State corporations on the effectiveness of business, level of financial security, human resources and labor productivity, size of the charter capital, revenue, profit, contribution to the state budget.

At present, among the 1,000 largest corporations tax to the state budget,  MobiFone is in the top 10, and No. 2 after Viettel. MobiFone becomes a corporation will increase the value of MobiFone when equitisation.