1Telecoms Industry Set for Sector Shake UpTelecommunications companies will be restructured this year to ensure that there...
2Meanwhile, many companies - such as Viettel Group and Viet Nam Posts andTelecommunications Group - reported huge profits ...
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Telecoms industry set for sector shake up

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Telecoms industry set for sector shake up

  1. 1. 1Telecoms Industry Set for Sector Shake UpTelecommunications companies will be restructured this year to ensure that there are onlythree or four healthy companies in the market, in accordance with a plan approved by thePrime Minister, said Minister of Information and Communications -Nguyen Bac Son.Specific restructuring measures include creating favorable conditions for mergers andacquisitions, revoking licenses and restructuring inefficient companies.The ministry also plans to strengthen its role as owner-representative in State-ownedenterprises while simultaneously helping enterprises control their own production.Telecommunications companies will not be allowed to invest in non-core business linesto ensure efficient operations.According to the minister, the telecommunications market of Viet Nam saw hugechanges last year after a 10-year period of "peaceful" development.Due to fierce competition, some enterprises were forced to leave the market, such asEVNTelecom, which merged with Viettel, and others saw their licences revoked.However, Minister Nguyen Bac Son said, these changes complied with the industrysdevelopment plans to 2020.
  2. 2. 2Meanwhile, many companies - such as Viettel Group and Viet Nam Posts andTelecommunications Group - reported huge profits last year.The information and technology industry also saw improvements, Minister Nguyen BacSon said, saying export turnover of computers, electronics, phones and componentsreached more than US$18 billion last year.The ministry plans to tighten management of information on the Internet, as well asonline games and unregistered SIM cards, to create a healthier and more reliable Internetand telecommunications market for users and promote sustainable development, he said.Source: Vietnamnews.vn (02/2013)

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