PRIME MINISTER
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|
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom -
Happiness
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No. 2129/QD-TTg
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Hanoi, December 29, 2017
|
DECISION
ON APPROVAL FOR PLAN TO RESTRUCTURE VIETNAM POSTS AND
TELECOMMUNICATIONS GROUP DURING 2018 - 2020
THE PRIME MINISTER
Pursuant to the Law on Government Organization dated June 19, 2015;
Pursuant to
Government’s Decree No. 25/2016/ND-CP dated April 06, 2016 on Charter for organizational structure
and operation of the Vietnam Posts and Telecommunications Group;
Pursuant to the
Decision No. 58/2016/QD-TTg dated December 28, 2016 of the Prime Minister on criteria
for classification of wholly state-owned enterprises, partially state-owned enterprises
and list of state-owned enterprises undergoing restructuring in 2016 - 2020;
Pursuant to
the Decision No. 707/QD-TTg dated May 25, 2017 of the Prime Minister on approval for the Project on “restructuring of
State-owned enterprises, particularly state-owned economic groups and
corporations during 2016 - 2020”;
At the request of the Minister of Information and Communications and Council Member of the Vietnam Posts and
Telecommunications Group,
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Article
1. The plan to restructure Vietnam Posts and
Telecommunications Group during 2018 - 2020 is approved. To be specific:
I.
OBJECTIVES
- Develop the Vietnam
Posts and
Telecommunications Group (VNPT) into a strong,
dynamic, efficient and modern state-owned economic group that can reach a high level
of competitiveness in both domestic and foreign markets; well perform public
duties; contribute to the socio-economic development and national defense and
security assurance; play a key role in developing Vietnam's telecommunications
and information technology in a quick, sustainable and competitive manner, and
promoting international integration.
- Restructure VNPT to develop it into a leading digital
service provider in Vietnam and a digital hub in Southeast Asia and Asia.
Gradually switch over from traditional telecommunication services to
telecommunications, information technology and digital services according to
the VNPT development strategy during 2017 - 2025.
- By 2020, achieve the average annual revenue growth of over 6.5% and average
annual profit growth of over 10.8%; during 2021 - 2025, achieve the average
annual revenue growth of over 7.7 % and average annual profit growth of over 11%. By 2022, the
return on equity is to be equal that of other enterprises in the same business
line.
II.
CONTENTS
1. Business lines
a) Main business lines
- Telecommunications, information technology, multimedia and
other digital products and services.
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- Research into,
development, manufacturing, trading in, export
and import of telecommunications, information
technology and multimedia equipment and products.
b) Relevant business
lines in direct service of main business lines:
- Financial
investment in telecommunications, information technology, multimedia and
other digital services.
- Advertising,
market research, organization of conferences, seminars and exhibitions related
to the main business lines; improvement and
provision of human resources for telecommunications,
information technology, multimedia and other digital services.
- Lease of existing buildings and land of VNPT.
2. The plan to restructure VNPT during 2018 - 2020
a) Establish VNPT -
Information Technology Company (VNPT-IT), a financially dependent unit of the
parent company - VNPT by restructuring departments and units responsible for
management, manufacturing and sale of information technology products and
services of VNPT and Telecommunications
Service Corporation (VNPT-Vinaphone) in order
to optimize human resources and avoid overlapping issues.
b) Merge the VNPT
Hospital of Nursing - Rehabilitation (in Hai Phong city) with the Hospital of
Post and Telecommunications (in Hanoi city). Exercise autonomy over the
Hospital of Post and Telecommunications (after merger) and General Hospital of
Post and Telecommunications (in Ho Chi Minh city) in accordance with
regulations of the Government’s Decree No. 16/2015/ND-CP dated
February 14, 2015 on exercise of autonomy by public service providers.
c) Restructure
international trading by VNPT International (VNPT - I) as follows:
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- Convert VNPT International
(VNPT-IT) (remained after merger) into a financially dependent unit to VNPT-Vinaphone for provision of international telecommunications services and satellite
services.
d) Consider establishing
VNPT Global Investment Single-Member Limited Liability Company (VNPT Global)
100% of charter capital of which is held by VNPT if conditions for investment
in international markets are met and the Parent Company - VNPT is equitized;
ensure effectiveness, conservation and development of state capital.
dd) Keep developing VNPT-Vinaphone into
a financially autonomous unit. During equitization, accounting mechanism of VNPT-Vinaphone shall be
applied to ensure effectiveness and prevent loss of state capital in
enterprises.
e) Improve effectiveness
and restructure the enterprises having VNPT’s stakes. To be specific:
- Transfer VNPT’s stakes in the enterprises, including (1)
VMG Media Joint Stock Company (VMG); (2) VNPT Electronic Payment Joint Stock
Company (VNPT EPAY), (3) National Payment Corporation of Vietnam (Napas), (4)
E-learning and E-entertainment Service Development Joint Stock Company (VDC-Net2E), (5)
Smart Media Joint Stock Company (SMJ) to the VNPT Media Corporation (VNPT-Media) to
form units responsible for research into, development and provision of digital,
value-added and media services and products.
- Transfer VNPT’s stakes in the enterprises, including (1)
VNPT Global Hong Kong Company Limited (VNPT G HK); (2) ACASIA-Malaysia company
(ACASIA); (3) ATH-Malaysia Company (ATH); (4) Stream Net Joint Venture (Myanmar) to the
VNPT Global (after establishment) to manage foreign investment and develop
VNPT’s telecommunications and information technology services and products in
foreign markets.
- Merge Post and Telecommunications Material Supply Joint
Stock Company (Potmasco) into Cokyvina Joint Stock Company according to regulations.
- Merge KASATI Joint Stock Company into Joint Stock Company
for Telecoms and Informatics (CT-IN) and increase the ratio of VNPT’s stakes in CT-IN to over 35%
of the charter capital according to regulations.
g) Dissolve VNPT’s
representative office in Ho Chi Minh city according to regulations.
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4. Organizational structure of VNPT after restructuring:
a) Parent Company - VNPT
which is a wholly state-owned single-member limited liability company.
b) Financially dependent
units:
- Network Infrastructure Corporation (VNPT-Net).
- VNPT
Information Technology Company (VNPT-IT).
- 63 Telecom provinces (VNPT- Provinces and cities)
- Center for
Development Research (VNPT - RD).
- VNPT Training
Center I, II, III.
c) Service providers:
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- General Hospital
of Post and Telecommunications.
d) Subsidiaries:
-
Telecommunications Service Corporation (VNPT - VinaPhone).
- VNPT Media Corporation (VNPT Media).
- VNPT Global, the establishment of which will be considered after the Parent Company - VNPT is equitized.
- Post and Telecommunications Industrial Technology Joint Stock Company (VNPT-Technology).
- Joint Stock Company for Telecoms and Informatics (CT-IN).
- Post and
Telecommunications Equipment Joint Stock Company (POSTEF).
- VNPT Global Hong Kong Company Limited, whose capital is
expected to be transferred to VNPT Global after establishment.
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- COKYVINA Joint Stock Company
- Technology and
Media Investment Development Joint Stock
Company (VNTT)
- VNPT Property
and Management Joint Stock Company (VNPT PMC)
- Vietnam
Telephone Directory and Yellow Pages Joint Stock Company (VNYP)
- Post and
Telecommunications and Printing Joint StocK Company (PTP)
- Technology and
Media Investment – Development Joint Stock
Company (NEO)
- Global Data
Service Joint Stock Company (GDS)
- ATH Malaysia Company, whose capital is expected to be transferred to VNPT Global after
establishment.
- ACASIA-Malaysia
Company, whose capital is
expected to be transferred to VNPT Global after establishment.
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a) Improving management
mechanism;
b) Consolidating
organizational structure;
c) Innovating and
improving financial management and accounting works; managing assets and
sources of funding; balancing cash flow. Practicing thrift, closely managing
expenses, reducing prices of products and services;
d) Managing and employing
workers in an effective manner; reforming pay policies; training and improving
quality of human resources;
dd) Applying modern
technology to improve effectiveness of VNPT’s business operation and
productivity;
e) Managing investment
projects to ensure their progress and effectiveness; carry out overall
assessment of business and outward investment plans to ensure effectiveness and
conservation of state capital in enterprises. Urgent actions against weak and
unprofitable projects and enterprises under the management of VNPT shall be
taken.
g) Carrying out internal
inspections and supervision; preventing corruption and waste.
6. Completed equitization of Parent Company - VNPT in 2019 in
accordance with regulations of the Prime Minister’s Official Dispatch No. 991/TTg-DMDN dated
July 10, 2017.
III.
IMPLEMENTATION
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2. The Ministry of Finance, Ministry of Planning and
Investment, Ministry of Home Affairs, Ministry of Labor, War Invalids and
Social Affairs shall, within their power, cooperate with the Ministry of Information and Communications in performing the tasks specified in Clause 1, Section III
of this Article.
3. According to the objectives specified in Section I of this
Article, the Member Council of VNPT shall:
a) disseminate
viewpoints, objectives and contents of the restructuring plan to achieve a high
level of consensus during the implementation to affiliates, officials and
employees of VNPT.
b) restructure affiliates
as prescribed in Clause 2, Section II of this Article within its power;
c) divest capital as
prescribed in Clause 3, Section II of
this Article.
d) improve the management
capability, effective operation and enterprise value as prescribed in Clause 5,
Section II of this Article.
dd) equitize the Parent
Company - VNPT as prescribed in Clause 6, Section II of this Article. During equitization,
submit the VNPT-Vinaphone's accounting
mechanism to the Ministry of Information and Communications, which will submit it to the Prime Minister for decision
to ensure effectiveness and prevent
loss of state capital in enterprises.
e) After the equitization
of the Parent Company - VNPT, formulate a plan for establishment of VNPT Global
100% of charter capital of which is held by VNPT by prudently making outward
investment projects to ensure effectiveness and conservation of state capital
in enterprises, and submit the plan to the competent authority.
g) submit quarterly
reports on implementation of the abovementioned plan to the Ministry of Information and Communications, Ministry of Finance and Steering Committee for Enterprise
Innovation and Development.
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Article
3. The Ministry of Information and Communications, Ministry of
Finance, Ministry of Planning and Investment, Ministry of Home Affairs,
Ministry of Labor, War Invalids and Social Affairs, head of the Steering
Committee for Enterprise Innovation and Development and the Member Council of
VNPT are responsible for the implementation of this Decision./.
PP. PRIME MINISTER
DEPUTY PRIME MINISTER
Vuong Dinh Hue
APPENDIX
CAPITAL DIVESTMENT PLAN DURING
2018 - 2020
(Enclosed with the Decision No. 2129/QD-TTg dated December 29,
2017)
No.
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Abbreviation
Book value
(million dong)
Year 2018
1
HACISCO Joint
Stock Company
HACISCO
38.160
2
Low Current - Telecom Joint Stock Company
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16.310
3
Post Hotel Joint Stock
Company Nha Trang City
P&T Hotel
7.467
4
Company
Construction & Development Service of Quang Nam Post and
Telecommunication
QTC
6.350
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Telecommunication
Technology Joint Stock Company
VITECO
15.612
6
Telecommunication
Technical Service Joint Stock Company
TST
48.000
7
Post And
Telecommunication Services Construction Work Joint-Stock Company
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3.600
8
Danang
Telecommunication and Informatics Design Joint Stock Company
DNTD
900
9
Aviation
Information and Telecomunications Joint Stock Company
AITS
13.200
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Telecommunication
Project Construction Development Joint Stock
TELCOM
24.500
11
Hai Phong Postal
Construction Joint Stock Company
HPPC
3.164
12
Post and
Telecommunication Finance Company Limited
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500.000
13
Vietnam
Investment Fund
BVIM
2.100
14
Vietnam
Maritime Commercial Joint Stock Bank
MSB
579.907
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Vietnam Post
and Telecommunication Land Joint Stock Company
VNPT LAND
140.000
16
Saigon Posts
and Telecommunications Service Joint-Stock Corporation
SPT
68.430
17
Central Post
Construction and Installation Joint Stock Company
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1.500
18
Can Tho Telecommunication Construction and
Investment Joint-Stock Company
CTC
1.500
19
Dong Thap Telecommunication Construction and Investment
Joint-Stock Company
DTC
4.400
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Hanoi Post and Telecommunications
Development Investment Consultant Joint Stock Company
HADIC
1.200
21
North central
of Vietnam Telecommunication Devolopment Joint Stock Company (Quang Tri Telecommunication
Devolopment Joint Stock Company)
CTD
1.440
22
Vung Tau Post and Telecommunication Construction and Investment
Joint-Stock Company
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2.000
23
Hue Post &
Telecommunication Construction & Installation Joint Stock Company
HUTIC
1.500
24
CADICO Joint Stock Company
CADICO
2.940
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Bac Lieu
Telecommunications Construction and Installation Investment Joint Stock
Company
TIC
1.680
26
Kien Giang Post
Construction & Installation Joint Stock Company
KAS
2.000
27
JSC Commercial Service
Telecommunication and Construction of Da Lat
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2.200
28
Gia Lai Post
Construction Installation Development Joint Stock Company
GPT
1.380
29
Ca Mau
Construction & Installation Joint Stock Company
CTAS JSC
2.600
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Saigon
Securities Investment Fund A2
SFA2
6.930
31
Vietnam Growth
Investment Fund
VF2
2.690
32
Telecommunications
Equipment Limited Liability Company
...
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93.028
33
ANSV Telecommunications Equipment Limited Liability Company
ANSV
96.261
34
P & T
Material Supply Joint Stock Company
POTMASCO
9.180
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KASATI Joint Stock Company
KASATI
13.475
36
VKX Limited
Liability Company
VKX
48.596
37
Telecom Joint
Stock Company
...
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156.000
38
VTC Telecommunications
Joint Stock Company
VTC
45.347
39
Posts and
Telecommunications Construction Material Joint- Stock Company
PCM
40.000
...
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VFT
Telecommunication Systems Joint Stock Company
VFT
35.839
41
VINECO Telecommunication
Systems Joint Stock Company
VINECO
40.276
Year 2020 (after equitization)
42
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LVCC
22180,125
43
Fiber Optic Cables One
Member Limited Company (equitized, listed and divested)
FOCAL
50000
44
Vietnam Optical
Fiber Cable Joint Stock Company
VINA-OFC
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45
Postal Material
Joint Stock Company/TELVINA Telecommunications Joint Stock Company
PMC/Telvina
50000