The MobiFone Telecommunications Corporation targeted total revenue of VND35.8 trillion (US$1.59 billion) in 2016, 10 per cent higher than that of 2015, and a profit of VND5.2 trillion ($231 million).

"Mobifone has surpassed all of its production and business targets in 2015 as well as confirming its position as an independent network provider only a year after separating from the State-owned Viet Nam Posts and Telecommunications (VNPT)," Nguyen Bac Son, minister of information and communication said.

Son told the meeting held to review Mobifone activities in 2015 in Ha Noi yesterday that the corporation's independent position, together with VNPT and Viettel, has contributed to build a healthy, equal and sustainable telecommunication market in Viet Nam.

He said Mobifone has faced challenges and fierce competition in 2015. However, it has gradually completed its administrative processes as per international standards to achieve impressive results.

The corporation's revenue in 2015 reached VND36.9 trillion, posting a year-on-year increase of 8.29 per cent, while profits rose 1.1 per cent from last year to VND7.4 trillion. It contributed VND6.9 trillion to the State budget, or 28 per cent higher from last year.

The minister said Prime Minister (PM) Nguyen Tan Dung had approved Mobifone's development and investment strategy in the 2016 to 2020 period.

After the PM's approval, Mobifone has been active in seeking new opportunities in television and retail.

He said Mobifone has completed clarifying of its business value and building privatisation plan.

The plan would be submitted to the PM for approval in the next few days, he added.

Mobifone chairman Le Nam Tra said speed would be the key word as well as the main momentum for the corporation's development in 2016 in four sectors of mobiphone, which are television, retail, added-value services and multimedia.

It would also continue to restructure its process and participation in new playgrounds.

"Privatisation, 4G, television, and retail, in addition to Internet of Things would be opportunities for Mobifone," Tra said.

VNPT develops four pillars

The minister also told the VNPT at its meeting held to review last year's results here on Thursday that the group should focus on four pillars of infrastructure, business, services and industry in 2016.

He said that VNPT completed two big tasks of meeting all targets in 2015 and restructuring the project.

VNPT's three new corporations including VNPT – Vinaphone, VNPT – Media and VNPT – Net were established in 2015, forming a value chain from content and infrastructure to customers.

"VNPT has seen the biggest change in 2015 as it officially operated a three-tier model including business, infrastructure and services," Tran Manh Hung, VNPT's chairman said.

VNS