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Vietnam Post and Telecommunications Corporation (VNPT) plans to invest $1 billion in M&A-related activities over the next two to three years as part of its rapid expansion strategy in the international market.
According to the Vietnam News Agency, the state-owned operator believes that focusing on mergers and acquisitions is necessary to ensure its global competitiveness.
The operator is calling for stronger support from the National Capital Management Committee (CSCM), the government agency responsible for managing state-owned corporate capital, including giving the VNPT board more M&A activity.
According to reports, VNPT's goal in 2019 is to increase revenue by 7%-9%, while profits increase by 10%-15%.
The operator plans to transform its business model to embrace digital transformation and plans to explore fiber-based broadband services in potential markets such as Indonesia, Nepal, Bangladesh and the Philippines.
VNPT also plans to focus on increasing the size of its joint ventures in Myanmar.