The Vietnam Post Corporation (VietnamPost) has split from the Vietnam Post and Telecommunications Group (VNPT) after its ownership was transferred to the Ministry of Information and Communications (MIC).
VietnamPost was a former affiliate of VNPT and will now operate as an independent corporation from January 1, 2013.
The corporation currently has a large workforce of 42,000 employees, of which 24,000 are on long-term contracts.
According to Vietnam Post Chairman Do Ngoc Binh, the two corporations would still co-operation closely despite the split, saying that the widespread network of Vietnam Post would help VNPT deliver better services to its customers.
MIC Minister Nguyen Bac Son said that the division is an appropriate move to meet new requirements for development when the Government is pushing through the restructuring of State-owned enterprises.
Vietnam Post aims to earn a profit of VND45.5 billion (US$2.2 million) in 2013, up 7% from 2012.