Decision No. 04/2007/QĐ-BCN on the establishment of the Hanoi Textile and Garment Corporation under the Vietnam National Textile and Garment Group

Pursuant to …;

On the establishment of Hanoi Textile and Garment Corporation

 under Vietnam National Textile and Garment Group

_______________

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Document No. 7599/VPCP-ĐMDN dated December 29, 2006 of the Government Office on the restructuring of companies: Phong Phu Textile Company, Hanoi Textile and Garment Company, Viet Tien Garment Company.

Considering the proposal of Vietnam National Textile and Garment Group at Report No. 28/TĐDM-TCLĐ dated January 9, 2007 and the project on the establishment of Hanoi Textile and Garment Corporation;

At the proposal of the Director of the Department of Organization and Cadres,

DECISION:

Article 1. Establish Hanoi Textile and Garment Corporation based on the restructuring of Hanoi Textile and Garment Company under Vietnam National Textile and Garment Group.

Hanoi Textile and Garment Corporation (hereinafter referred to as the Corporation) operates according to the holding company-subcompany model within the structure of Vietnam National Textile and Garment Group.

Article 2. Hanoi Textile and Garment Corporation is a state-owned enterprise operating under the Law on State-Owned Enterprises, having legal personality, seal, emblem, charter of organization and operation, bank account, and state treasury account, being self-governing in business activities, and inheriting all legal rights and obligations of Hanoi Textile and Garment Company as stipulated by law.

1. Vietnamese name: Hanoi Textile and Garment Corporation;

2. International trade name: HANOI TEXTILEX AND GARMENT CORPORATION;

3. Abbreviation: HANOSIMEX;

4. Head office: No. 1 Mai Dong, Hoang Mai District, Hanoi City;

5. Business fields of the Corporation:

a) Production, trading, import and export of textile and garment products, raw materials, auxiliary materials, equipment, spare parts for the textile and garment industry;

b) Trading, import and export of cotton, yarn, auxiliary materials, chemicals, dyes, equipment, machinery for the textile and garment industry, electrical materials, electronic materials, plastic, rubber; consumer goods;

c) Warehousing, leasing of offices, factories, investment and operation of infrastructure;

d) Operation of restaurants, hotels, supermarkets, entertainment services;

đ) Training services, training of textile and garment workers; scientific and technological services, repair and maintenance of equipment;

e) Installation of industrial equipment, refrigeration systems, auxiliary equipment for the textile and garment industry;

g) Investment and financial operations;

h) Other businesses as prescribed by law.

6. Registered capital of the Corporation at June 30, 2006 was 151,733,083,397 VND (One hundred fifty-one billion, seven hundred thirty-three million, eighty-three thousand, three hundred ninety-seven dong);

7. Management structure of the Corporation: General Director, Deputy General Directors, Executive Director, Chief Accountant, and supporting staff;

8. Rights and obligations of the Corporation; organization and management of the Corporation; relations between the Corporation and its subsidiaries and associated companies; relations between the Corporation and Vietnam National Textile and Garment Group and competent state agencies are regulated in the Charter of Organization and Operation of the Corporation, the Charter of Organization and Operation of Vietnam National Textile and Garment Group, and current laws.

Article 3. Subsidiaries and associated companies:

1. Subsidiaries are joint-stock companies or limited liability companies in which the Corporation holds controlling shares or contributions.

2. Associated companies are joint-stock companies or limited liability companies in which the Corporation does not hold controlling shares or contributions.

(List of subsidiaries and associated companies in the attached appendix).

Article 4. The Board of Directors of Vietnam National Textile and Garment Group shall approve the Charter of Organization and Operation of Hanoi Textile and Garment Corporation and direct the implementation of the shareholding reform of the parent company - Hanoi Textile and Garment Corporation in 2007 in accordance with the provisions of the law.

Article 5. This Decision takes effect 15 days after its publication in the Official Gazette.

The Heads of the Ministry's Office, Inspectorate, Departments, and Bureaus, the Board of Directors and General Director of Vietnam National Textile and Garment Group, General Director of Hanoi Textile and Garment Corporation, General Director of Hanoi Textile and Garment Corporation, and Heads of related units are responsible for implementing this Decision./.