Decision No. 113/2003/QĐ-TTg on approving the overall restructuring and modernization plan for state-owned enterprises under the Vietnam National Textile and Garment Corporation for the period 2003-2005.

Pursuant to …;

Regarding regarding the approval of the overall plan for restructuring and modernizing state-owned enterprises under the Vietnam Textile and Garment Corporation during the period 2003-2005

1. The contents and levels of expenditure from the state budget to support the implementation of initiatives as stipulated in Chapter II of this Circular are maximum levels. Based on the ability to balance resources, the Ministers of Ministries, Heads of central agencies, Provincial People's Councils, and centrally governed cities shall decide on specific contents and levels of expenditure for initiative activities that ensure appropriateness. under the Vietnam National Textile - Garment Corporation for the period from 2003 to 2005

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PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Based on Directive No. 01/2003/CT-TTg dated January 16, 2003 of the Government Chairman on continuing to promote the restructuring, modernization, development, and improvement of efficiency of state-owned enterprises;

Considering the proposal of the National Center for Natural Sciences and Technology,

Considering the proposal of the Vietnam Textile and Garment Corporation, opinions of the Ministries of Finance, Planning and Investment,, Home Affairs, Labor, Invalids and Social Affairs, and the Central Economic Commission,

DECISION:

Article 1. Approves the overall plan for restructuring and modernizing state-owned enterprises of the Vietnam Textile and Garment Corporation during the period 2003 to 2005 (annexed hereto).

Article 2. The Board of Directors of the Vietnam Textile and Garment Corporation shall be responsible for organizing and implementing the restructuring and modernization of state-owned enterprises under its direct management in accordance with the contents and schedule set forth above; directing Viet Tien Garment Company and Hanoi Textile-Garment Joint Stock Company to develop pilot projects on organizational structure and operation according to the holding company-subcompany model within the corporation's structure as stipulated currently. Any adjustments or supplements must be approved by the Prime Minister.

The Board of Directors of the Vietnam Textile and Garment Corporation shall develop a development project for the corporation following the corporate group economic model and submit it to the Prime Minister for approval.

Article 3. The Ministry of Industry, the Ministry of Finance, the Ministry of Planning and Investment, the Ministry of Home Affairs, the Ministry of Labor, Invalids and Social Affairs, and related agencies shall be responsible for coordinating with the Vietnam Textile and Garment Corporation in the implementation of this plan in accordance with current regulations.

The Steering Committee for Enterprise Reform and Development shall be responsible for urging, guiding, and monitoring the implementation of this Plan, and at the same time recommending solutions to the Prime Minister to address difficulties encountered during the implementation process.

Article 4. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Board of Directors of the Vietnam Textile and Garment Corporation and the heads of related agencies shall be responsible for enforcing this Decision./.

 

LIST

STATE-OWNED ENTERPRISES UNDER THE VIETNAM TEXTILE AND GARMENT CORPORATION TO BE RESTRUCTURED AND MODERNIZED IN THE PERIOD 2003-2005

 

 
(Annexed to Decision No. 113/2003/QĐ-TTg dated June 9, 2003 of the Government)

I. ENTERPRISES WHERE THE STATE CONTINUES TO HOLD 100% OF THE CAPITAL AND MAINTAINS THE ORIGINAL STAFFING UNTIL 2005, including 14 enterprises:

- Textile Company 8-3,

- Garment Company 10,

- Financial Company of Textile and Garment,

- Thang Loi Textile and Garment Company,

- Nha Trang Textile Company,

- Viet Thang Textile Company,

- Nam Dinh Textile Company,

- Than Cong Textile and Garment Company,

- Vietnam Cotton Company,

- Phong Phu Textile Company,

- Nha Be Garment Company,

- Duc Giang Garment Company,

- Hoa Tho Textile and Garment Company,

Production and Service Textile and Garment Company.

II. STATE ENTERPRISES TRANSFORMING MANAGEMENT FORMS, including 02 enterprises:

- Viet Tien Garment Company and Hanoi Textile-Garment Joint Stock Company will pilot operations under the holding company-subcompany model within the corporation's structure - to be implemented in 2003.

III. ENTERPRISES IMPLEMENTING STOCK OWNERSHIP REFORM:

1. State-owned enterprises implementing stock ownership reform where the State retains controlling shares, including 19 enterprises:

a) To be implemented in 2003:

- Gia Lam Textile Machinery Company,

- Thang Long Garment Company,

- Nam Dinh Garment Company.

b) To be implemented in 2004:

- Dong Xuan Knitting Company,

- Dong Nam Textile Company,

- Chien Thang Garment Company,

Dap Cau Garment Company,

- Vietnam Wool Company,

- Hung Yen Garment Company.

c) To be implemented in 2005:

Dong A Textile and Garment Company,

- Hanoi Industrial Fabric Textile Company,

- Hue Textile and Garment Company,

- Nam Dinh Silk Textile Company,

- Vinh Phu Textile Company,

- Phuoc Long Textile Company,

- Da Nang Textile and Garment Production and Export-Import Company,

- Phuong Dong Garment Company,

- Tra Ly Rush Company,

- Dong Phuong Knitting Company.

2. State-owned enterprises implementing stock ownership reform where the State holds less than 50% of the registered capital, including 03 enterprises:

a) To be implemented in 2003:

- Hung Yen Textile Machinery Company.

b) To be implemented in 2005:

- Ninh Binh Export Garment Company,

- Nam Dinh Textile Machinery Company.

3. Parts of state-owned enterprises implementing stock ownership reform where the State retains controlling shares:

- Buon Ma Thuot Branch of the Cotton Company - to be implemented in 2003.

4. Parts of state-owned enterprises implementing stock ownership reform where the State holds less than 50% of the registered capital, including 08 parts:

a) To be implemented in 2003:

- Ha Dong Wool Mill of Vietnam Wool Company,

- Factory 2 of Nha Be Garment Company,

- Factory 10 of Nha Be Garment Company,

- Viet Ha Garment Factory of Viet Tien Garment Company.

b) To be implemented in 2004:

- Bien Hoa Wool Mill of Vietnam Wool Company.

c) To be implemented in 2005:

- Khau Thread Mill of Phong Phu Textile Company,

- Vinh Thinh Wool Mill of Vietnam Wool Company,

- Phuc Thinh Wool Mill of Vietnam Wool Company.

IV. ENTERPRISES IMPLEMENTING MERGERS:

a) To be implemented in 2003: merging Nam Dinh Blanket Weaving Mill of Vietnam Wool Company into Nam Dinh Textile Company.

b) To be implemented in 2004: merging Thu Duc Textile Machinery Company into Viet Tien Garment Company.

c) To be implemented in 2005:

- Merging Loan Hoang Thi Knitting Mill into Hanoi Textile-Garment Joint Stock Company.