Decision No. 116/2005/QD-TTg of the Government approves the adjustment of the plan for restructuring and modernizing certain state-owned enterprises directly under the People's Committee of Hoa Binh Province. The companies will be converted into limited liability companies with one member, listed on the stock market, or dissolved in 2005 and 2006.
Scope of application
Hoa Binh Water Supply and Drainage Company, Hoa Binh Housing Development and Urban Company, Thanh Cong Construction Material Production Company, Hoa Binh Printing Company 26/3, Industrial Tree Company, Lac Son Tea Factory.
Key points
- Hoa Binh Water Supply and Drainage Company and Hoa Binh Housing Development and Urban Company will be converted into limited liability companies with one member in 2005.
- Thanh Cong Construction Material Production Company and Hoa Binh Printing Company 26/3 will be listed on the stock market, with the State holding less than 50% of the charter capital or not holding any shares in 2006.
- Industrial Tree Company and Lac Son Tea Factory will be dissolved in 2005.
- The Chairman of the People's Committee of Hoa Binh Province directs the implementation of restructuring and modernization according to Decision No. 51/QD-TTg dated April 15, 2003, and this Decision.
- This Decision takes effect 15 days from the date of publication in the Official Gazette.
🌐 Social impact of this document
- State-owned enterprises in Hoa Binh will be restructured and modernized towards improving management and enhancing operational efficiency.
- Converting Hoa Binh Water Supply and Drainage Company and Hoa Binh Housing Development and Urban Company into limited liability companies with one member will improve the ownership structure of capital.
- Listing Thanh Cong Construction Material Production Company and Hoa Binh Printing Company 26/3 on the stock market will facilitate access to capital from the market and enhance operational efficiency.
- Dissolving Industrial Tree Company and Lac Son Tea Factory may lead to job losses, affecting workers.
❓ Frequently asked questions
Which enterprises will be converted into limited liability companies with one member?
Hoa Binh Water Supply and Drainage Company and Hoa Binh Housing Development and Urban Company will be converted into limited liability companies with one member in 2005.
When will the enterprises implement listing on the stock market?
Thanh Cong Construction Material Production Company and Hoa Binh Printing Company 26/3 will be listed on the stock market, with the State holding less than 50% of the charter capital or not holding any shares in 2006.
Which enterprises will be dissolved?
Industrial Tree Company and Lac Son Tea Factory will be dissolved in 2005.
What responsibility does the Chairman of the People's Committee of Hoa Binh Province have?
The Chairman of the People's Committee of Hoa Binh Province must direct the implementation of restructuring and modernization of state-owned enterprises directly under the People's Committee according to Decision No. 51/QD-TTg dated April 15, 2003, and this Decision.
When does the Decision take effect?
This Decision takes effect 15 days from the date of publication in the Official Gazette.
Full text
Pursuant to …;
Regarding the approval of the adjustment of the plan for restructuring and modernizing state-owned enterprises under the People's Committee of Dak Lak Province state-owned enterprise
under the People's Committee of Hoa Binh Province
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decision No. 155/2004/QĐ-TTg dated August 24, 2004 of the Prime Minister on issuing criteria and classification list for state-owned enterprises and independent accounting subsidiaries under state-owned corporations;
Considering the proposal of the People's Committee of Hoa Binh Province,
DECISION:
Article 1. Approves the adjustment of the restructuring plan for some state-owned enterprises directly under the People's Committee of Hoa Binh Province as follows:
1. Convert into a limited liability company with one member (to be implemented in 2005):
- Hoa Binh Water Supply and Sewerage Company.
- Hoa Binh Urban Development and Housing Corporation.
2. Shareholding reform, with State holding less than 50% of charter capital or not holding shares (to be implemented in 2006):
- Thanh Cong Construction Materials Production Company.
- Hoa Binh Printing Company 26/3.
3. Dissolution of enterprises (to be implemented in 2005):
- Industrial Tree Company.
- Lac Son Tea Workshop.
Article 2. Chairman of the People's Committee of Hoa Binh Province:
1. Direct the implementation of the restructuring and renewal of state-owned enterprises directly under the People's Committee of Hoa Binh Province according to Decision No. 51/QĐ-TTg dated April 15, 2003 of the Prime Minister approving the overall restructuring plan for state-owned enterprises directly under the People's Committee of Hoa Binh Province for the period 2003-2005 and this Decision.
2. Direct the restructuring of state-owned farms and forestry farms in accordance with Decree No. 170/2004/NĐ-CP dated September 22, 2004 on restructuring, renewal, and development of state-owned farms and Decree No. 200/2004/NĐ-CP dated December 3, 2004 of the Government on restructuring, renewal, and development of state-owned forestry farms.
Article 3. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
The Chairman of the People's Committee of Hoa Binh Province and heads of relevant agencies are responsible for implementing this Decision.
DEPUTY PRIME MINISTER
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