Decision No. 117/2004/QĐ-TTg on piloting the organization and operation under the Parent Company-Subsidiary model at Hanoi Textile-Garment Joint Stock Company (under Vietnam National Textile and Garment Corporation)

Pursuant to …;

Regarding the pilot organization and operation under the Parent Company - Subsidiary model at the Hanoi Textile - Garment Corporation belonging to the Vietnam Textile - Garment Corporation

PRIME MINISTER

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

Pursuant to the State Enterprise Law on April 20, 1995;

Pursuant to the Enterprise Law dated June 12, 1999;

At the proposal of the Board of Directors of the Vietnam Textile - Garment Corporation,

DECISION:

Article 1. Approves the Pilot Project for the Parent Company - Subsidiary Model at the Hanoi Textile - Garment Corporation, an independent accounting member enterprise of the Vietnam Textile - Garment Corporation.

1. The Hanoi Textile - Garment Corporation shall operate under the Parent Company - Subsidiary organizational model within the structure of the Vietnam Textile - Garment Corporation.

2. Parent Company: The Hanoi Textile - Garment Corporation is a state enterprise directly implementing production and business activities and investing capital in other companies, responsible for preserving and developing state capital at the Parent Company and invested capital in other companies. The Parent Company is formed from the Office and Hanoi Spinning Factory of the Hanoi Textile - Garment Corporation currently.

Name of the Parent Company: Hanoi Textile - Garment Corporation.

International trade name is: HANOI TEXTILE - GARMENT COMPANY.

Abbreviation: HANOSIMEX.

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

Management structure of the Parent Company includes: General Director and supporting staff.

3. Subsidiaries are joint-stock companies in which the Parent Company holds controlling shares:

- Dong My Garment Joint-Stock Company,

- Fashion Garment Joint Stock Company,

- Hanoi Garment Joint-Stock Company,

- Denim Weaving Joint-Stock Company,

- Dyeing Weaving Joint-Stock Company,

- Towel Weaving Joint-Stock Company,

- Hoang Thi Loan Textile - Garment Joint-Stock Company,

- Vinh Spinning Joint-Stock Company.

4. Other companies with contributions from the Parent Company:

- Mechanical Services Joint-Stock Company.

5. Registered capital structure and business sectors of the Parent Company and Subsidiaries; organization and management of the Parent Company; relationships between the Parent Company and Subsidiaries, and companies with contributions from the Parent Company; relationships between the Parent Company and the Vietnam Textile - Garment Corporation are stipulated in the Charter of the Parent Company's organization and operations.

6. The Parent Company is responsible for succeeding all legal rights and obligations of the current Hanoi Textile - Garment Corporation.

Article 2.

1. Entrust the Chairman of the Board of Directors of the Vietnam Textile - Garment Corporation:

- To lead and coordinate with relevant agencies in handling assets, finances, and labor when transitioning the Hanoi Textile - Garment Corporation to operate under the Parent Company - Subsidiary model.

- To monitor the operational situation of this pilot model, report to the Prime Minister issues that need correction and lessons learned.

- Proposes the Prime Minister to approve the Articles of Organization and Operation of the holding company.

2. Entrust the Minister of Industry to decide on the establishment of the Parent Company and Subsidiaries as specified in Article 1 of this Decision.

3. Entrust the Minister of Finance to approve the financial regulations for the pilot project of the Parent Company.

Article 3. This Decision shall take effect 15 days from the date of publication in the Official Gazette.

Ministers of Industry, Planning and Investment, Labor - Invalids and Social Affairs, Home Affairs, Finance, Chairman of the Board of Directors of the Vietnam Textile - Garment Corporation, and Heads of related agencies are responsible for implementing this Decision./.