Decision No. 125/QD-TTg Regarding the approval of the overall restructuring and modernization plan for State-owned corporations and enterprises under the Ministry of Industry for the period 2003-2005.

Pursuant to …;

Regarding the approval of the overall restructuring and renewal plan for State-owned corporations and enterprises under the Ministry of Industry for the period from 2003 to 2005

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 Board of Directors of the Vietnam Oil and Gas Corporation, opinions of the Ministries of Industry, Planning and Investment, Finance, Labor, War Invalids and Social Affairs,

Based on the conclusions of Prime Minister Phan Van Khai at the Permanent Government Council meeting on January 22, 2003;

Considering the proposals of the Ministry of Industry (memoranda: No. 2692/CV-KHĐT-ĐMDN dated July 18, 2002, No. 4543/CV-KHĐT and No. 4560/CV-KHĐT dated November 15, 2002, No. 1248/CV-ĐMDN dated April 11, 2002, No. 4233/CV-TCCB dated October 28, 2002, No. 4894/CV-ĐMDN dated December 6, 2002, No. 5177/CV-ĐMDN dated December 18, 2002, No. 5183/CV-TCCB dated December 24, 2002, No. 60/CV-KHĐT dated January 7, 2003), opinions of the Ministries of Planning and Investment (memoranda: No. 5844/BKH-DN dated September 13, 2002, No. 2821/BKH-DN dated May 8, 2002, No. 7319/BKH-DN dated November 18, 2002), Finance (memoranda: No. 9670/TC-TCDN dated September 6, 2002, No. 4598/TC-TCDN dated May 15, 2002, No. 14254/TC-TCDN dated December 27, 2002), Agriculture and Rural Development (memo No. 1255/BNN-VP dated May 9, 2002), Home Affairs (memoranda: No. 225/BNV-TCBC dated September 13, 2002, No. 916/BNV-TCBC dated December 4, 2002) and the Central Economic Commission (memoranda: No. 331/CN-KTTW dated August 23, 2002, No. 187/KTTW dated May 16, 2002, No. 478/CV-KTTW dated November 13, 2002),

Pursuant to …;

Article 1. Approves the overall restructuring and renewal plan for State-owned corporations and enterprises under the Ministry of Industry for the period from 2003 to 2005 as attached as an appendix.

Article 2

1. Reorganize the Vietnam Alcohol - Beer - Beverage Corporation into two State-owned corporations (Hanoi Beer Corporation and Saigon Beer Corporation). The Minister of Industry shall submit to the Prime Minister the restructuring plan for these two corporations.

2. Dissolve the management bodies of the following corporations: Vietnam Leather Corporation, Vietnam Plastic Corporation, Industrial Porcelain and Glass Corporation, and transfer the independent accounting member enterprises under these corporations directly to the Ministry of Industry. The Ministry of Industry shall direct the member enterprises that have the necessary conditions to develop into corporations operating under the holding company - subsidiary model, linked with the brand and products of the enterprise. The Minister of Industry shall issue decisions on dissolving the leadership bodies of the corporations and approve the restructuring plans for the corporation offices and dependent units according to the restructuring and reorganization plan.

3. Merge the Precious Stones and Gold Corporation into the Vietnam Mining Corporation.

The dissolution, merger, and establishment of new State-owned corporations and enterprises shall be carried out in accordance with current regulations.

Article 3. The Minister of Industry is responsible for directing the implementation of the restructuring and renewal of State-owned corporations and enterprises under its jurisdiction in accordance with the approved content and schedule. Any adjustments or supplements must be approved by the Prime Minister.

Article 4. The Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Labor, Invalids and Social Affairs, the State Bank of Vietnam, and related agencies are responsible for coordinating with the Ministry of Industry in implementing this plan.

The Steering Committee for Enterprise Renewal and Development is responsible for supervising, guiding, and monitoring the implementation of this plan, and simultaneously recommending solutions to the Prime Minister to overcome difficulties during the implementation process.

Article 5. THIS DECISION SHALL TAKE EFFECT 15 DAYS AFTER THE DATE OF SIGNATURE.

The Minister of Industry and heads of relevant agencies are responsible for enforcing this Decision./.