Decision No. 16/2007/QĐ-BBCVT On the establishment of Vietnam Post Corporation

 Pursuant to …;

Regarding the establishment of Vietnam Post Corporation

THE MINISTER OF POSTS AND TELECOMMUNICATIONS

Pursuant to Decree No. 90/2002/NĐ-CP dated November 11, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Posts and Telecommunications;

Pursuant to Decree No. 153/2004/NĐ-CP dated August 9, 2004 of the Government on the organization, management of state-owned corporations, and the transformation of state-owned corporations into parent companies - subsidiary companies;

Pursuant to Decision No. 58/2005/QĐ-TTg dated March 23, 2005 of the Prime Minister approving the pilot project for the formation of the Vietnam Posts and Telecommunications Group;

Pursuant to Decision No. 06/2006/QĐ-TTg dated January 9, 2006 of the Prime Minister regarding the establishment of the Parent Company - Vietnam Posts and Telecommunications Group, and Decision No. 265/2006/QĐ-TTg dated November 17, 2006 of the Prime Minister approving the Charter of Organization and Operation of the Vietnam Posts and Telecommunications Group;

Pursuant to Decision No. 674/QĐ-TTg dated June 1, 2007 of the Prime Minister approving the Project for the Establishment of Vietnam Post Corporation;

Based on the proposal of the Director of the Cadre and Civil Servant Department and the Board of Directors of the Vietnam Posts and Telecommunications Group.

DECISION:

Article 1. Establish Vietnam Post Corporation:

1. Vietnam Post Corporation is a state-owned corporation established and capitalized by the State through the Vietnam Posts and Telecommunications Group; it operates under the accounting system and regulations stipulated in the Law on State-Owned Enterprises and the Law on Enterprises, and the Charter of Organization and Operation of the Vietnam Posts and Telecommunications Group; it has legal personality, seal, emblem, Charter of Organization and Operation; it is entitled to open accounts at the State Treasury and banks in accordance with the law; it is responsible for inheriting all legal rights, obligations, and legitimate business interests in the postal sector from the former Vietnam Posts and Telecommunications Corporation according to the provisions of the law.

2. Name: Vietnam Post Corporation, abbreviated as Vietnam Post.

International trade name: Vietnam Post, abbreviated as VNPost.

Main office: located in Hanoi City

4. Registered capital: not less than 8,122 billion VND at the time of establishment, formed from state-owned capital and assets transferred from the Vietnam Posts and Telecommunications Group to Vietnam Post Corporation.

5. Fields of operation and business activities:

a) Establishing, managing, operating, and developing public postal networks, providing universal postal services according to strategies, plans approved by competent state authorities;

b) Providing other public services as required by competent state authorities;

c) Operating exclusive postal services as prescribed by competent state authorities;

d) Operating postal services, newspaper distribution, and domestic and international courier services;

đ) Participating in international postal service provision and other activities within the framework of international treaties in the postal sector that Vietnam has signed or joined, upon permission by the State;

e) Cooperating with telecommunications enterprises to provide telecommunications and information technology services;

g) Consulting, researching, training, teaching vocational skills, and applying scientific and technological advancements in the postal sector;

h) Operating services on the internet in accordance with the law;

i) Operating insurance, financial, and banking services in accordance with the law;

k) Operating passenger and cargo transportation services in accordance with the law;

l) Operating logistics services;

m) Buying, selling, repairing vehicles and vehicle parts and equipment;

n) Buying, selling, acting as agents for buying and selling goods and services of organizations and individuals both domestically and internationally in accordance with the law;

o) Exporting and importing postal and telecommunications equipment, information technology, office equipment, and other goods and services;

p) Leasing machinery, equipment, and transportation means in accordance with the law;

q) Printing, photocopying various types of records; publishing and distributing publications;

r) Operating real estate, leasing offices;

s) Operating restaurants, hotels, tourism services, advertising;

t) Producing paper and paper products in accordance with the law;

u) Consulting, market research; building, storing, and utilizing databases in accordance with the law;

v) Designing and constructing projects and components in the postal and telecommunications sectors;

x) Operating other industries and businesses in accordance with the law.

6. Management structure of Vietnam Post Corporation, including:

a) The Board of Directors of the Vietnam Posts and Telecommunications Group acts as the direct representative of the state owner at Vietnam Post Corporation;

b) The Audit Committee of the Vietnam Posts and Telecommunications Group assists the Board of Directors of the Vietnam Posts and Telecommunications Group in checking and supervising the legality, accuracy, and honesty in management, operation, accounting records, financial reports, compliance with the Charter of Vietnam Post Corporation, and implementation of resolutions and decisions of the Chairman of the Board of Directors of the Vietnam Posts and Telecommunications Group in their capacity as the direct representative of the state owner at Vietnam Post Corporation;

c) General Director, Deputy General Directors, Chief Accountant, and supporting staff.

7. Subordinate units of Vietnam Post Corporation:

a) Dependent accounting units:

- Sixty-four (64) provincial and municipal post offices (formed based on separating postal operations from current provincial and municipal post offices, including the reorganization of Hanoi, Ho Chi Minh City, Da Nang, Can Tho, and Binh Dinh post offices, which will include the merger of centers of inter-provincial and international postal companies - VPS);

- Central Newspaper Distribution Company;

- Postal Savings Service Company;

- Other units established in accordance with the law.

b) Joint-stock companies with more than 50% of charter capital contributed by Vietnam Post Corporation:

- Express Mail Service Joint-Stock Company;

- Stamp Joint-Stock Company (to be established through the privatization of the Stamp Company after its separation and the transfer of management and business operations related to postal fee stamps to the Postal Stamp Board under the Corporation);

- Postal Stamp Printing Joint-Stock Company (to be established through the privatization of the Postal Stamp Printing Company);

- Postal Tourism Joint-Stock Company;

- Other units established in accordance with the law.

c) Public institutions: to be formed in accordance with the provisions of the law.

Other subsidiaries shall be established in accordance with the development strategy of the Corporation and the provisions of the law.

8. Limited liability companies and joint-stock companies with less than 50% of charter capital contributed by Vietnam Post Corporation.

- DHL/VNPT Two-Member Limited Liability Company;

- Postal Insurance Joint-Stock Company;

- Other companies established in accordance with the provisions of the law.

Article 2. Implementing organization.

The Board of Directors of Vietnam Posts and Telecommunications Group has the responsibility:

1. To develop a roadmap and direct the implementation of the separation of postal and telecommunications activities to form Vietnam Post Corporation, ensuring that Vietnam Post Corporation operates and accounts according to the model approved by the Prime Minister from January 1, 2008.

2. To ensure the continuity and stability of postal network management activities and the provision of postal services and universal postal services to customers during the transfer of legal rights and obligations between Vietnam Posts and Telecommunications Group and Vietnam Post Corporation.

3. To carry out tasks and submit to competent state agencies for decision-making on issues related to the operation of Vietnam Post Corporation as stipulated in Decision No. 674/QD-TTg dated June 1, 2007 of the Prime Minister approving the establishment project of Vietnam Post Corporation and as provided in the Articles of Association of Vietnam Posts and Telecommunications Group.

4. To organize the privatization of units to form the Stamp Joint-Stock Company and Postal Stamp Printing Joint-Stock Company in accordance with current regulations.

Article 3. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Head of the Office, the Director of the Cadre and Civil Servant Department, the Board of Directors of Vietnam Posts and Telecommunications Group, the General Director of Vietnam Post Corporation, and the heads of relevant agencies and units are responsible for implementing this decision./.