Decision No. 192/2005/QĐ-TTg On approving the Project to transform Vietnam Television Investment and Development Company into Vietnam Multi-Media Corporation operating under the holding company-subcompany model

Pursuant to …;

Regarding the approval of the Project to transform Vietnam Television Investment and Development Corporation into a Multi-Media Communication Holding Corporation operating under the parent company - subsidiary model

transform the Vietnam Television into a Multimedia Communication Holding Corporation operating under the Parent Company - Subsidiary model

operating under the Parent Company - Subsidiary model

PRIME MINISTER

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

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to the Enterprise Law dated June 12, 1999;

Pursuant to Decree No. 153/2004/NĐ-CP dated August 9, 2004 of the Government on the organization and management of State-owned Holding Corporations and the transformation of State-owned Holding Corporations and independent State-owned corporations into the parent company - subsidiary model;

Considering the proposal of the Minister of Posts and Telecommunications,

DECISION:

Article 1. Approves the Project to transform Vietnam Television Investment and Development Corporation into a Multi-Media Communication Holding Corporation operating under the parent company - subsidiary model with the following contents:

1. The parent company - Multi-Media Communication Holding Corporation is a state corporation formed based on the restructuring of Vietnam Television Investment and Development Corporation under the Ministry of Posts and Telecommunications, with its organizational management structure determined by the Ministry of Posts and Telecommunications in accordance with the provisions of the law.

2. The parent company has the function of directly producing, trading, and investing financial resources in other enterprises; it has a management structure as prescribed by law.

3. Subsidiaries include:

- VTC Solution Technology Joint Stock Company Limited Liability.

- VTC Central Multi-Media Communication Joint Stock Company Limited Liability.

- VTC Southern Multi-Media Communication Joint Stock Company Limited Liability.

- VTC Television and Communication Development Joint Stock Company. - VTC Telecommunication Equipment Trading Joint Stock Company.

- VTC Electronics Telecommunications Joint Stock Company.

- VTC Electronics and Cable Television Joint Stock Company.

- International Cooperation Services Joint Stock Company.

- VTC Telecommunications and Television Technology Transfer Joint Stock Company.

- VTC Television Advertising and Entertainment Program Production and Trading Joint Stock Company.

- VTC Television Advertising and Entertainment Program Production and Trading Joint Stock Company.

4. Other companies holding less than 50% of the charter capital are established in accordance with the provisions of the law.

5. The charter capital, business fields of the parent company and subsidiaries; the organization and management of the parent company; relations between the parent company and the State owner and with subsidiaries are stipulated in the Charter of the parent company's organization and operation.

Article 2. Implementation organization:

1. The Minister of Posts and Telecommunications directs the implementation of this Project; decides on the establishment and approves the Charter of the parent company's organization and operation, the formation of subsidiaries as stipulated in Article 1 of this Decision in accordance with current regulations.

2. The Minister of Finance, in coordination with the Minister of Posts and Telecommunications, guides the Holding Corporation to implement the supplementary charter capital in accordance with current regulations; approves the Financial Regulations of the parent company upon the proposal of the Minister of Posts and Telecommunications.

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

The Minister of Posts and Telecommunications and the heads of relevant agencies are responsible for implementing this Decision./.