Decision No. 197/2005/QĐ-TTg approves the adjustment plan for the restructuring and renewal of certain state-owned enterprises directly under the Ministry of Trade. These enterprises will be converted to the parent company - subsidiary model or listed on the stock exchange, sold, transferred to a workers' collective, merged, or sold and transferred.
Scope of application
State-owned enterprises directly under the Ministry of Trade
Key points
- The PETEC Engineering and Investment Trading Corporation will operate under the parent company - subsidiary model with the parent company being a state-owned enterprise.
- The INTIMEX Import-Export Corporation, Food and Technology Investment Corporation, Northern Food Corporation, Hai Phong Electrical Appliances Corporation, Electrical Appliances and Technical Engineering Corporation, Foreign Trade Warehousing and Transportation Corporation (Vietrans), and Vinatrans will operate under the parent company - subsidiary model with the parent company being a joint-stock corporation.
- The Goods and Materials Trading and Production Corporation will undergo shareholding reform.
- The Hai Hung General Materials Corporation will be sold or transferred to a workers' collective.
- The Cambodia Import-Export Corporation will be merged or sold and transferred.
🌐 Social impact of this document
- Positive impact: Restructuring and renewing state-owned enterprises enhances business operation efficiency.
- Negative impact: It may cause instability during the transition process, affecting workers' rights.
❓ Frequently asked questions
Which companies will be converted to the parent company - subsidiary model?
The PETEC Engineering and Investment Trading Corporation, INTIMEX Import-Export Corporation, Food and Technology Investment Corporation, Northern Food Corporation, Hai Phong Electrical Appliances Corporation, Electrical Appliances and Technical Engineering Corporation, Foreign Trade Warehousing and Transportation Corporation (Vietrans), and Vinatrans will be converted to the parent company - subsidiary model.
Which company will undergo shareholding reform?
The Goods and Materials Trading and Production Corporation will undergo shareholding reform.
Which company will be sold or transferred to a workers' collective?
The Hai Hung General Materials Corporation will be sold or transferred to a workers' collective.
Which company will be merged or sold and transferred?
The Cambodia Import-Export Corporation will be merged or sold and transferred.
When does this decision take effect?
This decision takes effect fifteen days after its publication in the Official Gazette.
Full text
Pursuant to …;
Regarding the approval of adjustments to the restructuring plan and corporate renewal for state-owned enterprises under the Ministry of Trade
đổi mới công ty nhà nước thuộc Bộ Thương mại ||| reform state-owned enterprises under the Ministry of Trade
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 lists for state-owned enterprises and independent accounting subsidiaries of state-owned corporations;
Considering the proposal of the Ministry of Trade,
DECISION:
Article 1. Approves the adjustment of the restructuring and corporate renewal plans for certain state-owned enterprises directly under the Ministry of Trade as follows:
1. Transfer the Technical Trading and Investment PETEC Company to operate under the parent-subsidiary model, where the parent company is a state-owned enterprise.
2. Transfer to operate under the parent-subsidiary model, where the parent company is a joint-stock company:
- INTIMEX Import-Export Company.
- Food and Technology Investment Company.
- Northern Food Company.
- Haiphong Electrical Machinery Company.
- Electrical Machinery and Engineering Technology Company.
- Foreign Trade Warehousing and Transportation Company (Vietrans).
- Ho Chi Minh City Foreign Trade Warehousing and Transportation Company (Vinatrans).
- Machinery and Spare Parts Company.
3. Joint-stock conversion: Commodities Trading and Production Materials Company.
4. Sell or transfer to the workforce collective: Hai Hung General Materials Company.
5. Merge or sell: Cambodia Import-Export Company.
Article 2. The Minister of Trade:
1. Direct the implementation of the restructuring and corporate renewal of state-owned enterprises directly under the Ministry according to Decision No. 152/2002/QĐ-TTg dated November 7, 2002 of
2. Decides to transfer the companies mentioned in Clauses 1 and 2 of Article 1 of this Decision to operate under the parent-subsidiary model in accordance with current regulations.
3. Based on the actual situation of the enterprises and current regulations, decide on appropriate restructuring forms for the companies mentioned in Clauses 4 and 5 of Article 1 of this Decision.
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 Trade and heads of relevant agencies are responsible for implementing this Decision./.
DEPUTY PRIME MINISTER
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