Decision No. 217/2006/QĐ-TTg Establishing the Parent Company - Vietnam National Shipping Lines Corporation

Pursuant to …;

Establishment of the Parent Company - Vietnam National Shipping Lines Corporation

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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 November 29, 2005;

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 and independent state enterprises into parent company - subsidiary models;

Considering the proposal of the Board of Directors of Vietnam National Shipping Lines Corporation,

DECISION:

Article 1. The Parent Company - Vietnam National Shipping Lines Corporation (hereinafter referred to as Vietnam National Shipping Lines Corporation) shall be established based on the reorganization of the Vietnam National Shipping Lines Corporation Office, dependent accounting units, and branches.

1. Vietnam National Shipping Lines Corporation is a state enterprise with legal personality, seal, charter of organization and operation; it is entitled to open domestic currency and foreign currency accounts at the State Treasury and banks both within and outside the country in accordance with the provisions of the law; it directly carries out production, business activities, and invests capital in other companies; it is responsible for succeeding all legal rights, obligations, and legitimate interests of the previous Vietnam National Shipping Lines Corporation.

2. Full name: Vietnam National Shipping Lines Corporation.

International trade name in English:

VIETNAM NATIONAL SHIPPING LINES

Abbreviation: VINALINES

3. Head office: No. 1 Dao Duy Anh Street, Dong Da District, Hanoi City.

4. Charter capital of Vietnam National Shipping Lines Corporation is the ownership capital at June 30, 2006, after auditing.

5. Business sectors of Vietnam National Shipping Lines Corporation:

- Sea, river, road, multimodal transportation; passenger transportation by automobile;

- River and sea tugboat services and related auxiliary activities for transportation;

- Port exploitation, ship repair, maritime agency brokerage services;

- Import and export of marine equipment, materials; provision of maritime labor for organizations both domestically and internationally;

- Production, sale, leasing of transportation and handling equipment; dismantling of old transportation and handling equipment;

- Construction, installation, and completion of specialized facilities and equipment;

- Organizing dredging of rivers and lakes under contracts;

- Hotel, restaurant business; tourism, entertainment services; leasing premises for business purposes (kiosks, shopping centers);

- Agency, wholesale, retail goods, fuel; duty-free shop business; provision of ships;

- Bonded warehouse business; specialized information; processing of export goods.

6. Management structure of Vietnam National Shipping Lines Corporation includes: Board of Directors, Supervisory Board, General Director, Deputy General Directors, Chief Accountant, and supporting staff.

7. Organizational structure of Vietnam National Shipping Lines Corporation comprises the Vietnam National Shipping Lines Corporation Office, dependent accounting units, and branches as follows:

- Vinalines Marine Transport Company;

- Maritime Consultancy Company;

- Khuyen Luong Port;

- Strategic Development Research Center;

- Maritime Labor Export Company;

- Branch in Hai Phong City;

- Branch in Ho Chi Minh City;

- Branch in Can Tho City.

8. Subsidiaries and associated companies holding shares or contributions from Vietnam National Shipping Lines Corporation at the time of establishment are listed in the attached Appendix.

Article 2. Implementation organization:

1. The Ministry of Transport:

- Direct and monitor the implementation of this Decision;

- Submit the Prime Minister for appointment of the Chairman and members of the Board of Directors of Vietnam National Shipping Lines Corporation.

2. The Ministry of Finance approves the Financial Management Regulations and determines the charter capital of Vietnam National Shipping Lines Corporation according to the proposal of the Board of Directors of Vietnam National Shipping Lines Corporation.

3. The Board of Directors of Vietnam National Shipping Lines Corporation:

- Implement this Decision in accordance with current regulations;

- Holdealth the Prime Minister for approval of the Charter of Organization and Operation of Vietnam National Shipping Lines Corporation;

- Submit the Prime Minister for approval to appoint the General Director of Vietnam National Shipping Lines Corporation.

Article 3. This Decision takes effect fifteen days after its publication in the Official Gazette.

The Ministers of the Ministries of Transport, Finance, Planning and Investment, Home Affairs, Labor, Invalids and Social Affairs, the Steering Committee for Enterprise Reform and Development, Heads of relevant agencies, and the Board of Directors of Vietnam National Shipping Lines Corporation are responsible for implementing this Decision./.