Decision No. 226/2005/QĐ-TTg on adjusting the restructuring and renovation plan for some state-owned companies under the Ministry of Culture and Information

Pursuant to …;

Regarding the adjustment of plans for restructuring and modernizing certain state-owned enterprises under the Ministry of Culture and Information

under the Ministry of Culture, Sports and Tourism

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 holding companies;

Considering the proposal of the Minister of Culture and Information,

DECISION:

Article 1. Approves the adjustment of the restructuring forms for certain state-owned enterprises under the Ministry of Culture and Information as follows:

1. Maintain as a wholly state-owned enterprise: Region II Book Distribution Company.

2. Privatize the Heritage Restoration and Cultural Equipment Company.

3. Merge the Music Publishing House into the Culture and Information Publishing House.

4. Sell the enterprise: Construction and Maintenance Company.

5. Dissolve or declare bankruptcy: Printing Industry Import-Export Company.

Article 2. The Minister of Culture and Information

1. Shall take the lead and coordinate with the Ministry of Finance and commercial banks to handle debts and losses of the following Companies: Central Fine Arts, Import-Export and Cultural Development, Printing Industry Material and Equipment Import-Export, and shall submit by December 2005 to the Prime Minister for approval of the restructuring form for these companies.

2. Direct the acceleration of implementation of the restructuring and modernization of state-owned enterprises directly under the Ministry approved by Decision No. 103/2003/QĐ-TTg dated May 27, 2003 of the Prime Minister and this Decision.

For enterprises that cannot be privatized, proactively convert them to one of the following forms: business assignment, lease operation, public auction sale, dissolution, or bankruptcy according to current regulations and report to the Prime Minister.

3. Based on current regulations and the actual situation of the enterprise, decide the proportion of shares held by the State when selling shares for the first time at each company.

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 Culture and Information and heads of relevant agencies are responsible for implementing this Decision.