Pursuant to Decision No. 226/2005/QĐ-TTg of the Prime Minister, the restructuring and renovation plan for some state-owned companies under the Ministry of Culture and Information is adjusted. The companies designated to be maintained, listed, merged, sold, or dissolved shall be carried out according to specific regulations.
Scope of application
State-owned companies directly under the Ministry of Culture and Information
Key points
- The Book Distribution Company Region II will be maintained as a 100% state-owned enterprise.
- List the Heritage Restoration and Cultural Equipment Company.
- Merge the Music Publishing House into the Culture and Information Publishing House.
- Sell the company: Construction and Maintenance Company.
- Dissolve or declare bankruptcy: Printing Industry Import-Export Company.
- The Minister of Culture and Information shall take the lead and coordinate with relevant agencies to handle debts and losses of some companies that cannot be listed.
- Based on current regulations and the actual situation of enterprises, decide the proportion of state-held shares when selling initial public offerings at each company.
🌐 Social impact of this document
- Positive impact: Reduce debt and losses for companies unable to be listed.
- Negative impact: May cause difficulties in maintaining operations for some state-owned enterprises.
❓ Frequently asked questions
What will happen to the Book Distribution Company Region II?
The Book Distribution Company Region II will be maintained as a 100% state-owned enterprise according to this Decision.
What will happen to the Heritage Restoration and Cultural Equipment Company?
The Heritage Restoration and Cultural Equipment Company will be listed according to this Decision.
Which company will the Music Publishing House be merged into?
The Music Publishing House will be merged into the Culture and Information Publishing House according to this Decision.
What will happen to the Construction and Maintenance Company?
The Construction and Maintenance Company will be sold according to this Decision.
What will happen to the Printing Industry Import-Export Company?
The Printing Industry Import-Export Company will be dissolved or declared bankrupt according to this Decision.
Full text
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.
DEPUTY PRIME MINISTER
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