Decision No. 242/2005/QĐ-TTg approves the Project to establish the Vietnam Water Supply and Environment Investment Construction Corporation operating under the Parent Company - Subsidiary model

Pursuant to …;

Approving the Project on Establishing the Vietnam Water Supply and Environment Investment Construction Corporation Operating under the Holding 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 corporations and independent state-owned companies operating under the holding company - subsidiary model;

Considering the proposal of the Minister of Construction,

DECISION:

Article 1. Approves the Project on establishing the Vietnam Water Supply and Environment Investment Construction Corporation operating under the holding company - subsidiary model, engaging in diversified business sectors, with the main sector being construction installation, design consultancy, production and sale of specialized water supply and drainage equipment; investment and operation, comprehensive construction of large-scale water supply and drainage systems, regional and inter-regional projects; acting as general contractor for water supply and environment projects.

1. The holding company - Vietnam Water Supply and Environment Investment Construction Corporation (VIWASEEN) is a state-owned company formed based on the restructuring of the Independent State-Owned Construction Corporation for Water Supply and Drainage under the Ministry of Construction.

2. Subsidiaries are state-owned limited liability companies with one member, joint-stock companies, limited liability companies with multiple members, and joint ventures where the holding company holds controlling equity, including:

a) Subsidiaries are state-owned limited liability companies with one member:

- State-owned Limited Liability Company for Investment and Construction of Water Supply and Drainage (WASECO),

- State-owned Limited Liability Company for Consultancy of Water Supply and Drainage No. 2 (WASE).

b) Joint-stock companies, in which the holding company holds more than 50% of the charter capital:

- Joint-Stock Company for Construction of Water Supply and Drainage No. 1 (Hanoi),

- Joint-Stock Company for Mechanical Construction of Water Supply and Drainage (Hanoi),

- Joint-Stock Company for Electrical Water Installation and Construction (Hanoi),

- Joint-Stock Company for Construction of Water Supply and Drainage No. 5 (Da Nang),

- Joint-Stock Company for Northern Clean Water Investment and Business (Haiphong),

- Joint-Stock Company for Drilling and Construction of Water Supply and Drainage (Ho Chi Minh City),

- Joint-Stock Company for Construction of Water Supply and Drainage No. 12 (Khanh Hoa),

- Joint-Stock Company for Construction of Water Supply and Drainage No. 15 (Can Tho),

- Joint-Stock Company for Installation and Production of Water Industry Equipment (Dong Nai).

3. Associated companies:

- Joint Venture Company for Ductile Iron Pipe Daiviet (Dong Nai),

- Joint Venture Company for Steel Pipe Saigon (Dong Nai),

- Joint-Stock Company for Clean Water Binh Hiep (Binh Thuan).

4. The Vietnam Water Supply and Environment Investment Construction Corporation operates under the holding company - subsidiary model, implementing accounting and business operations in accordance with the provisions of the law, Articles of Association, and Financial Regulations approved by competent state authorities. The management structure of the Corporation includes the Board of Directors, General Director, Deputy General Directors, Chief Accountant, and supporting staff.

Article 2. Assignment of tasks:

1. Minister of Construction:

- Implement this Project; decide on the establishment of the holding company and the formation of subsidiaries and companies where the holding company has invested as stipulated in Article 1 of this Decision in accordance with current regulations.

- Approve the Articles of Association of the holding company.

2. Minister of Finance approves the Financial Regulations of the holding company based on the proposal of the Ministry of Construction.

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 Construction, the Minister of Finance, and heads of relevant agencies are responsible for enforcing this Decision./.