Decision No. 249/TTg On the establishment of Vietnam Post and Telecommunications Corporation

DECISION

Regarding the establishment of Vietnam Post and Telecommunications Corporation  

PRIME MINISTER

Pursuant to the Law on the Organization of the Government dated September 30, 1992;

To implement Decision No. 91/TTg dated March 7, 1994 of the Prime Minister on piloting the establishment of business groups;

Considering the proposal of the Director General of the Posts and Telecommunications General Department;

DECISION:

Article 1. Establish Vietnam Post and Telecommunications Corporation based on the reorganization and restructuring of service, production, circulation, and public welfare units under the Posts and Telecommunications General Department.

Vietnam Post and Telecommunications Corporation (hereinafter referred to as the Corporation) is a state-owned corporation engaged in business operations with legal personality, enjoying civil rights and obligations as prescribed by law, being fully responsible for all its activities and business within the scope of capital it manages; having seals, assets, and centralized funds, able to open accounts at domestic and foreign banks according to State regulations, organized and operating in accordance with the Articles of Association of the Corporation.

Vietnam Post and Telecommunications Corporation has the international trade name of VIETNAM POST AND TELECOMMUNICATIONS, abbreviated as VNPT.

The headquarters of the Corporation is located in Hanoi City.

Article 2. The Corporation has the following main tasks:

1. Implementing business tasks and postal and telecommunications services according to national planning, plans, and development policies, including: developing development, investment, and funding plans; developing public postal and telecommunications networks; providing postal and telecommunications services; ensuring communication for Party and State leadership; serving defense, security, and diplomacy; producing postal and telecommunications industries; constructing postal and telecommunications works; importing and exporting postal and telecommunications equipment; forming joint ventures and associations with domestic and foreign economic organizations in accordance with laws and State policies.

2. Receiving and effectively utilizing, preserving, and developing capital assigned by the State, including investment capital in other enterprises; receiving and effectively utilizing natural resources, land, and other sources assigned by the State to fulfill business tasks and other assigned tasks.

3. Organize and manage research and application of scientific and technological progress and training and capacity building for cadres and workers within the Corporation.

Article 3.

1. The organizational structure of the Corporation includes:

- Board of Directors, Supervisory Board;

- General Director and supporting staff;

- Member units of the Corporation.

2. The organization and operation of the Corporation are specifically regulated in the Articles of Association of the Corporation issued by the Government.

Article 4. The Director General of the Posts and Telecommunications General Department, after reaching consensus with the Minister of the Government's Organization and Cadre Affairs Department, shall submit to the Prime Minister for decision on appointing the Chairman of the Board of Directors, General Director, and other members of the Board of Directors of the Corporation.

The Director General of the Posts and Telecommunications General Department shall appoint the Deputy General Director and Chief Accountant of the Corporation based on the recommendation of the General Director, upon approval by the Board of Directors.

Article 5.

1. The Director General of the Posts and Telecommunications General Department is responsible for formulating the plan to reorganize service, production, circulation, and public welfare units in postal and telecommunications as stipulated in Article 1 above to establish a list of member units of the Corporation to be submitted for approval.

2. The Board of Directors of the Corporation is responsible for formulating the Articles of Association of the Corporation's organization and operation to be submitted for promulgation by the Government.

The Minister of Finance, in coordination with the Director General of the Posts and Telecommunications General Department, is responsible for implementing the assignment of capital to the Corporation.

Article 6. This Decision takes effect from the date of issuance.

The Director General of the Posts and Telecommunications General Department, the Minister of Finance, the Ministers, the Head of the Government's Organization and Cadre Affairs Department, the Heads of Ministries, agencies equivalent to ministries, government agencies, the Chairmen of Provincial People's Committees directly under the Central Government, the Board of Directors, and the General Director of Vietnam Post and Telecommunications Corporation are responsible for enforcing this Decision.