Decision No. 254/TTg establishes Vietnam Tobacco Corporation based on the organization and restructuring of production, circulation, and tobacco-related public service units. The company operates according to the Law and has legal personality, being responsible for all business activities.
Scope of application
Ministry of Light Industry, Ministry of Finance, Government Organization-Cadre Department, government agencies, People's Committees of provinces and centrally governed cities, Board of Directors and General Director of Vietnam Tobacco Corporation.
Key points
- Vietnam Tobacco Corporation is established based on the organization and restructuring of production, circulation, and tobacco-related public service units under the Ministry of Light Industry and localities.
- The company has legal personality, bears responsibility for its business operations, has a seal, assets, and centralized funds, and is allowed to open bank accounts both domestically and internationally.
- The main tasks of the Corporation include implementing the development plan for the tobacco industry, investing, generating capital, organizing raw material regions, production, product consumption, supplying materials and equipment, import and export, joint ventures, and cooperation with economic organizations both domestically and internationally.
- The organizational structure of the Corporation includes the Board of Directors, Supervisory Board, General Director, and supporting staff, as well as member units. The organization and operation are specifically regulated in the Charter issued by the Government.
- The Minister of Light Industry is responsible for developing plans for the organization and restructuring of production, circulation, and public service units to compile a list of member units of the Corporation. The Board of Directors is responsible for drafting the Charter governing the organization and operation of the Corporation.
🌐 Social impact of this document
- Positive impact: Creating a strong corporation that concentrates resources to develop the tobacco industry.
- Negative impact: It may cause difficulties in the process of reorganizing and managing member units.
❓ Frequently asked questions
When was Vietnam Tobacco Corporation established?
Vietnam Tobacco Corporation was established pursuant to Decision No. 254/TTg issued on April 29, 1995.
Who appoints the General Director of Vietnam Tobacco Corporation?
The Minister of Light Industry is responsible for appointing the Chairman of the Board of Directors, the General Director, and other members of the Board of Directors. Deputy General Directors and Chief Accountants are appointed after the General Director submits proposals.
Does Vietnam Tobacco Corporation have legal personality?
Yes, Vietnam Tobacco Corporation is a state-owned enterprise with legal personality and is responsible for all its business activities.
What are the main tasks of Vietnam Tobacco Corporation?
The main tasks of Vietnam Tobacco Corporation include implementing the development plan for the tobacco industry, investing, generating capital, organizing raw material regions, production, product consumption, supplying materials and equipment, import and export, joint ventures, and cooperation with economic organizations both domestically and internationally.
Does Vietnam Tobacco Corporation have the right to manage its finances independently?
Yes, the Corporation receives and uses effectively, preserves, and develops the capital assigned by the State, including investment in other enterprises; it also opens domestic and international bank accounts in accordance with State regulations.
Full text
DECISION
Regarding the establishment of Vietnam Tobacco Corporation
PRIME MINISTER
Pursuant to the Government Organization Law 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 Minister of Light Industry;
DECISION:
Article 1. Establish Vietnam Tobacco Corporation based on the reorganization and restructuring of production, circulation, and tobacco-related public service units under the Ministry of Light Industry and localities.
Vietnam Tobacco Corporation (hereinafter referred to as the Corporation) is a state-owned enterprise engaged in business operations with legal personality, possessing civil rights and obligations as prescribed by law, bearing full responsibility for its activities and business operations within the capital managed by the Corporation; having a seal, assets, and centralized funds, being allowed to open bank accounts both domestically and internationally according to State regulations, organizing and operating in accordance with the Articles of Association of the Corporation.
The international trading name of Vietnam Tobacco Corporation is:
VIETNAM NATIONAL TOBACCO CORPORATION, abbreviated as VINATABA.
The headquarters of the Corporation is located in Hanoi City.
Article 2. The main tasks of the Corporation are as follows:
1. Implementing tobacco business tasks according to the national tobacco industry development plan and planning, including: Developing plans for development, investment, creating investment capital, organizing tobacco raw material regions, production, product consumption; supplying materials and equipment; import and export; joint ventures and collaborations with domestic and foreign economic organizations in compliance with State laws and policies.
2. Receiving and effectively utilizing, preserving, and developing the capital assigned by the State, including the portion invested in other enterprises; receiving and effectively utilizing natural resources, land, and other resources assigned by the State to fulfill business tasks and other assigned tasks.
Organizing and managing scientific research and technological advancement application work and training and staff development work for employees in the Corporation.
Article 3.
1. The organizational structure of the Corporation includes:
- Board of Directors, Supervisory Board;
- General Director and supporting staff;
- Units belonging to the Corporation.
2. The organization and operation of the Corporation shall be specifically regulated in the Articles of Association of the Corporation issued by the Government.
Article 4. The Minister of Light Industry, after reaching consensus with the Minister in charge of the Civil Service and Cadres Department of the Government, 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 Minister of Light Industry shall appoint the Deputy General Director and Chief Accountant of the Corporation upon the recommendation of the General Director of the Corporation, as proposed by the Board of Directors.
Article 5.
1. The Minister of Light Industry is responsible for drafting the organizational and restructuring plan for the production, circulation, and public service units mentioned in Article 1 above to compile a list of Corporation member units for submission.
2. The Board of Directors of the Corporation is responsible for drafting the Articles of Association governing the organization and operation of the Corporation for submission to the Government for issuance.
3. The Minister of Finance, in coordination with the Minister of Light Industry, is responsible for implementing the capital transfer to the Corporation.
Article 6. This Decision takes effect from the date of issuance.
The Minister of Light Industry, the Minister of Finance, the Minister in charge of the Civil Service and Cadres Department of the Government, the Ministers and Heads of agencies at the ministerial level, the Heads of agencies equivalent to ministries, the Chairmen of People's Committees of provinces and centrally-administered cities, the Board of Directors, and the General Director of Vietnam Tobacco Corporation are responsible for enforcing this Decision.
Relations map
Click a document to open. A red border = a relation that changes validity.
Translations
This document is available in the following languages: