Decision No. 256/TTg On the establishment of Vietnam Paper Joint Stock Company

Pursuant to …;

Regarding the establishment of Vietnam Paper Joint Stock Company 

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 Paper Joint Stock Company based on the reorganization and restructuring of production, circulation, and public service units under the Ministry of Light Industry related to the paper industry, and raw material production units under the Ministry of Forestry and localities.

Vietnam Paper Joint Stock Company (hereinafter referred to as the Company) 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 all activities and business operations within the capital managed by the Company; having its own seal, assets, and centralized funds, being allowed to open accounts at domestic and foreign banks according to State regulations, organizing and operating in accordance with the Charter of the Company.

The international trading name of Vietnam Paper Joint Stock Company is:

VIETNAM PAPER CORPORATION, abbreviated as VINAPIMEX.

The headquarters of the Corporation is located in Hanoi City.

Article 2. The Corporation has the following main tasks:

1. Implementing the tasks of paper business development as planned by the State, including: Developing plans for development, investment, creating investment capital, organizing raw material regions, production, consumption, product sales, import and export; forming joint ventures and associations with economic organizations both domestically and internationally 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.

3. Organizing and managing scientific research and technological advancement application work, as well as training and improving staff and workers within the Company.

Article 3.

1. The organizational structure of the Company includes:

- Board of Directors, Supervisory Board;

- General Director and supporting staff;

- Member units of the Company.

2. The organization and operation of the Company are specifically regulated in the Company's Charter issued by the Government.

Article 4. The Minister of Light Industry, after coordinating with the Minister of Personnel and Organization of the Government, shall submit to the Prime Minister for the decision to appoint the Chairman of the Board of Directors, General Director, and other members of the Board of Directors of the Company.

The Minister of Light Industry shall decide on the appointment of Deputy General Director and Chief Accountant of the Company based on the recommendation of the General Director of the Company submitted by the Board of Directors.

Article 5.

1. The Minister of Light Industry is responsible for leading and coordinating with the Minister of Forestry to develop an organizational and restructuring plan for production, circulation, and public service units related to the paper industry to compile a list of member units of the Company for submission.

2. The Board of Directors of the Company is responsible for drafting the Charter regulating the organization and operation of the Company for submission to the Government for issuance.

3. The Minister of Finance is responsible for leading and coordinating with the Minister of Light Industry to implement the capital assignment to the Company.

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

The Minister of Light Industry, the Minister of Forestry, the Minister of Finance, the Minister, the Head of the Personnel and Organization Department of the Government, the Ministers, Heads of Ministries equivalent to Ministries, Heads of agencies subordinate to the Government, Chairmen of People's Committees of provinces and centrally-administered cities, the Board of Directors, and the General Director of Vietnam Paper Joint Stock Company are responsible for implementing this Decision.