Decision No. 267/2006/QĐ-TTg Establishing the Parent Company - Vietnam Steel Corporation Joint Stock Company

Pursuant to …;

Establishment of the Parent Company - Vietnam Steel Corporation

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PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the State Enterprise Law on November 26, 2003;
Pursuant to the Enterprise Law dated November 29, 2005;
Pursuant to Decree No. 153/2004/NĐ-CP dated August 9, 2004 of the Government on the organization, management of state corporations and the transformation of state corporations and independent state enterprises into parent company - subsidiary models;
Considering the proposal of the Board of Directors of Vietnam Steel Corporation,

DECISION:

Article 1. Establish the Parent Company - Vietnam Steel Corporation (hereinafter referred to as Vietnam Steel Corporation) based on restructuring the Vietnam Steel Corporation Office, South Vietnam Steel Company, Phu My Steel Sheet and Strip Company, dependent accounting units, affiliated units, and branches.

1. The Parent Company - Vietnam Steel Corporation (VSC) is a state enterprise with legal personality, seal, Articles of Organization and Operation; it is entitled to open domestic currency and foreign currency accounts at the State Treasury, domestic and foreign banks in accordance with the law; directly carry out production, business activities, and invest capital in other companies; bear responsibility for preserving and developing state-owned capital at the Parent Company and invested capital in other companies; assume legal rights, obligations, and lawful interests of the previous Vietnam Steel Corporation.

2. Full name: Vietnam Steel Corporation

International trade name in English: VIETNAM STEEL CORPORATION.

Abbreviated name: VNSTEEL.

Abbreviation: VSC

3. Head office: No. 91 Lang Ha Street, Dong Da District, Hanoi City.

Southern branch: No. 56 Thu Khoa Huong Street, District 1, Ho Chi Minh City.

4. The charter capital of Vietnam Steel Corporation is the ownership capital at June 30, 2006, after auditing.

5. Business sectors of Vietnam Steel Corporation:

- Production of steel and other metals, refractory materials, metallurgical auxiliary equipment, and post-rolling steel products;

- Mining iron ore, coal, and fluxes for the steel production industry;

- Import and export, and trading of steel products and raw materials for steel rolling and smelting; scrap metal; rubber, gasoline, oil, gas, and various materials, spare parts, and equipment serving steel production, construction, transportation, machinery, and other industries;

- Design, design consultancy, manufacturing, construction installation of steel production facilities, industrial and civil engineering projects; production and trading of building materials;

- Training, scientific research, technology transfer, and vocational training for the steel production and metal material industries; financial business;

- Hotel, restaurant, tourism, travel services;

- Labor export;

- Other businesses as prescribed by law.

6. Management and operation structure of Vietnam Steel Corporation includes: Board of Directors, Supervisory Board, General Director, Deputy General Directors, Chief Accountant, and supporting staff.

7. Organizational structure of Vietnam Steel Corporation at the time of establishment includes: Vietnam Steel Corporation Office, dependent accounting units, affiliated units, and branches as follows:

- Phu My Steel Sheet and Strip Company;

- Phu My Steel Company;

- Nha Be Metallurgical Rolling Company;

- Thu Duc Metallurgical Rolling Company;

- Bien Hoa Metallurgical Rolling Company.

- Foreign Labor Cooperation Center;

- Metallurgical Design Consultancy Company;

- Phuong Nam Hotel;

- Black Metallurgy Institute;

- Thai Nguyen Mechanical and Metallurgical Vocational Training School;

- Central Branch; - West Branch.

8. Subsidiaries and associated companies with shares or contributions from Vietnam Steel Corporation at the time of establishment are attached as an appendix.

Article 2. Implementation

1. Minister of Industry:

- Direct and monitor the implementation of this Decision;

- Submit to the Prime Minister for appointment of the Chairman and members of the Board of Directors of Vietnam Steel Corporation.

2. Ministry of Finance: determine the charter capital of Vietnam Steel Corporation according to the proposal of the Board of Directors of Vietnam Steel Corporation.

3. Board of Directors of Vietnam Steel Corporation:

- Implement this Decision in accordance with current regulations;

- Tsubmit to the Prime Minister for approval of the Articles of Organization and Operation of Vietnam Steel Corporation;

- Submit to the Prime Minister for approval to appoint the General Director of Vietnam Steel Corporation.

Article 3. This Decision takes effect fifteen days after its publication in the Official Gazette.

Ministers of the Ministries of Industry, Finance, Planning and Investment, Home Affairs, Labor, Invalids and Social Affairs, Governor of the State Bank of Vietnam, Heads of relevant agencies, and the Board of Directors of Vietnam Steel Corporation are responsible for implementing this Decision./.