Decision No. 314/2005/QD-TTg On Approving the Pilot Project for Establishing the Vietnam Textile and Garment Corporation

 

Pursuant to …;

Regarding the approval of the pilot project to establish the Vietnam Textile and Garment Group

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Enterprise Law dated June 12, 1999;

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to Decree No. 153/2004/NĐ-CP dated August 9, 2004 of the Government on the organization and management of state-owned holding corporations and the transformation of state-owned holding corporations and independent state-owned companies into parent company-subcompany models;

Considering the proposal of the Board of Directors of the Vietnam Textile and Garment Corporation,

DECISION:

Article 1. Approves the pilot project to establish the Vietnam Textile and Garment Group operating under the parent company-subcompany model:

1. The parent company - Vietnam Textile and Garment Group (hereinafter referred to as the Vietnam Textile and Garment Group) is a state-owned enterprise with the function of directly producing and trading, and investing financially in other enterprises, controlling subcompanies through capital, assets entrusted by the State, technology, brand, and market.

The Vietnam Textile and Garment Group is established based on the reorganization and restructuring of the Vietnam Textile and Garment Corporation and its affiliated units, aiming to create a strong economic group with advanced technology, modern management, and diversified business activities, with the main business being the textile and garment industry, investment, and financial trading.

2. The management and operation structure of the Vietnam Textile and Garment Group includes: the Board of Directors, the Audit Board, the General Director, Deputy General Directors, Chief Accountant, and supporting staff. The Board of Directors represents the direct state ownership at the Vietnam Textile and Garment Group, consisting of a maximum of nine members, including the Chairman of the Board of Directors and the Head of the Audit Board as full-time members. Members of the Board of Directors of the Vietnam Textile and Garment Group are appointed by the Prime Minister.

The General Director of the Vietnam Textile and Garment Group is appointed by the Board of Directors or contracted after obtaining the Prime Minister's approval.

3. The Vietnam Textile and Garment Group is responsible for inheriting all legal rights and obligations of the Vietnam Textile and Garment Corporation as stipulated by law.

4. The relationship between the Vietnam Textile and Garment Group and the state owner and subcompanies, associated companies shall be carried out in accordance with the provisions of the law and the Charter of the Organization and Operation of the Vietnam Textile and Garment Group.

5. The organizational structure of the parent company - Vietnam Textile and Garment Group at the time of establishment includes dependent accounting units:

- Vietnam Textile and Garment Import-Export Company,

- Service Trade Company No. 1,

- Ho Chi Minh City Textile and Garment Trading Company,

- Vietnam Fashion Business Company,

- An Thinh Vinatex Investment and Construction Company,

- Consulting and Investment Service Company,

- Foreign Labor Cooperation Company,

- Yen My Dyeing Company,

- Son Tra Weaving Company,

- Can Tho Branch of the Vietnam Textile and Garment Corporation.

6. Subcompanies held 100% of the charter capital by the Vietnam Textile and Garment Group:

a) Companies operating under the parent company-subcompany model:

- Viet Tien Garment Company,

- Hanoi Textile and Garment Company,

- Phong Phu Weaving Company.

b) Limited liability companies with one member:

- Nam Dinh Weaving Company,

- Hoa Tho Textile and Garment Company,

- March 8 Weaving Company,

- Viet Thang Weaving Company,

- Vietnam Cotton Company,

- Dong Xuan Knitting Company,

- Dong A Textile and Garment Company,

- Dong Phuong Knitting Company,

- Textile and Garment Financial Company.

7. Subcompanies held more than 50% of the charter capital by the Vietnam Textile and Garment Group:

- Hanoi Industrial Textile and Fabric Joint Stock Company,

- Hue Textile and Garment Joint Stock Company,

- Vinh Phu Weaving Company,

- Tra Ly Spinning Joint Stock Company,

- Nam Dinh Silk Weaving Company,

- Phu Bai Spinning Joint Stock Company,

- Vietnam Wool Company,

- Dong Nam Weaving Joint Stock Company,

- Nha Trang Weaving Joint Stock Company,

- Thanh Cong Textile and Garment Joint Stock Company,

- Thang Loi Textile and Garment Joint Stock Company,

- Duc Giang Garment Joint Stock Company,

- Chien Thang Garment Joint Stock Company,

- Thang Long Garment Joint Stock Company,

- May 10 Garment Joint Stock Company,

- Dap Cau Garment Joint Stock Company,

- Hung Yen Garment Joint Stock Company,

- Nam Dinh Garment Joint Stock Company,

- Danang Textile and Garment Production and Export-Import Joint Stock Company,

- Nha Be Garment Joint Stock Company,

- Phuong Dong Garment Joint Stock Company,

- Gia Lam Textile Machinery Joint Stock Company,

- Vinatex Tan Tao Investment Joint Stock Company,

- Binh An Auxiliary Materials Joint Stock Company,

- Phu Binh Infrastructure Development Investment Joint Stock Company,

- Pho Noi Textile and Garment Infrastructure Development Joint Stock Company,

- Textile and Garment Production and Service Company.

8. Associated companies held less than 50% of the charter capital by the Vietnam Textile and Garment Group:

- Hoang Thi Loan Textile and Garment Company,

- Phuoc Long Textile and Garment Production and Service Joint Stock Company,

- Binh Dinh Garment Company,

- Dong Nai Garment Joint Stock Company,

- Binh Minh Garment Joint Stock Company,

- Friendship Garment Joint Stock Company,

- Ho Guom Garment Joint Stock Company,

- Ninh Binh Garment Joint Stock Company,

- Saigon Textile and Garment Joint Stock Company,

- Thu Duc Textile Machinery Joint Stock Company,

- Hung Yen Textile Machinery Joint Stock Company,

- Nam Dinh Textile Machinery Joint Stock Company,

- Hoa Binh Garment Company,

- Thanh Dong Garment Company,

- Exports Garments Limited Liability Company,

- Fashion Garment Joint Stock Company,

- Clipsal-Vietnam Limited Liability Company,

- Domatex Joint Venture Dyehouse and Finishing Factory,

- Trimax Joint Venture Freight Forwarding and Transportation Limited Liability Company,

- Vinatex Hong Kong.

9. Public service units:

- Institute of Textile and Garment Economics and Technology,

- Fashion Design Institute,

- Research and Development Institute of Cotton Plant,

- Ha Noi Textile and Garment Fashion College,

- Technical Secondary School of Garment and Fashion 2,

- Secondary Technical School of Textile and Garment Economics and Technology,

- Textile and Garment Health Center.

10. The addition of new subcompanies and associated companies shall be carried out by the Board of Directors of the Vietnam Textile and Garment Group in accordance with the provisions of the law.

Article 2. Implementation organization:

1. The Ministry of Industry is responsible for directing and monitoring the implementation of this Decision. Timely detection and resolution of arising issues, reporting to the Prime Minister for resolution of matters exceeding authority. Taking the lead and coordinating with relevant agencies to study and propose to the Prime Minister new issues that need piloting during the implementation process.

2. The Ministers of the Ministries of Home Affairs, Finance, Planning and Investment, Labour - Invalids and Social Affairs; the Heads of relevant agencies, the Steering Committee for Enterprise Reform and Development shall, within their respective functions and duties, be responsible for coordinating with the Ministry of Industry and the Board of Directors of the Vietnam National Textile and Garment Corporation in carrying out the tasks mentioned above.

Article 3. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Ministers of the Ministries of Industry, Finance, Planning and Investment, Labour - Invalids and Social Affairs, Home Affairs; the Heads of relevant agencies, the Steering Committee for Enterprise Reform and Development, the Board of Directors of the Vietnam National Textile and Garment Joint Stock Corporation shall be responsible for implementing this Decision./.