Decision No. 320/2005/QĐ-TTg Transfers the Bến Tre Tobacco Factory under the Vietnam Tobacco Corporation to become a Limited Liability Company with One Member

DECISION OF THE PRIME MINISTER

Transfer of Ben Tre Tobacco Factory under Vietnam Tobacco Corporation

become a joint stock company with single member responsibility

PRIME MINISTER

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

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

Pursuant to Decree No. 63/2001/NĐ-CP dated September 14, 2001 of the Government on the conversion of state-owned enterprises and enterprises of political organizations and political-social organizations into limited liability companies with one member;

Considering the proposal of the Board of Directors of the Vietnam National Tobacco Corporation,

DECISION:

Article 1. Transfer Ben Tre Tobacco Factory - an independent accounting subsidiary of Vietnam Tobacco Corporation into Ben Tre Tobacco Limited Liability Company with One Member.

Ben Tre Tobacco Limited Liability Company with One Member shall have its own seal, be entitled to open accounts at domestic and foreign banks in accordance with the provisions of the law, and operate in accordance with the Articles of Association of the Company and the Enterprise Law.

- Full name: Ben Tre Tobacco Limited Liability Company with One Member.

- Abbreviation: Ben Tre Tobacco Company.

- International trade name: Ben Tre tobacco company limited.

- Abbreviation: Vinataba Ben Tre.

- Registered capital as of June 30, 2005: 68,976,963,712 Vietnamese dong (Sixty-eight billion, nine hundred seventy-six million, nine hundred sixty-three thousand, seven hundred twelve Vietnamese dong).

- Head office: 90A3 Dong Khai Avenue, Phu Khuong Ward, Ben Tre City, Ben Tre Province.

Article 2. Business activities of the Company: production and trading of cigarette tobacco; cultivation and processing of tobacco leaves; trading of cigarette raw materials and auxiliary materials; trading of spare parts and equipment for the cigarette industry; import and export of raw materials, auxiliary materials, and equipment for the cigarette industry; aquaculture and other business activities as prescribed by law.

Article 3. Organization and operation:

1. The management structure of the Company follows the model: Chairman of the Company, General Director, and supporting staff.

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

Article 4. The State-authorized representative body for the owner is the Board of Directors of the Vietnam Tobacco Corporation.

Address: 25A Ly Thai To Street, Hoan Kiem District, Hanoi. The Board of Directors of Vietnam Tobacco Corporation is responsible for exercising the rights of the owner over Ben Tre Tobacco Limited Liability Company with One Member in accordance with current regulations and the Articles of Association of the Company.

Article 5. Ben Tre Tobacco Limited Liability Company with One Member is responsible for receiving and using effectively the capital and assets transferred by the Board of Directors of Vietnam Tobacco Corporation to fulfill the mission of developing production and business operations; inheriting all rights and obligations of Ben Tre Tobacco Factory.

Article 6. The Chairman of Ben Tre Tobacco Limited Liability Company with One Member is responsible for drafting the Articles of Organization and Operation of the Company to be submitted to the Board of Directors of Vietnam Tobacco Corporation for approval.

Article 7. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Board of Directors of Vietnam Tobacco Corporation, the Director of Ben Tre Tobacco Factory, and the Chairman of Ben Tre Tobacco Limited Liability Company with One Member are responsible for implementing this Decision./.