Decision No. 327/2005/QĐ-TTg On the establishment of the Parent Company - Vietnam Tobacco Corporation Joint Stock Company

 

Pursuant to …;

Regarding the establishment of the Parent Company - Vietnam National Tobacco Corporation

PRIME MINISTER

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

Pursuant to the Enterprise Law No. 13/1999/QH10 dated June 12, 1999;

Pursuant to the State-Owned Enterprise Law No. 14/2003/QH11 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 - subsidiary models;
Considering the proposal of the Board of Directors of the Vietnam National Tobacco Corporation,

DECISION:

Article 1. Establish the Parent Company - Vietnam National Tobacco Corporation (hereinafter referred to as the Vietnam National Tobacco Corporation) based on the restructuring of the Vietnam National Tobacco Corporation Office, the Tobacco Trading Company, and the Tobacco Import-Export Company currently in existence.

1. The Vietnam National Tobacco Corporation is a state-owned enterprise with legal personality, seal, emblem, Charter of organization and operation; it is entitled to open accounts at banks and State Treasury according to the provisions of the law, and operates independently; it is responsible for inheriting all legal rights and obligations of the Vietnam National Tobacco Corporation.

2. Full name: Vietnam National Tobacco Corporation.

English name: Vietnam National Tobacco Corporation.

Abbreviation and trading name: Vinataba.

3. Head office: 25A Ly Thai To Street, Hoan Kiem District, Hanoi City.

4. The charter capital of the Vietnam National Tobacco Corporation is the ownership capital at the time of June 30, 2005, after auditing.

5. Business activities of the Vietnam National Tobacco Corporation:

- Investment, production, and business in the tobacco industry in Vietnam and abroad.

- Investment of capital and assets in enterprises both domestically and internationally.

- Investment in construction and business of housing, urban areas, and industrial zones.

- Export and import trade.

- Production and business of food and beverages.

- Production and business of clothing.

- Travel agency business within and outside the country; transportation of goods and passengers.

- Agriculture and animal husbandry.

- Other businesses as prescribed by law.

6. Management and operational structure of the Vietnam National Tobacco Corporation includes: Board of Directors, Supervisory Board, General Director, Deputy General Directors, Chief Accountant, and supporting staff.

7. Organizational structure of the Vietnam National Tobacco Corporation includes:

a) The General Corporation Office.

b) Subsidiary companies:

- Tobacco Trading Company,

- Tobacco Import-Export Company.

8. Subsidiaries include:

a) Subsidiaries held 100% of the charter capital by the Vietnam National Tobacco Corporation:

- Saigon Tobacco Company,

- Thang Long Tobacco Company,

- Thanh Hoa Tobacco Company,

- Bac Son Tobacco Company,

- Long An Tobacco Company,

- Ben Tre Tobacco Company,

- Cuu Long Tobacco Company,

- Dong Thap Tobacco Company,

- An Giang Tobacco Company,

- Institute of Economic and Technical Research on Tobacco.

b) Joint-stock companies in which the Vietnam National Tobacco Corporation holds controlling shares:

- Cat Loi Joint-Stock Company,

- Hoa Viet Joint-Stock Company,

- Ngan Son Joint-Stock Company,

- Hai Ha Confectionery Joint-Stock Company.

c) Limited liability companies with two or more members in which the Vietnam National Tobacco Corporation has controlling equity:

- Da Nang Tobacco Company.

d) Joint ventures with foreign partners in which the Vietnam National Tobacco Corporation has controlling equity:

- Hai Ha Confectionery - Kotobuki Joint Venture,

- Vinasa Tobacco Joint Venture.

9. Associated companies with non-controlling equity of the Vietnam National Tobacco Corporation:

- BAT - Vinataba Joint Venture,

- Vina - ToYo Joint Venture,

- Baominh Joint-Stock Corporation,

- Eximbank Joint-Stock Commercial Bank.

Article 2. Implementation organization:

- Propose to the Prime Minister to supplement additional members to the Board of Directors of Vietnam Coal-Mineral Industries Group.

- Responsible for directing and monitoring the implementation of this Decision.

- Transfer the companies mentioned in Clause 7, Article 1 of this Decision to become dependent accounting units of the Vietnam National Tobacco Corporation.

- Submit to the Prime Minister for approval to appoint the Chairman of the Board of Directors and members of the Board of Directors of the Vietnam National Tobacco Corporation.

2. The Ministry of Finance shall approve the financial regulations and determine the level of charter capital of the Vietnam National Tobacco Corporation according to the proposal of the Board of Directors of the Vietnam National Tobacco Corporation.

3. The Board of Directors of the Vietnam National Tobacco Corporation:

- Implement this Decision according to current regulations.

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

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

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