Decision No. 34/2003/QĐ-TTg On the establishment of Vietnam Railway Corporation

Pursuant to …;

Regarding the establishment of Vietnam Railway 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 April 20, 1995;

Considering the proposal of the Minister of Transport.

DECISION:

Article 1. Establish Vietnam Railway Corporation based on the reorganization of the current Vietnam Railways Association.

Vietnam Railway Corporation (hereinafter referred to as the Corporation) is a state corporation engaged in business operations and performing management, exploitation, and maintenance tasks for the railway infrastructure system assigned by the State, having legal personality, civil rights and obligations as prescribed by law, being fully responsible for all business activities within the scope of capital managed by the Corporation; having its own seal, assets, and centralized funds, allowed to open accounts at the national treasury and domestic and foreign banks in accordance with the provisions of the law, organized and operated according to the Articles of Association of the Corporation.

The international trading name of Vietnam Railway Corporation is: VIETNAM RAILWAYS.

Abbreviation: VNR.

The main office of the Corporation is located in Hanoi.

Article 2. The Corporation has the following main tasks:

1. Implementing railway transportation business, multimodal transportation within the country and international combined transport; agency services and transportation services; managing, operating, maintaining, and repairing the national railway infrastructure system; consulting, surveying, designing, manufacturing, building new, and repairing specialized railway equipment and machinery products; consulting, surveying, designing, and constructing transportation, water conservancy, industrial, and civil engineering projects; producing and trading construction materials, consumer goods, food; real estate trading, tourism, hotel, import and export of goods, telecommunications and information technology services; printing; labor export; joint ventures and cooperation with organizations both domestically and internationally in railway activities and conducting other business operations as prescribed by law.

2. Receiving and effectively utilizing capital, resources, land, and other sources assigned by the State to fulfill the mission of developing production and business.

3. Organizing research and application of scientific and technological progress; training and enhancing staff and workers to meet the development needs of the industry.

Article 3. Organization and operation

1. The organizational structure of the Corporation includes:

- Board of Directors, Supervisory Board;

- General Director and supporting staff;

- Member units at the time of establishing the Corporation as attached appendices.

2. The organization and operation of the Corporation are specifically regulated in the Articles of Association of the Corporation issued by the Government.

Article 4. The Minister of Transport, after reaching consensus with the Minister of Home Affairs, shall submit to the Prime Minister for the appointment of the Chairman of the Board of Directors, General Director, and other members of the Board of Directors.

Article 5

1. The Board of Directors of the Corporation is responsible for drafting the Articles of Association of the Corporation to be submitted to the Government for issuance; appointing Deputy General Directors and Chief Accountants of the Corporation; directing the implementation of the restructuring plan for member units as attached appendices.

2. The Minister of Finance, in coordination with the Ministry of Transport, shall implement the capital allocation to the Corporation.

Article 6. THIS DECISION SHALL TAKE EFFECT 15 DAYS AFTER THE DATE OF SIGNATURE.

Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen of provincial people's committees under the central government, Board of Directors, General Director of Vietnam Railway Corporation are responsible for implementing this Decision.