Decision No. 52/QD-TTg approves the Plan to transfer Vietnam National Industrial Construction Corporation to operate under the parent company - subsidiary model, including establishing subsidiaries and associated companies, and conducting shareholding reform according to a set schedule. This decision takes effect from the date of signing.
Key points
- Vietnam National Industrial Construction Corporation will be transformed into a parent company - subsidiary model, with specific subsidiaries and affiliates identified.
- Subsidiaries held 100% by the Corporation will undergo shareholding reform in 2007 and 2008.
- The Ministry of Industry is responsible for directing the implementation of the Plan, deciding on the establishment of the parent company, and approving the Articles of Organization and Operation of the Corporation.
- The Board of Directors of the Corporation will issue the Financial Management Regulations after receiving comments from the Ministry of Finance.
- This decision takes effect from the date of signing.
🌐 Social impact of this document
- Positive impacts include the transformation of the operational model which helps Vietnam National Industrial Construction Corporation enhance management efficiency and sustainable development.
- Negative impacts may include costs associated with the shareholding reform process and effects on the interests of current shareholders.
❓ Frequently asked questions
Which subsidiaries will the parent company - Vietnam National Industrial Construction Corporation establish?
The parent company will establish subsidiaries including: Limited Liability Company Chemical Installation, Electrical Installation 2, Electrical Installation 4; and joint-stock companies such as An Giang Centrifugal Concrete, Thu Duc Centrifugal Concrete, Steel Structure Construction, Industrial Construction Investment, Industrial Installation and Production, Construction Investment No. 5, Chemical Mechanical Installation.
When will the subsidiaries be listed?
According to the decision, limited liability companies will be converted into joint-stock companies in 2007, and Vietnam National Industrial Construction Corporation will be converted into a joint-stock company in 2008.
What responsibilities does the Ministry of Industry have in implementing this Plan?
The Ministry of Industry is responsible for directing the implementation of the Plan, deciding on the establishment of Vietnam National Industrial Construction Corporation, and approving the Articles of Organization and Operation of the Corporation. The Ministry will also direct subsidiaries to implement shareholding reform according to the proposed schedule.
From when does this decision take effect?
This decision takes effect from the date of signing.
What actions will the Board of Directors of Vietnam National Industrial Construction Corporation undertake after this decision is implemented?
The Board of Directors of Vietnam National Industrial Construction Corporation will issue the Financial Management Regulations of the Corporation after receiving comments from the Ministry of Finance.
Full text
Pursuant to …;
Approving the Plan to convert Vietnam Industrial Construction Corporation to operate under the holding company - subsidiary model
operates under the holding company - subsidiary model
_________________________
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on State-Owned Enterprises dated 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 and management of state-owned corporations and the conversion of state-owned corporations and independent state-owned enterprises to the holding company - subsidiary model;
Considering the proposal of the Minister of Industry.
DECISION:
Article 1. Approves the Plan to convert Vietnam Industrial Construction Corporation to operate under the holding company - subsidiary model with the following contents:
1. The holding company - Vietnam Industrial Construction Corporation is a state-owned enterprise formed based on the restructuring of the Office, dependent accounting units of Vietnam Industrial Construction Corporation, and Ha Bac Chemical Machinery Company.
2. Subsidiaries include:
a) Limited liability companies wholly owned by the holding company - Vietnam Industrial Construction Corporation:
- Vietnam Chemical Installation Limited Liability Company;
- Vietnam Electrical Installation 2 Limited Liability Company;
- Vietnam Electrical Installation 4 Limited Liability Company.
b) Joint stock companies in which the holding company holds more than 50% of the charter capital:
- An Giang Centrifugal Concrete Joint Stock Company;
- Thu Duc Centrifugal Concrete Joint Stock Company;
- Vietnam Construction Steel Structure Joint Stock Company;
- Vietnam Industrial Construction Investment Joint Stock Company;
- Vietnam Industrial Installation and Production Joint Stock Company;
- Vietnam Construction Investment 5 Joint Stock Company;
- Vietnam Chemical and Mechanical Installation Joint Stock Company;
3. Associated companies in which the holding company holds less than 50% of the charter capital:
- Vietnam Industrial Construction Joint Stock Company;
- Vietnam Industrial Design and Consulting Joint Stock Company;
- Central Vietnam Construction Investment Joint Stock Company;
- Vietnam Installation Joint Stock Company;
- Vietnam Electrical Installation 1 Joint Stock Company;
- Vietnam Industrial Investment and Production Joint Stock Company;
- South Vietnam Installation and Construction Joint Stock Company;
- Hong Nam Mechanical Joint Stock Company.
4. Vietnam Industrial Construction Corporation operates under the holding company - subsidiary model, implementing accounting and investing capital in subsidiaries and associated companies according to the Charter on organization and operation and Financial Management Regulations of the holding company.
5. The management and operation structure of the holding company - Vietnam Industrial Construction Corporation includes: Board of Directors, Supervisory Board, General Director, Deputy General Directors, Chief Accountant, and supporting staff.
Article 2. The holding company - Vietnam Industrial Construction Corporation and subsidiaries wholly owned by the holding company - Vietnam Industrial Construction Corporation will implement shareholding reform according to the following schedule:
a) In 2007: convert the limited liability companies Vietnam Chemical Installation, Vietnam Electrical Installation 2, and Vietnam Electrical Installation 4 into joint stock companies.
b) In 2008: convert the holding company - Vietnam Industrial Construction Corporation into a joint stock company.
Article 3. Assignment of tasks:
1. Ministry of Industry:
- Directing the implementation of the Plan; deciding to establish the holding company - Vietnam Industrial Construction Corporation as stipulated in Article 1 of this Decision in accordance with current regulations;
- Approving the Charter on organization and operation of the holding company - Vietnam Industrial Construction Corporation;
- Directing the holding company - Vietnam Industrial Construction Corporation and subsidiaries wholly owned by the holding company - Vietnam Industrial Construction Corporation to implement shareholding reform according to the schedule set out in Article 2 of this Decision.
2. The Board of Directors of the holding company - Vietnam Industrial Construction Corporation decides to issue the Financial Management Regulations of the holding company - Vietnam Industrial Construction Corporation after receiving the opinion of the Ministry of Finance.
Article 4. This Decision shall take effect from the date of signing.
The Ministers of Industry, Finance, Planning and Investment, Home Affairs, Labor, War Invalids and Social Affairs, Governor of the State Bank of Vietnam, Board of Directors of Vietnam Industrial Construction Corporation, and relevant agencies are responsible for enforcing this Decision./.
VICE-PRESIDENT OF THE GOVERNMENT
Relations map
Click a document to open. A red border = a relation that changes validity.
Translations
This document is available in the following languages: