Decision No. 562-TTg Regarding the establishment of Vietnam Electricity Corporation

Pursuant to …;

OF THE PRIME MINISTER

Regarding the establishment of Vietnam Electricity Corporation

PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

To implement Decision No. 91-TTg dated March 7, 1994 of the Prime Minister on piloting the establishment of business groups;

Considering the proposal of the Minister of Energy,

DECISION:

Article 1

Establish Vietnam Electricity Corporation based on restructuring production, circulation, and public service units under the Ministry of Energy.

Vietnam Electricity Corporation is a state-owned enterprise with legal personality, having its own seal, organizational and operational charter, bank accounts both domestically and internationally according to state regulations, being autonomous in business operations, conducting economic accounting, and its member units independently or dependently accounting according to the corporation's classification.

Vietnam Electricity Corporation has the international trade name of ELECTRICITY OF VIETNAM (abbreviated as EVN), headquartered in Hanoi City.

Vietnam Electricity Corporation is subject to state management by the Ministry of Energy and other state agencies as prescribed by law; it may relate to ministries, state committees, central and local state agencies to fulfill its tasks.

Article 2

The main tasks of Vietnam Electricity Corporation are as follows:

1- Implementing electricity business tasks according to the national power industry planning and development plan; actively managing business activities, including from planning development, investment preparation, basic construction investment, survey and design, installation organization, production transmission, product consumption, import and export, supply of materials and equipment; cooperating, joint ventures, and associations with domestic and foreign economic organizations in accordance with state laws and policies.

2- Organizing and managing scientific research and technology application work and staff training and development.

3- Receiving, preserving, and developing capital assigned by the state for the corporation's business and development tasks.

Article 3

The organizational structure and operation of Vietnam Electricity Corporation include:

1- Board of Management,

2- General Director and Deputy General Directors,

3- Specialized departments assisting the General Director,

4- Member units of the corporation.

Article 4

The Board of Management is the agency authorized by the state to perform certain functions of the state owner representative towards the corporation.

The Chairman and other members of the Board of Management are appointed by the Prime Minister upon the proposal of the Minister of Energy after reaching consensus with the Minister and the Head of the Government Organization and Cadre Affairs Department.

Article 5

1- The General Director manages the corporation's business operations under the head system, representing the corporation legally in business relations and bearing responsibility before the law and the Board of Management for the corporation's activities.

2- The General Director is

3- Deputy General Directors are appointed by the Minister of Energy upon the proposal of the General Director after reaching consensus with the Minister and the Head of the Government Organization and Cadre Affairs Department.

Article 6

Assign the Minister of Energy to direct all preparatory work related to ensuring that Vietnam Electricity Corporation stabilizes its new organization and commences operations from January 1, 1995, including the following tasks:

- Approving the restructuring plan of operating business and public service units within the power industry to compile a list of corporation member units;

- Drafting the corporation's organizational and operational charter to be submitted for approval by the Prime Minister in November 1994;

- Completing the corporation's top-level personnel arrangement in October 1994;

- Completing the capital transfer to the corporation before December 1994.

, Clause 1, Clause 2 Article 7a of this Regulation.

This Decision takes effect from the date of signing.

The Minister of Energy, ministers, heads of ministerial-level agencies, provincial People's Councils Chairmen, the Board of Management, and the General Director of Vietnam Electricity Corporation are responsible for implementing this Decision./.