Decision No. 63/2005/QD-TTg adjusts the reorganization form for some state-owned enterprises under the People's Committee of Thua Thien Hue Province. The enterprises are directed to implement shareholding reform, convert to a parent-subsidiary company model, or dissolve according to regulations.
Scope of application
State-owned enterprises directly under the People's Committee of Thua Thien Hue Province
Key points
- The Chairman of the People's Committee of Thua Thien Hue Province directs the implementation of shareholding reform for enterprises that cannot be reformed to be sold at auction, dissolved, or declared bankrupt.
- The Hue Perfume River Tourism Company and the Thua Thien Hue Construction Installation Company will apply the parent-subsidiary company model when they meet the conditions stipulated in Decree No. 153/2004/NĐ-CP.
- The annex attached to the decision lists the enterprises needing reorganization and the specific reorganization forms.
- The Ministries of Finance, Planning and Investment, Labor, War Invalids and Social Affairs, and Home Affairs shall coordinate with the People's Committee of Thua Thien Hue Province in implementing this plan.
- This Decision takes effect fifteen days from the date of publication in the Official Gazette.
🌐 Social impact of this document
- Positive impact: Shareholding reform and conversion to a parent-subsidiary company model help improve management efficiency and enhance the competitiveness of state-owned enterprises.
- Negative impact: The shareholding reform process may cause significant changes in organizational structure and personnel, affecting the rights of workers.
❓ Frequently asked questions
Which companies will undergo shareholding reform?
The Hue Perfume River Tourism Company and the Thua Thien Hue Construction Installation Company will apply the parent-subsidiary company model when they meet the conditions stipulated in Decree No. 153/2004/NĐ-CP.
How will the shareholding reform be carried out for enterprises that cannot be reformed?
These enterprises will be transferred to auction, dissolution, or bankruptcy and report to the Prime Minister.
When does this Decision take effect?
This Decision takes effect fifteen days from the date of publication in the Official Gazette.
Which Ministries will coordinate with the People's Committee of Thua Thien Hue Province in implementing this plan?
The Ministries of Finance, Planning and Investment, Labor, War Invalids and Social Affairs, and Home Affairs will coordinate.
To how many enterprises does this Decision apply?
The annex attached to the decision lists the enterprises needing reorganization and the specific reorganization forms.
Full text
DECISION
Regarding the adjustment of the restructuring form for certain state-owned enterprisesDecree
People's Committee of Thua Thien-Hue Province.
___________________________________
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decision No. 155/2004/QĐ-TTg dated August 24, 2004 of the Prime Minister on issuing criteria and classification lists for state-owned enterprises and independent accounting member companies under state-owned corporations;
Considering the proposal of the People's Committee of Thua Thien-Hue Province (Circulars No. 04/CN-UB dated January 4, 2005 and No. 65/CN-UB dated January 11, 2005),
DECISION:
Article 1. Adjust the restructuring form and time for certain state-owned enterprises under the People's Committee of Thua Thien-Hue Province as set out in the attached Appendix.
State-owned forest enterprises shall implement restructuring in accordance with Decree No. 200/2004/NĐ-CP dated December 3, 2004 of the Government on restructuring, reforming, and developing state-owned forests.
Article 2. Chairman of the People's Committee of Thua Thien-Hue Province:
1. Direct the implementation of the restructuring and reform of state-owned enterprises directly subordinate which have been approved by Decision No. 64/QĐ-TTg dated January 14, 2003 and this Decision.
For those enterprises that cannot be listed, take the initiative to transfer them to one of the following forms: auction sale, dissolution, bankruptcy, and report The Prime Minister.
2. Based on current regulations and the actual situation of the enterprise, decide the proportion of shares held by the State when selling shares for the first time at each company.
3. Direct the shareholding transformation of the member units of Hue River Tourism Company and Thua Thien-Hue Construction Installation Company; decide to apply the holding company-subcompany model for these two companies when they meet the conditions stipulated in Clause 2, Article 29 of Decree No. 153/2004/NĐ-CP dated August 9, 2004 on the organization and management of state-owned corporations and the transfer of state-owned corporations and independent state-owned enterprises to the holding company-subcompany model; decide to transform the holding company into a joint-stock company after stabilizing operations under the new model.
Article 3. The Ministries of Finance, Planning and Investment, Labor, Invalids and Social Affairs, Home Affairs and related ministries shall be responsible for coordinating with the People's Committee of Thua Thien-Hue Province in implementing this plan.
The Steering Committee for Enterprise Renewal and Development is responsible for urging, guiding, and monitoring the implementation of this plan, and at the same time recommending to Prime Minister to address difficulties encountered during the implementation process.
Article 4. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
The Chairman of the People's Committee of Thua Thien-Hue Province and heads of relevant agencies are responsible for enforcing this Decision./.
DEPUTY PRIME MINISTER
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