Decision No. 633/TTg On the establishment of Vietnam Precious Stones and Gold Corporation

 DECISION

Regarding the establishment of Vietnam Precious Stones and Gold Corporation

PRIME MINISTER

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

Pursuant to the State Enterprise Law on April 20, 1995;

To reorganize business activities in the field of precious stones and gold mining;

Considering the proposal of the Minister of Heavy Industry, the Minister, and the Head of the Government Organization-Cadre Board;

Pursuant to …;

Article 1

Establish Vietnam Precious Stones and Gold Corporation based on the restructuring and organization of Vietnam Precious Stones Company, Precious Stones Mining Enterprise No. 1, Lam Dong Gold Company, Gold Company 392, Gold Enterprise 386 under the Rare Minerals Corporation of the Ministry of Heavy Industry, Precious Stones Mining Enterprise No. 2 of Nghe An Province, economic units of the military currently operating in the field of precious stones, and newly establishing some other member units.

Vietnam Precious Stones and Gold Corporation (hereinafter referred to as the Corporation) is a state corporation with legal personality, having its own seal, separate bank accounts, and organized and operated according to the Articles of Association of the Corporation approved by the Government.

The international trading name of the Corporation is VIETNAM NATIONAL GEM AND GOLD CORPORATION, abbreviated as VIGEGO.

The headquarters of the Corporation is located in Hanoi City.

Article 2

The Corporation has the following main tasks:

1. Conducting surveys, explorations, mining of precious stones and gold, and associated minerals; processing and manufacturing jewelry and decorative items from precious stones; buying, selling, exporting, and importing gold, precious stones, jewelry, decorative items, materials, and technological equipment for the precious stones and gold industry; organizing domestic and international auctions for precious stones; providing appraisal and trading services for precious stones; conducting other business activities in accordance with the law and performing other tasks assigned by the state; engaging in joint ventures and collaborations with domestic and foreign economic organizations in compliance with state laws and policies.

2. Receiving and effectively utilizing natural resources, land, capital, and other resources allocated by the state to carry out the aforementioned tasks.

3. Organizing and managing research and application of scientific and technological advancements, training, and development of cadres and workers within the Corporation; Training gemologists, technical workers for processing and manufacturing jewelry and decorative items from precious stones.

Article 3

The organizational structure of the Corporation includes:

The Board of Directors and the Supervisory Board;

General Director and supporting machinery;

Member units of the Corporation include:

a. Hanoi Precious Stones and Gold Company, Nghe An Precious Stones and Gold Company, Lam Dong Precious Stones and Gold Company, Military Precious Stones and Gold Company, formed based on the restructuring and organization of participating units listed in Article 1 of this Decision;

b. Newly established member units: Hanoi Precious Stones and Jewelry Center, Yen Bai Precious Stones and Gold Company, Central Highlands Precious Stones and Gold Company, Northern Vietnam Precious Stones and Gold Company, Ho Chi Minh City Precious Stones and Gold Company, Mine Exploration Survey Company, and other units.

Article 4

1. The Minister, Head of the Government Organization-Cadre Board shall submit the Prime Minister's decision to appoint the Chairman and other members of the Board of Directors, and the General Director of the Corporation.

2. The Minister, Head of the Government Organization-Cadre Board shall decide to appoint Deputy General Directors and Chief Accountants of the Corporation upon the recommendation of the General Director, based on the proposal of the Board of Directors of the Corporation.

Article 5

1. The Board of Directors of the Corporation shall base on this decision and the model articles of association regarding the organization and operation of state corporations issued together with Decree No. 39/CP dated June 27, 1995, to draft the articles of association of the Corporation for submission to the Government for approval.

2. The Minister of Heavy Industry, the Minister of Defense, and the Chairman of the People's Committee of Nghe An Province shall be responsible for implementing the handover of participating units listed in Article 1 of this Decision to the Corporation.

3. The Minister of Finance shall take the lead, coordinating with the Minister of Heavy Industry, the Minister of Defense, and the Chairman of the People's Committee of Nghe An Province to implement the allocation of capital to the Corporation.

Article 6

This Decision takes effect from the date of issuance.

The Minister, Head of the Government Organization-Cadre Board, the Minister of Heavy Industry, the Minister of Finance, the Minister of Defense, the Chairman of the People's Committee of Nghe An Province, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen of provincial and municipal People's Committees directly under the central government, the Board of Directors, and the General Director of Vietnam Precious Stones and Gold Corporation are responsible for enforcing this Decision./.