Decision No. 670-TTg on the establishment of Vietnam Cement Corporation

Pursuant to …;

Regarding the establishment of Vietnam National Cement 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 Construction,

DECISION:

Article 1

Establish Vietnam National Cement Corporation based on reorganizing production, circulation, and public service units of the cement industry under the Ministry of Construction.

Vietnam National Cement Corporation is a state-owned enterprise with legal personality, having a seal, organizational and operational charter, bank accounts both domestically and internationally as prescribed by the State, capable of autonomous business operations, economic accounting, and independent or dependent accounting for its affiliated units according to the corporation's classification.

Vietnam National Cement Corporation has the international trade name of VIETNAM NATIONAL CEMENT CORPORATION (VNCC), abbreviated as VINACEMENT, headquartered in Hanoi City.

Vietnam National Cement Corporation is subject to state management by the Ministry of Construction 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 National Cement Corporation are as follows:

1- Implementing cement trading tasks, asbestos cement sheet trading, cement product trading, material equipment and spare parts trading according to the national cement industry development plan and plan; actively engaging in business activities including from planning development, investment preparation, basic construction investment, installation, production, product consumption, import and export, material equipment supply; 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 technological progress application work and training and staff development work.

3- Receiving, preserving, and developing capital assigned by the State to fulfill business tasks and develop the corporation.

Article 3

The organizational structure and operation of Vietnam National Cement Corporation include:

1- Board of Management,

2- General Director and Deputy General Directors,

3- Specialized departments assisting the General Director,

4- Affiliated 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 Construction after reaching consensus with the Minister and the Head of the Government's Organization and Cadre Affairs Department.

Article 5

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

2- The General Director is appointed by the Prime Minister upon the proposal of the Minister of Construction based on the recommendation of the Board of Management and reaching consensus with the Minister and the Head of the Government's Organization and Cadre Affairs Department.

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

Article 6

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

Approving the restructuring plan for operating and public service units currently active in the cement industry to compile a list of affiliated units of the corporation;

Drafting the Charter of the Corporation's Organization and Operation to be submitted forapproval by the Prime Minister in November 1994;

Completing the arrangement of personnel at the corporate level in November 1994;

Completing the capital transfer to the corporation by the end of December 1994.

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

This Decision takes effect from the date of signing.

The Minister of Construction, ministers, heads of ministerial-level agencies, agencies under the Government, Chairmen of People's Committees of provinces and centrally-administered cities, the Board of Management, and the General Director of Vietnam National Cement Corporation are responsible for implementing this Decision.