Decision No. 83/2004/QD-TTg On the trial organization and operation according to the Parent Company - Subsidiary model at Tan Thuan Industrial Development Corporation under the People's Committee of Ho Chi Minh City

Pursuant to …;

On piloting the organization and operation under the Parent Company - Subsidiary model at Tan Thuan Industrial Development Corporation under the People's Committee of Ho Chi Minh City At Tan Thuan Industrial Development Corporation under the People's Committee of Ho Chi Minh City

______________________________

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

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

Pursuant to the Enterprise Law dated June 12, 1999;

Pursuant to the proposal of the People's Committee of Ho Chi Minh City,

DECISION:

Article 1. Approving the pilot project proposal for the Parent Company - Subsidiary organizational model at Tan Thuan Industrial Development Corporation under the People's Committee of Ho Chi Minh City, with the following contents:

1. Parent Company: Tan Thuan Industrial Development Corporation (IPC) is a state-owned enterprise directly carrying out production and business activities and investing capital in other companies, responsible for preserving and developing state capital at the Parent Company and in other invested companies.

2. Subsidiaries have legal personality, separate assets, names, management structures, and bear civil liability within the scope of their assets according to the provisions of law corresponding to the legal form of the Subsidiary. Subsidiaries can be Limited Liability Companies with One Member, Joint Stock Companies, or Limited Liability Companies with Multiple Members, including:

a) Limited liability companies:

- Saigon Electronics and Information Technology Limited Liability Company.

b) Joint-stock companies:

- Hiep Phuoc Industrial Zone Construction and Business Joint Stock Company, - Southern Saigon Development Joint Stock Company.

3. The Parent Company has capital invested in the following companies:

- Tan Thuan Export Processing and Industrial Zone Joint Venture Construction and Business Company,

- Phu My Hung Joint Venture Company,

- Phong Phu Industrial Zone Joint Stock Company,

- Tan Thuan Export Processing Zone Service Limited Liability Company,

- Tan Thuan Industrial Development College of Applied Science and Business Management.

The charter capital structure, business sectors of the Parent Company and Subsidiaries; organization and management of the Parent Company; relationships between the Parent Company and the state owner, and with Subsidiaries and associated companies; the name of the agency appointed as the representative of the state owner at the Parent Company shall be stipulated in the Charter of the Parent Company's Organization and Operation.

Article 2

1. Entrust the Chairman of the People's Committee of Ho Chi Minh City:

a) To direct the implementation of this Project. To take the lead and coordinate with relevant agencies in:

- Regulations on the handling of capital, assets, finance, and labor when converting Tan Thuan Industrial Development Corporation to operate under the Parent Company - Subsidiary model.

- Monitoring the operation of this model during the pilot period to promptly correct, draw lessons, and report to the Prime Minister.

b) Deciding to establish the Parent Company and Subsidiaries mentioned in Clause 1 and 2 of Article 1 of this Decision in accordance with current regulations.

c) Submitting the Parent Company's Charter for approval by the Prime Minister.

2. Entrust the Minister of Finance to approve the financial regulations for the pilot program of the parent company based on the proposal of the People's Committee of Ho Chi Minh City.

Article 3. 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 Ho Chi Minh City, Ministers of Finance, Planning and Investment, Home Affairs, Labor, Invalids and Social Affairs, Construction, and Heads of relevant agencies are responsible for implementing this Decision./.