Decision No. 982/QĐ-TTg Transfers the Parent Company of the Northern Foodstuff Corporation to a State-owned Joint Stock Company with One Member

Pursuant to …;

Transfer the Parent Company - Northern Food Corporation to

a state-owned joint stock company with one member

owned by the State

PRIME MINISTER

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

Pursuant to the Law on State-Owned Enterprises dated November 26, 2003;

Pursuant to the Enterprise Law dated November 29, 2005;

Pursuant to the Government Decree No. 25/2010/NĐ-CP dated March 19, 2010 on converting state-owned enterprises into state-owned joint stock companies with one member and organizing management of such companies;

Considering the proposal of the Board of Directors of Northern Food Corporation,

Pursuant to …;

Article 1. Transfer the Parent Company - Northern Food Corporation (hereinafter referred to as Northern Food Corporation) to a state-owned joint stock company with one member owned by the State with the following main contents:

1. Name after conversion:

a. Full name: NORTHERN FOOD CORPORATION.

b. Trade name: NORTHERN FOOD CORPORATION.

c. International trade name: VIETNAM NOTHERN FOOD CORPORATION LTD.

d. Abbreviation: VINAFOOD 1.

2. Type of enterprise: a joint stock company with one member.

3. Northern Food Corporation shall have legal personality under Vietnamese law; it shall have its own seal; it shall be allowed to open bank accounts according to the provisions of law; it shall organize and operate in accordance with the Enterprise Law, relevant laws and regulations, and the charter of organization and operation approved by the Prime Minister.

4. Head office: No. 6 Ngo Quyen Street, Ly Thai To Ward, Hoan Kiem District, Hanoi City.

5. Business sectors:

a. Main business sectors:

- Grain sector: purchasing, storing, processing, wholesaling, retailing, reserving, circulating grains, agricultural products, foodstuffs, stabilizing prices, ensuring national food security; importing and exporting grains, agricultural products, and supplying specialized materials and equipment for grain and food production and business; importing and exporting agricultural products, agricultural materials, fertilizers, and other essential consumer goods; importing corn, wheat flour, wheat powder, and other goods that Vietnam cannot produce sufficiently; producing, trading, and importing and exporting livestock feed raw materials and finished products;

- Salt sector: producing and trading salt imports and exports; trading chemical salt-making materials; consulting investment (excluding legal, financial, accounting, auditing, tax, securities consulting); construction and development of the salt industry; building specialized salt production facilities and other food processing facilities; installing specialized salt production facility equipment and other food processing facilities.

b. Business sectors related to main business sectors:

- Aquaculture and related service activities;

- Producing and processing various types of cakes and candies;

- Joint ventures and collaborations with domestic and foreign organizations in production, business services;

- Importing raw materials, machinery, equipment, transportation means, construction materials, and consumer goods for production and business operations.

c. Other business sectors:

- Designing and constructing, producing construction materials; industrial, civil, transportation, water conservancy construction projects; interior and exterior decoration of buildings;

- Producing, trading, and importing and exporting various types of plastic raw materials and products; wood processing and producing wood, bamboo, rattan products; trading in imported and exported cosmetics; labor export; wholesaling, retailing, and agency sales of gasoline, fuel;

- Trading: hotels, catering, refreshments; parking lots for passenger vehicles and accompanying services; passenger and cargo transportation; real estate; leasing assets: houses, warehouses, offices (domestic and foreign);

- Services: transportation, hotels; maintenance and repair of transportation means, motor vehicles; car washing and cleaning; bicycle, motorcycle, transportation means, cargo storage and keeping; entertainment, cultural sports; tourism.

Investment and business operations in related business sectors and other business sectors must comply with current regulations.

6. Registered capital: 3,068 billion VND (Three thousand sixty-eight billion VND).

The determination and adjustment of the registered capital level shall be carried out in accordance with the provisions of law.

7. Exercise rights and obligations of the owner:

The Prime Minister and Ministries, pursuant to the authorization of the Government, shall exercise the rights and obligations of the State owner towards Northern Food Corporation.

8. Members of the Board of Members of Northern Food Corporation shall be appointed in accordance with Article 21 of the Government Decree No. 25/2010/NĐ-CP dated March 19, 2010 on converting state-owned enterprises into state-owned joint stock companies with one member and organizing management of such companies. The Chairman and members of the Board of Directors of Northern Food Corporation shall serve as the Chairman and members of the Board of Members of Northern Food Corporation until the Prime Minister appoints new Chairman and members of the Board of Members of Northern Food Corporation.

9. After being converted into a state-owned joint stock company with one member, Northern Food Corporation shall inherit all legal rights, obligations, and interests of Northern Food Corporation before the conversion and handle existing and arising issues.

Article 2. Implementation

1. The Ministry of Agriculture and Rural Development shall be responsible for:

a. Direct, inspect, urge, and monitor the implementation of this Decision; promptly compile and report to the Prime Minister for resolution of any difficulties arising during the implementation process beyond their authority.

b. Appoint the Inspector of Northern Food Corporation pursuant to the Prime Minister's authorization in Circular No. 1065/TTg-ĐMDN dated June 23, 2010 of the Prime Minister on implementing Decree No. 25/2010/NĐ-CP.

c. Review the business sectors of Northern Food Corporation to focus on main business sectors, and submit to the Prime Minister for approval in the charter of organization and operation of Northern Food Corporation.

2. The Ministry of Finance shall be responsible for:

a. Chair and coordinate with the Ministry of Agriculture and Rural Development and the Northern Food Corporation in adjusting the registered capital in accordance with current regulations.

b. Approve for the Board of Members of the Northern Food Corporation to approve the Financial Management Regulation of the Northern Food Corporation.

3. The Board of Members of the Northern Food Corporation:

a. Submit to the Prime Minister for approval of the organizational and operational charter of the Northern Food Corporation;

c. Approve the Financial Management Regulation of the Northern Food Corporation.

c. Implement the adjustment of the registered capital of the Northern Food Corporation in accordance with current regulations.

d. Register the enterprise and re-register ownership rights for the Northern Food Corporation in accordance with the provisions;

đ. Implement the use of land that the Northern Food Corporation is currently managing and using in accordance with current regulations.

e. Submit to the Prime Minister for approval to appoint the General Director of the Northern Food Corporation.

4. The General Director of the Northern Food Corporation, prior to the conversion, is responsible for managing the operations of the Northern Food Corporation until the Board of Members of the Northern Food Corporation appoints a new General Director.

Article 3. This Decision takes effect from the date of issuance.

The Ministers of the Ministries of Agriculture and Rural Development, Finance, Labor - Invalids and Social Affairs, Planning and Investment, Home Affairs, Heads of relevant agencies, the Steering Committee for Enterprise Reform and Development, and the Board of Directors and the Board of Members of the Northern Food Corporation are responsible for implementing this Decision.