Decision 1479/QD-TTg 2022 approving the plan to reorganize state enterprises in 2022-2025

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Decision No. 1479/QD-TTg dated November 29, 2022 of the Prime Minister on approving the plan to reorganize state-owned and state-invested enterprises in the period of 2022-2025
Issuing body: Prime MinisterEffective date:
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Official number:1479/QD-TTgSigner:Le Minh Khai
Type:DecisionExpiry date:Updating
Issuing date:29/11/2022Effect status:
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Fields:Enterprise

SUMMARY

Plan to reorganize state-owned and state-invested enterprises in 2022-2025

Decision No. 1479/QD-TTg on approving the plan to reorganize state-owned and state-invested enterprises in the period of 2022-2025 is issued on November 29, 2022 by the Prime Minister.

Accordingly, to approve the plan to reorganize state-owned and state-invested enterprises in the period of 2022-2025 in the following forms: Maintenance of single-member limited liability companies; equitization and reorganization (including forms of merger and dissolution); transfer of part or all of state capital (hereinafter referred to as divestment) in the period of 2022-2025. State-owned and other state-invested enterprises under the Ministry of Health, the People's Committee of Ho Chi Minh City, the People's Committee of Hai Duong province and other enterprises not mentioned in this Decision (not subject to transfer to the State Capital Investment Corporation) shall be reorganized under plans approved by the Prime Minister.

For enterprises of which the equitization or divestment plans have not yet been approved by any competent authority, the owner's institutional representative shall take the initiative in adjusting the rate of shares held by the State when re-formulating the plans in line with the plan to reorganize state-owned and other state-invested enterprises in the period of 2022-2025 promulgated together with this Decision and report such adjustments to the Ministry of Planning and Investment and the Ministry of Finance for monitoring and aggregation.

This Decision takes effect from the date of its signing.

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Effect status: Known

THE PRIME MINISTER

_______

No. 1479/QD-TTg

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

________________________

Hanoi, November 29, 2022

DECISION

On approving the plan to reorganize state-owned and state-invested enterprises in the period of 2022-2025

______

THE PRIME MINISTER

 

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Management and Use of State Capital Invested in Production and Business at Enterprises dated November 26, 2014;

Pursuant to the Government’s Decree No. 10/2019/ND-CP dated January 30, 2019, on the exercise of rights and performance of responsibilities of the state owner’s representatives;

Pursuant to the Government’s Decree No. 126/2017/ND-CP dated November 16, 2017, on transformation of state enterprises and single-member limited liability companies with 100% state enterprise-invested charter capital into joint-stock companies;

Pursuant to the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015, on investment of state capital in enterprises and management and use of capital and assets at enterprises;

Pursuant to the Government’s Decree No. 32/2018/ND-CP dated March 8, 2018, on amending and supplementing a number of articles of the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015, on state capital investment in enterprises, use and management of capital and assets in enterprises;

Pursuant to the Government’s Decree No. 140/2020/ND-CP dated November 30, 2020, on amending and supplementing a number of articles of the Decree No. 126/2017/ND-CP dated November 16, 2017 of the Government on transformation of state enterprises and single member limited liability companies with 100% state enterprise-invested charter capital into joint stock companies; the Decree No. 91/2015/ND-CP dated October 13, 2015 of the Government on investment of state capital in enterprises and management and use of capital and assets at enterprises and the Decree No. 32/2018/ND-CP dated March 08, 2018 of the Government on amending and supplementing a number of Articles of the Decree No. 91/2015/ND-CP dated October 13, 2015, on state capital investment in enterprises, use and management of capital and assets in enterprises;

Pursuant to the Prime Minister’s Decision No. 22/2021/QD-TTg dated July 02, 2021, on criteria for classification of wholly state-owned enterprises and partially state-owned enterprises subject to ownership transformation, reorganization or state capital withdrawal in the 2021-2025 period;

Pursuant to the Prime Minister’s Decision No. 360/QD-TTg dated March 17, 2022, approving the Scheme on “Restructuring state-owned enterprises, focusing on state-owned corporations and economic groups in the 2021-2025 period”,

At the proposal of the Minister of Planning and Investment;

 

DECIDES:

 

Article 1. To approve the plan to reorganize state-owned and state-invested enterprises in the period of 2022-2025 in the following forms: Maintenance of single-member limited liability companies; equitization and reorganization (including forms of merger and dissolution); transfer of part or all of state capital (hereinafter referred to as divestment) in the period of 2022-2025, including the following Appendices:

- Appendix I about the Plan to maintain single-member limited liability companies in the period of 2022-2025 (List of enterprises with 100% charter capital held by the State in the period 2022-2025).

- Appendix II about the plan for equitization, merger and dissolution in the period of 2022-2025 (List of enterprises with 100% charter capital held by the State to be equitized, merged and dissolved in the period of 2022-2025).

- Appendix III about the plan to divest and keep the state capital in the period 2022-2025 (List of state-owned and other state-invested enterprises to undergo divestment and of which state capital is kept in the period 2022-2025).

- Appendix IV about the list of state-owned and state-invested enterprises to be arranged under separate plans in the period of 2022-2025.

State-owned and other state-invested enterprises under the Ministry of Health, the People's Committee of Ho Chi Minh City, the People's Committee of Hai Duong province and other enterprises not mentioned in this Decision (not subject to transfer to the State Capital Investment Corporation) shall be reorganized under plans approved by the Prime Minister.

Article 2. Organization of implementation

1. Ministries, ministerial-level agencies, Government-attached agencies, People's Committees of provinces and centrally-run cities shall:

a) Directly approve, or submit to competent authorities for approval or obtain written approval thereof, and direct the implementation of their schemes for reorganizing state-owned enterprises in the period of 2021-2025 under Decision No. 360 /QD-TTg dated March 17, 2022 of the Prime Minister.

b) Drastically carry out the equitization and complete the announcement of enterprise value in the period of 2022-2025 for enterprises listed in Section 1, Appendix II issued together with this Decision; organize the divestment according to the roadmap and ensure that the State holds the rate of capital in the enterprises according to the framework prescribed in Decision No. 22/2021/QD-TTg dated July 2, 2021 of the Prime Minister, thus aiming to achieve the rate as proposed for enterprises mentioned in Section 1, Appendix III issued together with this Decision by 2025. Take full accountability to the Government, the Prime Minister, inspection and examination agencies for the implementation and results thereof.

c) Formulate and submit to the Prime Minister for consideration and approval the arrangement policy for each enterprise specified in Appendix IV issued with this Decision in the first quarter of 2023.

d) Consult representatives of state capital portions in enterprises to vote on the arrangement of the enterprises mentioned in Section 2, Appendix III to this Decision and the joint stock companies subject to dissolution under the applicable law provisions.

dd) Depending on the market situation and reality at the enterprises, actively accelerate the equitization and divestment earlier than the approved schedule, ensuring efficiency, publicity, transparency and compliance with the law provisions.

e) Promptly report to the Prime Minister for consideration and decision in special documents the cases that cannot be implemented under this Decision due to unfavorable market conditions or objective problems or difficulties.

For the cases where the rate according to the framework cannot be ensured or/and the cases which cannot be done in the period of 2022-2023 due to subjective reasons, the responsibilities of the related teams and persons (if any) shall be identified and reported to competent authorities to take appropriate actions in accordance with the law provisions as well as to the Steering Committee for Enterprise Renewal and Development, the Ministry of Planning and Investment, and the Ministry of Finance for monitoring and aggregation; at the same time, the rates as specified in this Decision shall continue to be ensured in the period 2024-2025.

g) Actively review and transfer the rights to represent the owner of state capital in the enterprises to the State Capital Investment Corporation or report to the Prime Minister for consideration and decision on the cases of transfer to the State Capital Investment Corporation under the applicable law provisions.

h) Before January 15 every year, send a report on the reorganization of the enterprises specified in this Decision to the Steering Committee for Enterprise Renewal and Development, the Ministry of Planning and Investment, and the Ministry of Finance for monitoring and aggregation.

2. The Ministry of Planning and Investment shall assume the prime responsibility for, and coordinate with the Steering Committee for Enterprise Renewal and Development, the Ministry of Finance and relevant agencies in, monitoring, accelerating, supervising and concluding the implementation of this Decision.

Article 3. Transitional provisions and responsibilities for implementation

1. As for state-owned and other state-invested enterprises that are equitized or divested before the effective date of this Decision:

a) As for enterprises of which the equitization or divestment plans have not yet been approved by any competent authority, the owner's institutional representative shall take the initiative in adjusting the rate of shares held by the State when re-formulating the plans in line with the plan to reorganize state-owned and other state-invested enterprises in the period of 2022-2025 promulgated together with this Decision and report such adjustments to the Ministry of Planning and Investment and the Ministry of Finance for monitoring and aggregation.

b) As for enterprises of which the equitization or divestment plans have been approved by competent authorities, the approved plans shall continue to be implemented while other plans shall be formulated to divest at the specified rate under the plan to reorganize state-owned and other state-invested enterprises in the period of 2022-2025 promulgated together with this Decision.

2. This Decision takes effect from the date of its signing for promulgation. Pursuant to Clause 1, Article 8 of Decision No. 22/2021/QD-TTg dated July 02, 2021 of the Prime Minister, Decision No. 26/2019/QD-TTg dated August 15, 2019 of the Prime Minister on approving the list of enterprises to be equitized until the end of 2020 and Decision No. 908/QD-TTg dated June 29, 2020 of the Prime Minister on approving the list of state-invested enterprises to be divested until the end of 2020 cease to be effective.

Subsidiaries being single-member limited liability companies with 100% of charter capital invested by state-owned enterprises re-arranged under Decision No. 26/2019/QD-TTg shall continue to be implemented until the Scheme on restructuring single-member limited liability companies with 100% of charter capital held by the State is approved by any competent authority.

3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of People's Committees of provinces and centrally-run cities, and state-owned enterprises, representatives of the State’s contributed capital shall be responsible for implementing this Decision.

 

 

FOR THE PRIME MINISTER

DEPUTY PRIME MINISTER

 

 

Le Minh Khai

 

* All Appendices are not translated herein.

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