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

DECISION

Approving the Plans on reorganization of state enterprises and enterprises with state capital in the 2022-2025 period^[1]

THE PRIME MINISTER

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

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

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

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

Pursuant to the Government’s Decree No. 91/2015/ND-CP of 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 of March 8, 2018, amending and supplementing a number of articles of the Government’s Decree No. 91/2015/ND-CP of 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. 140/2020/ND-CP of November 30, 2020, amending and supplementing a number of articles of the Government’s Decree No. 126/2017/ND-CP of November 16, 2017, on transformation of state enterprises and single-member limited liability companies in which state enterprises invest 100% of charter capital into joint-stock companies; the Government’s Decree No. 91/2015/ND-CP of October 13, 2015, on investment of state capital in enterprises and management and use of capital and assets at enterprises, and the Government’s Decree No. 32/2018/ND-CP of March 8, 2018, amending and supplementing a number of articles of the Government’s Decree No. 91/2015/ND-CP of October 13, 2015, on investment of state capital in enterprises and management and use of capital and assets at enterprises;

Pursuant to the Prime Minister’s Decision No. 22/2021/QD-TTg of July 2, 2021, on criteria for classification of state enterprises and enterprises with state capital subject to ownership transformation, reorganization or divestment in the 2021-2025 period;

Pursuant to the Prime Minister’s Decision No. 360/QD-TTg of March 17, 2022, approving the Scheme for restructuring of state enterprises, focusing on state economic groups and corporations in the 2021-2025 period;

At the proposal of the Minister of Planning and Investment,

DECIDES:

Article 1. To approve the Plans on reorganization of state enterprises and enterprises with state capital in the 2022-2025 period in the following forms: maintenance of single-member limited liability companies; equitization or reorganization (including merger and dissolution) of enterprises; and transfer of part or the whole of state capital amounts (below referred to as divestment) in the 2022-2025 period, which are provided in the following appendices:

- Appendix I: Plan on maintenance of single-member limited liability companies in the 2022-2025 period (List of enterprises in which the State holds 100% of charter capital in the 2022-2025 period).

- Appendix II: Plan on equitization, merger or dissolution of enterprises in the 2022-2025 period (List of enterprises in which the State holds 100% of charter capital and which are subject to equitization, merger or dissolution in the 2022-2025 period).

- Appendix III: Plan on divestment and maintenance of state capital amounts in enterprises in the 2022-2025 period (List of state enterprises and enterprises with state capital subject to divestment and maintenance of state capital amounts in the 2022-2025 period).

- Appendix IV: List of state enterprises and enterprises with state capital subject to reorganization under separate plans in the 2022-2025 period.

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

Article 2. Organization of implementation

1. Ministries, ministerial-level agencies, government-attached agencies and provincial-level People’s Committees shall:

a/ Approve, or submit to competent authorities for approval or for issuance of approval documents, and direct the implementation of, the Scheme for restructuring of state enterprises in the 2021-2025 period under the Prime Minister’s Decision No. 360/QD-TTg of March 17, 2022.

b/ Drastically carry out the equitization of enterprises and complete the announcement of enterprise value in the 2022-2025 period, for the enterprises listed in Section 1, Appendix II to this Decision; carry out the divestment according to the set roadmap, ensuring that the State’s holding rates in enterprises are within the limits specified in the Prime Minister’s Decision No. 22/2021/QD-TTg of July 2, 2021, striving to achieve the proposed rates by 2025, for the enterprises listed in Section 1, Appendix III to this Decision; and take full responsibility to the Government, Prime Minister, and inspection and examination agencies for the organization and results of implementation thereof.

c/ Formulate and submit in the first quarter of 2023 to the Prime Minister for consideration and approval the policy on reorganization for each enterprise listed in Appendix IV to this Decision.

d/ Give opinions as a basis for representatives of state capital amounts in enterprises to vote on the reorganization, for the enterprises listed in Section 2, Appendix III to this Decision and joint-stock companies subject to dissolution under current regulations.

dd/ Depending on the market situation and reality at enterprises, proactively carry out the equitization and divestment earlier than the approved schedule, ensuring efficiency, publicity, transparency and lawfulness.

e/ Promptly report cases in which it is impossible to apply this Decision due to unfavorable market conditions or objective difficulties to the Prime Minister for consideration and decision under particular documents.

For cases in which the State’s holding rates in enterprises are not within the law-specified limits or/and impossible to be ensured in the 2022-2023 period due to subjective reasons, it is required to clearly identify the responsibilities of related collectives and individuals (if any) and report the cases to competent authorities for handling in accordance with law and to the Steering Committee for Enterprise Renewal and Development, Ministry of Planning and Investment and Ministry of Finance for monitoring and summarization; at the same time, proceed with implementing current regulations to ensure the holding rates specified in this Decision in the 2024-2025 period.

g/ Actively carry out a review and transfer the right to represent the owner of state capital in enterprises to the State Capital Investment Corporation or report to the Prime Minister for consideration and decision the cases of transfer to the State Capital Investment Corporation under current regulations.

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

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

Article 3. Transitional provisions and implementation responsibility

1. For state enterprises and enterprises with state capital subject to equitization or divestment before the effective date of this Decision:

a/ For enterprises whose plans on equitization or divestment have not yet been approved by competent authorities, the owner-representing agencies shall proactively adjust the State’s holding rates upon formulation of such plans in accordance with the Plans on reorganization of state enterprises and  enterprises with state capital in the 2022-2025 period promulgated together with this Decision, and report such to the Ministry of Planning and Investment and Ministry of Finance for monitoring and summarization.

b/ For enterprises whose plans on equitization or divestment have been approved by competent authorities, they shall implement such plans and continue to formulate plans for divestment to ensure the rates specified in the Plans on reorganization of state enterprises and enterprises with state capital in the 2022-2025 period promulgated together with this Decision.

2. This Decision takes effect on the date of its signing. Pursuant to Clause 1, Article 8 of the Prime Minister’s Decision No. 22/2021/QD-TTg of July 2, 2021, the Prime Minister’s Decision No. 26/2019/QD-TTg of August 15, 2019, approving the List of enterprises subject to equitization through 2020 (below referred to as Decision No. 26/2019/QD-TTg), and the Prime Minister’s Decision No. 908/QD-TTg of June 29, 2020, approving the List of enterprises with state capital subject to divestment through 2020, cease to be effective.

Subsidiaries being single-member limited liability companies in which state enterprises hold 100% of charter capital and which are subject to reorganization under Decision No. 26/2019/QD-TTg may continue to operate until a competent authority approves the Scheme for restructuring of single-member limited liability companies in which the State holds 100% of charter capital.

3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and state enterprises, and persons representing state capital amounts in enterprises shall implement this Decision.-

For the Prime Minister
Deputy Prime Minister
LE MINH KHAI

* The appendices to this Decision are not translated.