Decision No. 151/2005/QD-TTg dated June 20, 2005 of the Prime Minister establising the corporation for state capital investment and trading

DECISION

ESTABLISINGTHECORPORATIONFORSTATECAPITALINVESTMENTANDTRADING

THE PRIME MINISTER

PursuanttotheDecember25,2001LawonOrganisationoftheGovernment;

PursuanttotheNovember26,2003LawonStateEnterprises;

PursuanttotheGovernmentsResolutionNo.10/2004/NQ-CPofAugust11,2004;

AttheproposaloftheMinisterofFinance,

DECIDES:

Article 1stablish the Corporation forStateCapital Investment and Trading, which shallmanage,investsandtradeinstatecapitalatenterprisesandindomainsaccordingtotheprovisions

law.

Article 2oration forState Capital Investment and Trading (hereinafter called the Corporationforshort)isaspecialeconomicorganisationoftheState,operatingundertheLawon State Enterprisesandotherrelevantlaws.

TheCorporationhasthelegalpersonstatusunderVietnameselawanditsownseal,andmayopenaccountsattheStateTreasuryanddomesticaswellasforeigncommercialbanksaccordingtothe provisionsoflaw.

The Corporation isheadquartered inHanoi city and has o number of itsmember companies, branchesandrepresentativeofficesathomeandabroad.

Article 3TheCorporationhasthefollowingmajorfunctionsandtasks:

1. To receive, andact as the representative of ownership over, the state capital invested instate-runone-memberlimitedliabilitycompanies,limitedliabilitycompanieswithoneortwomembers,andjoint-stockcompaniestransformedfromindependentstatecompaniesor newlysetupones.

2. Toinvestandtradeinstatecapitalineconomicbranchesanddomainsathomeandabroad

informsof:

a. Investmentofcapitalinsettingupenterprisesinimportantbranchesand/ordomains wheretheStateneedstoplaythe dominantrole;

b. Investment in contribution ofjoint-venture or partnership capital or contribution stockcapitalwith otherenterprises;

c. Investmentinpurchaseofpartofassetsorwholeofotherenterprises;

d. Investment in the capitalmarket or securitiesmarketthrough purchasing and/or sellingstocks,bondsandotherfinancialinstruments.

3. Tomake investment, andmanage theinvestment capital of the Corporation indomainsand/orbranchesofthenationaleconomyaccordingtotheState-assignedtasks.

4. Tomobilize domestic andforeign capital sources inorder to supplement business capitalthrough capitalborrowing,issuance of corporate bonds or project bonds, or setting up ofinvestmenttrustfundsaccordingtotheprovisionsoflawonstatecompanies.

5. To provide such financial servicesasinvestment consultancy, financial consultancy,equitization consultancy,enterprise ownership transformation consultancy; to acceptentrusted investment capital sources from domestic and foreign organisationsandindividuals

6. Toperforminternationalcooperationtasksinthedomainofcapitalinvestmentandtrading.

7. Toprovideservicesinsupportofenterprises.

8. Tocarryout otheractivitiesaccordingtotheprovisionsoflaw.

Article 4WorkingcapitaloftheCorporationcomprises:

1. Initial legalcapital:VND5,000(five thousand)billion,including:

a. Allocatedstate budget capital:VND 1,000 (one thousand) billion underthe Prime

MinistersDecisionNo.92/QD-TTgofJanuary29,2002;

b. CapitalreceivedfromcompaniesdefinedinClause1,Article3ofthisDecision,at thetimeofestablishmentoftheCorporation.

2. StatecapitaladdedtotheCorporationforinvestment,andcapitaladditionallyreceivedfromcompaniesdefinedinClause1,Article3ofthisDecision

3. Capital addedfrompost-taxprofits;mobilizedcapitalandcapitalfromotherlawfulsources.

Article 5FinanceoftheCorporation

The Corporation is anindependenteconomic cost-accounting unit, has financial autonomy and appliesacentralizedbook-keepingcost-accountingregime.Theaccounting,accountingreporting, financial reporting, statistical reporting and audit regimesshall complywith regulations.The Corporationshallhavetoperformfinancialobligationsandenjoypreferentialpoliciesaccordingto theprovisionsoflaw.

Article6Organizationalstructure,managingandadministeringapparatusesoftheCorporationare composedof:

1. TheManagingBoard,theControlBoard.

2.Thegeneraldirector,deputygeneraldirectors,thechiefaccountantandassistingfunctionaldivisions

3. Membercompanies,branchesandrepresentativeoffices

Article7Corporationshallhavetoreceive,investandtradeincapitalefficiently;preserveanddevelopstatecapital.Thespecifictasks,rightsandobligationsoftheCorporationshallcomply withtheCorporationsCharter

Article8OrganisationofImplementation

1. The Minister ofFinance shall promulgatetheFinancial Regulation applicable to the

CorporationandguideandorganisetheimplementationofthisDecision.

2. Ministers,headsofministerial-levelagencies,headsofGovernment-attachedagencies,and presidentsofprovincial/municipalPeoplesCommitteesshallhavetotransfertheownership over state capital at companies defined in Clause 1, Article 3ofthis Decision to the Corporationaccordingtoregulations.

3. TheManagingBoardandthegeneraldirectoroftheCorporationshallhavetoorganisethe operationoftheCorporationinstrictaccordancewithregulations.

Article 9ThisDecisiontakeseffect15daysafteritspublicationinCONGBAO.

Ministers,headsofministerial-levelagencies,headsofGovernment-attachedagencies,presidents

provincial/municipalPeoplesCommittees,chairmenofmanagingboards,generaldirectorsand directorsofconcernedenterprisesshallhavetoimplementthisDecision.