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In This Updates:
Decision No. 2100/QD-TTg dated December 27, 2017 of the Prime Minister on approving the equitization of Parent Company Power Generation Joint Stock Corporation 3 (affiliated to EVN)
Equitization of Parent Company - Power Generation Joint Stock Corporation 3
NATURAL RESOURCES – ENVIRONMENT
NATURAL RESOURCES - ENVIRONMENT
Resolution No.120/NQ-CP dated November 17, 2017 of the Government on sustainable and climate-resilient development of the Mekong River delta
Sustainable and climate-resilient development of the Mekong River delta
Circular No. 41/2017/TT-BGTVT dated November 14, 2017 of the Ministry of Transport on prescribing the management of collection and disposal of ship-generated wastes in seaport waters
Ship-generated wastes must be collected within 4 hours
Circular No. 40/2017/TT-BGTVT dated November 09, 2017 of the Ministry of Transport on guiding energy labeling for passenger cars with over 7 to 9 seats
Cars with 8 to 9 seats must be stuck with energy labels
Decision No. 4495/QD-BCT dated November 30, 2017 of the Ministry of Industry and Trade on electricity prices
From December 01, the average retail electricity price is VND 1,720.65 per kWh
The equitization of Parent Company - Power Generation Joint Stock Corporation 3 (affiliated to EVN) has been approved at the Decision No. 2100/QD-TTg dated December 16, 2017.
POWER GENERATION JOINT STOCK CORPORATION 3 (Abbreviated name: EVNGENCO 3); Method of equitization: Keeping existing state capital unchanged and issuing additional stocks to increase charter capital.
The holding company - EVNGENCO 3, when determining the amount of charter capital of joint stock company in the equitization plan, is not required to adjust accounting records according to the results of valuation of enterprise and use such value to determine starting price when conducting initial offering.
The charter capital is VND 20,809 billion; proportion of charter capital; EVN holds 1,061,300,000 shares, accounting for 51% of charter capital. EVN holds 51% of charter capital of EVNGENCO 3 by the end of 2019.
From 2020, if EVN and EVNGENCO 3 (joint-stock company) restructure debts and negotiate with credit institutions successfully, EVN shall consider reducing its shareholding in EVNGENCO 3 (joint-stock company) to fewer than 50% of charter capital (below the controlling rate).
Shares to be sold to employees at discounted prices in are 3,424,000 shares accounting for 0.16% of charter capital. Shares to be sold at public auctions are 267,051,900, accounting for 12.8355% of charter capital. Shares to be sold to strategic investors are 749,124,000, accounting for 36% of charter capital. The Face value of a share is VND 10,000 and starting price of public offering: VND 24,600 per share.
Total employees at the time of announcing enterprise’s value: 2,478 and all employees shall be transferred to the joint-stock companyThis Decision takes effect on the signing date.
Ü NATURAL RESOURCES – ENVIRONMENT
At the Resolution No. 120/NQ-CP dated November 17, 2017 on sustainable and climate-resilient development of the Mekong River delta, the Government set the objectives to 2050 the ratio of eco-agriculture and hi-tech agriculture will account for over 80%, and forest coverage will reach over 9%.
In particular, to form ecological sub-regions to serve as orientations for economic, agriculture and infrastructure development; The new master plans should change the motto “living together with floods” to the motto “actively living together with flood, inundation, brackish water and salt water” on the basis of the overall master plan on water resources in river basins.
At the same time, formulate a plan on coastal protection, consolidation and upgrading of the system of sea dikes and prevention and control of coastal erosion; review the
formulation, appraisal and approval of location planning for, and strictly supervise the implementation of, investment projects on construction of coal-fired power plants in the Mekong River delta region under the national plan on electricity development for the 2011-2020 period, with orientations toward 2030. Besides, considering the establishment of the Fund on sustainable development of the Mekong River delta region, ensuring water resource security and climate change response.
Promptly reviewing data and completing the basic survey on natural resources and environment of the Mekong River delta region; develop and complete before December 2020 an interdisciplinary database on the Mekong River delta to serve sustainable and climate-resilient development and for connection with the database of the Mekong River Commission.
On November 14, 2017, the Ministry of Transport issued Circular No. 41/2017/TT-BGTVT prescribing the management of collection and disposal of ship-generated wastes in seaport water.
Accordingly, a seaport enterprise shall collect ship-generated wastes in seaport waters within 4 hours from the time the regional Maritime Administration receives a request from the person carrying out procedures for the ship. Ship-generated wastes include garbage, bilge water, oily bilge water, and other noxious liquid substances generated during the operation of ships.
Seaport enterprises that do not provide the service of collection and disposal of ship-generated wastes in seaport
waters shall sign contracts with providers of such service that satisfy the conditions on waste collection and disposal according to regulations of wastes collection and disposal. A seaport enterprise shall publicize and display the list of organizations and individuals that have signed contracts to provide the service of collection and disposal of ship-generated wastes at seaports and service prices on the website and at the head office of the seaport.
This Circular takes effect on January 1, 2018, and replaces the Circular No. 50/2012/TT-BGTVT dated December 19, 2012.
Circular No. 40/2017/TT-BGTVT guiding energy labeling for passenger cars with over 7 to 9 seats issued on November 09, 2017 by the Ministry of Transport.
According to this Circular, passenger cars with over 7 to 9 seats manufactured or assembled from knocked down, brand new or imported parts must be stuck with energy labels under regulations before being marketed.
These labels providing information related to the fuel consumed and fuel consumption rate of that car in
order to help consumers recognize and select fuel-efficient cars. Manufacturing, assembling and importing establishments may announce by themselves their fuel consumption rates and energy labeling for manufactured or assembled cars which are granted technical safety and environmental protection quality certificates.This Circular takes effect on January 01, 2018.
This is the important content prescribed at the Decision No. 4495/QD-BCT on electricity prices issued by the Ministry of Industry and Trade on November 20, 2017.
In particular, from December 01, 2107, the average retail electricity price increase from VND 1,622.01 per kWh to ,720.65 per kWh, increased by 6.08% compared previous regulations.
Within that, the retail electricity prices for domestic use is from VND1,549 – VND 2,701 per kWh. Retail electricity prices for production with voltage of 110 kV or higher in Normal hours is VND 1,434 per kWh; in Off-peak hours is
VND 884 per kWh and in Peak hours is VND 2,570 per kWh, within that the previous prices are in turn VND 1,388 per kWh; VND 869 per kWh; VND 2,459 per kWh.
The retail electricity prices for hospitals, nursery schools, kindergartens, schools VND 1,531 - VND 1,635 per kWh depending on the voltage of higher or less than 6 kV. Retail electricity prices for business for Voltage of 22 kV or higher in peak hours increase from VND 3,699 per kWh to VND 3, 923 per kWh…Above average retail electricity price is applicable from December 01, 2017.
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