Laws of Vietnam

THE GOVERNMENT

DECREES:

Article 1.- To amend and supplement a number of articles of the Government’s Decree No. 103/1999/ND-CP of September 10, 1999 on assigning, selling, business contracting or leasing State enterprises as follows:

1. Clause 1 of Article 2 is amended as follows:

"1. This Decree prescribes the assignment, sale, business contracting or lease of an entire enterprise, applicable to independent State enterprises and independent-accounting member enterprises of corporations, where the State capital recorded in their respective accounting books in under VN dong 5 billion and the State needs not to hold shares or which can not be equitized."

2. To add Clause 19 to Article 3 as follows:

"19. Enterprises where the State needs not to hold shares or which can not be equitized mean one of the following types of enterprises:

a/ Enterprises classified under the structuring general plan, approved by the Prime Minister, as enterprises where the State shall not hold any percentage of capital and where no equitization measures can be applied.

b/ Enterprises to be equitized under the general structuring plan already approved by the Prime Minister, which, after having applied all possible measures prescribed by law, can still not be equitized."

3. Article 58 is amended as follows:

"Article 58.- Competence to approve plans for assignment, sale, business contracting or lease of enterprises

Basing themselves on the proposals of the Boards for Enterprise Renewal and Development, the ministers, the presidents of the provincial People’s Committees and the managing boards of Corporations 91 shall decide the norms and conditions for enterprise business contracting, the leasing prices and the selling prices, and approve the plans for the assignment, sale, business contracting or lease of enterprises which possess on their accounting books the State capital of less than VN dong 5 billion."

4. The phrase: "The Central Committee for Enterprise Management Renewal" in Decree No. 103/1999/ND-CP is amended into the phrase: "The Steering Committee for Enterprise Renewal and Development"; and the phrase: "The Boards for Enterprise Management Renewal under the ministries, provinces, centrally-run cities and Corporations 91" is amended into the phrase: "Boards for Enterprise Renewal and Development."

Article 2.- This Decree takes effect 15 days after its signing. The Minister of Planning and Investment shall assume the prime responsibility and coordinate with the concerned agencies in guiding the implementation of this Decree.

Article 3.- The ministers, the heads of the ministerial-level agencies, the heads of the agencies attached to the Government, the presidents of the People’s Committees of the provinces and centrally-run cities and the managing boards of Corporations 91 shall have to implement this Decree, and once every 3 months, report thereon to the Prime Minister and propose petitions in order to well implement this Decree.

On behalf of the Government
Prime Minister
PHAN VAN KHAI