THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.16/2006/QD-TTg
Hanoi, January 19, 2006
  
DECISION
APPROVING THE SCHEME ON FORMING SAI GON INDUSTRY CORPORATION OPERATING AFTER THE PARENT - SUBSIDIARY COMPANY MODEL
THE PRIME MINISTER
 
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Law on Enterprises No. 13/1999/QH10 dated June 12, 1999;
Pursuant to Law on State Enterprises No. 14/2003/QH11 dated November 26, 2003;
Pursuant to Decree No. 153/2004/ND-CP dated August 9, 2004 of the Government on the organization and management of the State corporations and the transformation of the State corporations and independent State companies into ones operating after the parent - subsidiary company model;

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At the proposal of the President of the Peoples Committee of Ho Chi Minh city,
 
DECIDES:
Article1.
To approve the Scheme on forming Sai Gon Industry Corporation operating after the parent - subsidiary company model:
1. Sai Gon Industry Corporation shall do business in multiple branches, namely manufacturing and trading in tobacco; investment in development of the mechanical engineering, electromechanical and electronic industries in their subsidiary companies and associated companies acting as a core in the implementation of planning for the development of the industrial sector in Ho Chi Minh city.
2. The parent company - Sai Gon Industry Corporation shall be a State-owned company, formed on the basis of re-organizing Ben Thanh Tobacco Company under the Industrial Department of Ho Chi Minh city.
3. Subsidiary companies shall be joint stock companies where the parent company contributes dominant capital, including:
- Thong Nhat Rubber Company,
- Sai Gon Plastic Joint Stock Company,
- Huu Nghi Trading and Industrial Joint Stock Company,
- The Electronics Joint Stock Company - TIE,
- The Electromechanics Company LIDICO,
- Sai Gon Electronics Company - SAGEL
- Sai Gon Informatics and Electronics Company.
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