Decision No. 28/2004/QD-TTg dated March 04, 2004 of the Prime Minister on reorganizing the production of, and applying a number of measures to remove difficulties for, sugar plants and companies
THE PRIME MINISTER OF GOVERNMENT
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
Hanoi, March 4, 2004
ON REORGANIZING THE PRODUCTION OF, AND APPLYING A NUMBER OF MEASURES TO REMOVE DIFFICULTIES FOR, SUGAR PLANTS AND COMPANIES
THE PRIME MINISTER
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the Resolution of the 3rd plenum of the IXth Party Central Committee on continued reorganization, renovation, development and raising of the business efficiency of State enterprises and the Resolution of the 5th plenum of the IXth Party Central Committee on agricultural and rural industrialization and modernization;
At the proposals of the Minister of Planning and Investment, the Minister of Agriculture and Rural Development, the Minister of Finance, the Vietnam State Bank Governor and the general director of the Development Assistance Fund,
Article 1.- To reorganize the production of, and apply a number of measures to remove difficulties for, sugar plants and companies (hereinafter referred collectively to as plants) with a view to creating conditions for the sugar industry to continue its development and to achieve the target of one million tons of sugar, thus contributing to economic restructuring, job creation and the acceleration of the process of agricultural and rural industrialization and modernization.
Article 2.- On the basis of their current technological conditions, raw material-supplying capability and financial situation, the sugar plants are classified into 3 following groups:
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Group 1: Plants which operate efficiently and need to be continually maintained in status quo and to enjoy support policies for better development;
Group 2: Plants which must be reorganized, equitized (where the State needs not to hold equities) or experimentally sold, business contracted or leased;
Group 3: Plants which must be relocated and stop their production.
The list of specific groups of plants is mentioned in the Appendix to this Decision.
Article 3.- Applying measures to remove difficulties for plants after their classification
1. For Group 1-plants:
a/ Forgiving debt amounts payable into the State budget but not yet paid regarding added value tax arising in 2001 thru 2003 on sugar products and products using byproducts, discarded materials recovered from sugar production. The forgiven debt amounts shall not exceed the plants' arising loss amounts accumulated up to December 31, 2003.
b/ For plants being joint-stock companies which borrow credit capital for investment in the construction of plants or plants being State enterprises which borrow capital of domestic credit institutions to contribute legal capital to sugar- manufacturing or - processing joint ventures, apart from the remission of the above-mentioned budget remittance amounts, they shall be entitled to the current interest rates of the State's development investment credits as from January 1, 2004 for domestic loans (the Development Assistance Fund, commercial banks) at different interest rates in each period with balance by December 31, 2003.
The State budget shall offset the difference between the commercial interest rates and the interest rates already adjusted for the lending credit institutions under each guidance of the Finance Ministry.
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