THE GOVERNMENT
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
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No.: 111/2007/ND-CP
Hanoi, June 26, 2007
 
DECREE
ON ORGANIZATION AND MANAGEMENT OF STATE-OWNED CORPORATIONS AND TRANSFORMATION OF STATE-OWNED CORPORATIONS, INDEPENDENT STATE-OWNED COMPANIES, PARENT COMPANIES BEING STATE-OWNED COMPANIES UPON THE FORM OF PARENT - SUBSIDIARY COMPANIES OPERATING UNDER THE LAW ON ENTERPRISE
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the Law on State owned Enterprises dated November 26, 2003;
Pursuant to the Law on Enterprises dated November 29, 2005;
At the proposal of Minister of Planning and Investment,
DECREES:
Chapter 1:
GENERAL PROVISIONS
Article 1. Scope of governing
This Decree stipulates on:
1. Organization and management of corporations which are decided to invest in and establish by the State, the corporations which are decided to invest in and establish by the companies themselves in the period not yet transferred to operate under the Enterprise Law.
2. Conversion of the Corporations which are decided to invest in and establish by the State, of the corporations which are decided to invest in and establish by the companies themselves, the member companies accounted independent of the Corporations which are decided to invest in and establish by the State, the independent state companies into the form of parent - subsidiary companies operating under the Enterprise Law.
3. Form of parent - subsidiary company in which parent company is the one member limited liability company owned by the State.
Article 2. Subjects of application
Subjects applicable to this Decree include:
1. Corporations which are decided to invest in and establish by the State.
2. Corporations which are decided to invest in and establish by the companies themselves.
3. State-owned Company is the parent company of the corporation under the form of parent - subsidiary company and economic group.
4. The parent company is one member limited liability company owned by the State.
Article 3. State administration and management of state ownership for the state-owned corporations, the parent company owned by the State
State-owned Corporations, parent companies owned by the State in the form of parent – subsidiary companies, parent companies to be of the corporations submit to the State administration by state agencies at all levels in accordance law regulations and management of representatives of the owners upon the centralization, assignment from the Government.
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