Laws of Vietnam

Corporations which continue to be State corporations: 1 Corporation 91 under the construction branch (Vietnam Cement Corporation) and 14 Corporations 90 under the Ministry.

Enterprises where the State continues to hold 100% of their charter capital: 13 independent enterprises under the Ministry and 70 independent-accounting member enterprises under State corporations.

Enterprises to be equitized with the State holding dominant shares: 1 independent State enterprise under the Ministry and 112 independent-accounting member enterprises under State corporations.

To be merged independent-accounting member enterprises under State corporations: 3 enterprises.

Roadmap for reorganization of enterprises is as follows:

In 2003: Between 40 and 45 State enterprises and sections of State enterprises shall be equitized; 2 or 3 enterprises where the State continues to hold 100% of their charter capital shall be transformed into one-member limited liability companies.

In 2004: Between 40 and 45 State enterprises and sections of State enterprises shall be equitized; 1 or 2 enterprises where the State continues to hold 100% of their charter capital shall be transformed into one-member limited liability companies; a number of qualified State corporations shall be experimentally transformed into those operating after the parent company-subsidiary company model.

In 2005: Between 35 and 40 State enterprises and sections of State enterprises shall be equitized; 1 or 2 enterprises where the State continues to hold 100% of their charter capital shall be transformed into one-member limited liability companies; a number of qualified State corporations shall be experimentally transformed into those operating after the parent company-subsidiary company model.- (Summary)