Laws of Vietnam

DECIDES:

Article 1.- To establish the Vietnam Maritime Corporation on the basis of the re-arrangement of the units: sea transport, loading and unloading, sea ship repair, maritime services under the management of the Vietnam Maritime Department and the Ministry of Transport and Communications.

The Vietnam Maritime Corporation (hereunder referred to as the Corporation) is a State-owned business. has the legal person status, has civil rights and obligations as prescribed by law, takes responsibility for all business activities conducted within the amount of capital managed by the Corporation; has its seal, assets, and centralized funds, is allowed to open its accounts at domestic and foreign banks in compliance with State regulations, is organized and operates in accordance with the Statute of the Corporation.

The international transaction name of the Vietnam Maritime Corporation is VIETNAM NATIONAL SHIPPING LINES, or VINALINES in abbreviation.

The main Office of the Corporation is located in Hanoi City.

Article 2.- The Corporation has the following main tasks:

1. To carry out businesses in sea transport, port exploitation, sea ship repair, maritime brokerage and service supply and other business branches and occupations related to maritime activities in accordance with the State overall planning and plans for development of the maritime service, import and export of maritime specialized means, materials, equipment, supply of maritime labor for domestic and foreign maritime business organizations, and to enter into joint venture and cooperation with domestic and foreign economic organizations engaged in maritime activities, in accordance with State laws and policies.

2. To receive and efficiently use, preserve and develop the State-allocated capital, including part of the capital invested in other businesses; receive and efficiently use natural resources, land, and other resources allocated by the State to carry out its assigned business and other tasks.

3. To organize and manage activities in research and application of scientific and technological advances, in training and fostering of cadres and workers in the Corporation.

Article 3.-

1. The organizational structure of the Corporation consists of :

- The Managing Board, the Supervisory Commission;

- The General Director and the assisting apparatus;

- The member units of the Corporation.

2. The organization and operation of the Corporation is defined in the Corporation Statute promulgated by the Government.

Article 4.- The Minister of Transport and Communications, after consultation with the Minister-Chairman of the Government Commission on Organization and Personnel, shall submit to the Prime Minister for decision the appointment of the President of the Managing Board, the General Director of the Corporation and other members of the Managing Board of the Corporation.

The Minister of Transport and Communications shall decide the appointment of the Deputy General Directors and the Chief Accountant of the Corporation proposed by the Managing Board at the suggestion of the General Director of the Corporation.

1. The Minister of Transport and Communications is responsible for elaborating a plan for the re-arrangement of the maritime business units as stipulated in Article 1 in order to draw up a list of the member units of the Corporation and submit it to the Prime Minister for decision.

2. The Managing Board is responsible for drafting the Statute of organization and operation of the Corporation, and submitting it to the Government for promulgation.

3. The Minister of Finance shall preside over and cooperate with the Minister of Transport and Communications in allocating capital to the Corporation

Article 6.- This Decision takes effect from the date of its promulgation.

The Minister of Transport and Communications, the Minister of Finance, the Minister-Chairman of the Government Commission on Organization and Personnel, the Ministers, the Heads of the ministerial-level agencies, Heads of the agencies attached to the Government, the Presidents of the People's Committees of the provinces and cities directly under the Central Government, the Director of the Vietname Maritime Department, the Managing Board and the General Director of the Vietnam Maritime Corporation shall have to implement this Decision.

The Prime Minister