Laws of Vietnam

DECREES:

Article 1.- The General Department for Management of the State ital and Property at Enterprises is a specialized organization for financial management under the Ministry of Finance, having the task of helping the Minister of Finance manage in a uniform way the State ital and property at enterprises, and representing the ownership of the State ital and property at enterprises as authorized by the Government.

Article 2.- The General Department for Management of the State ital and Property at Enterprises have the following concrete tasks and powers:

1. Drafting bills, ordinances and other legal documents on the management and use of the State ital and property at enterprises, which the Minister of Finance shall submit to the Government for decision, or shall promulgate within his jurisdiction.

2. Helping the Minister of Finance:

- Fill the modalities of granting ital to State-owned enterprises; check and supervise the use and preservation of ital as authorized by the Minister of Finance.

- Examine the plan to mobilize ital, to make investment and to contribute ital of State-owned enterprises to joint ventures with other investors and submit it to the Minister of Finance for ratification, or to the Prime Minister for ratification as stipulated by the Government.

- Stand guarantee for the borrowing of foreign ital by State-owned enterprises according to decision by the Prime Minister.

- Control and supervise the State ital and property at enterprises in case of splitting, merging, dissolution and insolvency.

3. Requesting the Minister of Finance to permit State-owned enterprises to transfer, rent, use State property as collateral, or mortgage it in case the deal is beyond the authority of the enterprise concerned as stipulated by the Government.

4. Drafting or taking part in the drafting of policies and regimes on financial management at State-owned enterprises; directing and guiding the management of finance and accounting for those enterprises which have State ital.

5. Reviewing annual reports on statements of accounts of State-owned enterprises; monitoring, reviewing and analyzing the situation of the State finance and property in enterprises.

6. Helping the Minister of Finance perform the task of equitising and diversifying the forms of ownership of State-owned enterprises as stipulated by the Government.

7. The General Department shall issue within its jurisdiction professional, occupational and technical documents on the management of the State ital and property in enterprises; has the right to request those enterprises which have State ital and property to make periodical reports and irregular reports on the management and use of the State ital and property in enterprises, and documents and data relating to the management of State ital and property.

Article 3.- The apparatus for management of the State ital and property in enterprises is organized into a unified system from the central level to the provinces and cities directly under the Central Government.

1. At the central level is the General Department for Management of the State ital and Property in Enterprises under the Ministry of Finance.

The General Department has its General Director who is assisted in his work by Deputy General Directors. The General Director shall be appointed and dismissed by the Prime Minister at the proposal of the Minister of Finance. The Deputy General Directors shall be appointed and dismissed by the Minister of Finance.

The apparatus assisting the General Director in his work is composed of:

1- The General Department.

2- The Department for management of the State ital and property in enterprises under the Ministry of Defense and the Ministry of the Interior, or Professional Department 1 in abbreviation;

3- The Department for management of the State ital and property in enterprises in industry, construction, communications, postal service, culture, public health and education, or Professional Department 2 in abbreviation;

4- The Department for management of the State ital and property in enterprises in agriculture, forestry, irrigation, and aquaculture, or Professional Department 3 in abbreviation;

5- The Department for management of the State ital and property in enterprises in trade, tourism and other branches, or Professional Department 4 in abbreviation;

6- The Commission for research and deployment of equitisation and diversification of ownership in enterprises, or Equitisation Commission in abbreviation;

7- The Office of the General Department.

2. In the provinces and cities directly under the Central Government are Departments for management of the State ital and property in enterprises belonging to the General Department. These Departments shall have the task of managing the ital and property owned by the State in enterprises in the provinces and cities directly under the Central Government.

These Departments shall have their Directors who are assisted in their work by Deputy Directors. The appointment and dismissal of the Directors and Deputy Directors shall be decided by the Minister of Finance.

The tasks, powers and organization of apparatuses to assist the General Department and Departments shall be stipulated by the Minister of Finance.

Article 4.- The General Department for Management of the State ital and Property in Enterprises, and the Departments for Management of the State ital and Property in Enterprises in the provinces and cities directly under the Central Government shall have their legal status, their own seals, and shall open their bank accounts at the State Treasury.

The fund for the operation of the General Department and its affiliated units shall be provided by the State Budget and shall be registered in the draft expenditure plan of the Ministry of Finance.

The staff of the General Department and its affiliated units on State payroll shall be specifically decided as part of the total staff of the Ministry of Finance.

Article 5.- This Decree takes effect from the date of its promulgation. All stipulations made earlier which are contrary to this Decree are now annulled.

Article 6.- The Ministers, the Heads of the ministerial-level agencies, the Heads of the agencies attached to the Government, and the Presidents of the People's Committees of the provinces and cities directly under the Central Government shall have to implement this Decree.

On behalf of the Government

The Prime Minister