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THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
177/1999/QD-TTg
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Hanoi, August 30, 1999
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DECISION
ON ORGANIZATION AND OPERATION OF FUNDS FOR
SUPPORT OF STATE ENTERPRISE RESTRUCTURE AND EQUITIZATION
THE PRIME MINISTER
Pursuant to the Law on Organization of the
Government of September 30, 1992;
Pursuant to the Government’s Decree No. 44/1998/ND-CP of
June 29, 1998 on the transformation of State enterprises into joint-stock
companies;
With a view to actively and steadily accelerating the restructure and
equitization of State enterprises;
At the proposal of the Minister of Finance,
DECIDES:
Article
1.- To set up funds for support of the restructure and equitization
of State enterprises run by the central government, localities or State
corporations established by the Prime Minister�s decisions
(Corporation 91), with a view to applying the entitlement regime for laborers
and providing financial support for State enterprises in the process of their
re-arrangement and equitization (hereafter referred to as enterprise
restructure funds for short).
Article 2.- The enterprise restructure funds shall be used
for:
1. Expenditures on the training and re-training
so as to give jobs to redundant laborers in the process of ownership change and
restructure of State enterprises.
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3. Support for laborers in the equitized State
enterprises where the State-owned capital is not enough to cover the
preferential shares to be sold to laborers in such enterprises.
4. Addition of capital to the State enterprises
which need to be prioritized for consolidation, and investment in the equitized
State enterprises according to the plans already ratified by the competent
agencies.
Article 3.- Sources of capital for the creation of the
funds:
In principle, the funds shall be created with
capital sources arising in the process of restructuring, equitizing, selling,
business contracting and leasing (hereafter referred to as ownership conversion
for short) State enterprises, including: revenues from the locally-run State
enterprises, which shall be remitted to the enterprise arrangement funds in the
localities; revenues from State enterprises of Corporations 91, which shall be
remitted to the enterprise restructure funds in Corporations 91; revenues from
State enterprises of the ministries and branches as well as central budget
money allocated according to the annual plans, which shall be remitted to the
centrally-run enterprise arrangement funds; and the local budget allocations,
which shall be remitted to the locally-run enterprise restructure funds.
Concrete capital sources:
1. The proceeds from the sale of State capital
at enterprises subject to the ownership change.
2. The share dividends and revenues from the
State’s capital contributions at the joint-stock
companies and limited liability companies.
3. The proceeds from the sale of the redundant
assets, assets in stock and liquidated assets, and money gained from the
recovered bad debts which had already been excluded from the value of
enterprises in the ownership conversion process.
4. The money gained from the liquidation of the
State properties upon the dissolution of State enterprises.
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6. The State budget allocations made according
to the annual plans (if any).
Article 4.- The enterprise restructure funds shall be set up
at the following levels:
1. The central enterprise restructure fund shall
be concentrated in one account to be managed by the Minister of Finance. The
branch-managing ministry shall, together with the Finance Ministry, ratify the
annual plan on the use of the fund. Enterprises entitled to expenditures from
the fund shall make the expenditures therefrom and the final settlement of
accounts thereof with the Finance Ministry.
2. The enterprise restructure fund in a province
or centrally-run city (hereafter referred to as the local enterprise
restructure fund for short) shall be concentrated in one account of the
provincial/municipal Finance - Pricing Department, and managed by the president
of the People’s Committee of the concerned
province or centrally-run city (hereafter referred to as the provincial People’s
Committee for short). The director of the Finance- Pricing Department shall
assist the provincial People’s Committee in managing the
fund.
3. The enterprise restructure fund at a
corporation 91 shall be concentrated in the Corporation’s separate
account to be managed by the Managing Board, which shall also ratify the
fund-using plan. The general director shall organize the use of the fund and
make the final settlement of accounts thereof the fund with the Finance
Ministry.
4. For independent cost-accounting enterprises
attached to ministries or provincial People’s
Committees, the State enterprise directors or Managing Boards (for enterprises
with Managing Boards) shall be entitled to use the proceeds from the sale of
shares to offset the expenditures stipulated in Clauses 1 and 2, Article 2 of
this Decision. The remainder shall be remitted to the central enterprise
restructure fund (for enterprises under the ministries and centrally-run
branches) or the local enterprise restructure fund (for enterprises under the
provincial People’s Committees). Where an
enterprise needs to be consolidated and develop, the fund-managing agency shall
give priority to the re-allocation of the fund to such enterprise according to
the ratified plan.
Article 5.- Management of the funds:
1. The enterprise restructure funds shall be
used in strict compliance with the stipulations in Article 2 of this Decision.
2. All the funds’ revenues
and expenditures must be separately accounted and evidenced by valid vouchers
and invoices.
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4. The Minister of Finance shall have to
regulate the funds in the whole country to serve the enterprise restructure and
equitization; sum up and make the final settlement of accounts of revenues and
expenditures of the enterprise restructure funds throughout the country.
Article 6.- Responsibilities of the ministries, provincial
People’s Committees and Managing Boards of Corporations
91:
1. To coordinate with the agencies managing the
central enterprise restructure funds in inspecting and urging State enterprises
of the ministries, localities and corporations 91 to manage and fully remit to
the funds the remaining sums of money gained from their ownership change, after
paying the expenditures mentioned in Clauses 1 and 2, Article 2 of this
Decision.
2. To decide the regime of entitlements for
laborers in the State enterprises managed by the ministries, localities and
Corporations 91 upon the change of ownership.
3. To inspect and decide expenditures on
financial support as mentioned in Article 2 of this Decision. For the
branch-managing ministries, they must notify such decisions to the Ministry of
Finance for allocation.
4. To inspect the ownership conversion
expenditures and the use of the enterprise arrangement funds at enterprises
managed by the ministries, localities and Corporations 91, ensuring that the
funds are used for the right purposes, according to the prescribed regime and
in an efficient manner for the performance of the tasks mentioned in Article 2
of this Decision.
Article 7.- Responsibilities of the Finance Ministry:
1. To issue, after getting approval from the
Prime Minister, the regulation on the management, collection, remittance and
use of capital sources of the enterprise restructure funds.
2. To ensure that the funds’
allocations be used for the right purposes and efficiently in the change of
ownership of enterprises.
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4. To regulate capital sources of the local
enterprise restructure funds and the enterprise restructure funds in
corporations 91 when deeming it necessary.
5. To take the State management responsibility
for operations of the enterprise restructure funds throughout the country.
Article 8.- The Ministry of Labor, War Invalids and Social
Affairs shall have to coordinate with the Finance Ministry in guiding the use
of the said funds in the training and re-training of laborers so as to create
new jobs and provide allowances for those laborers who voluntarily terminate
the labor contracts or who lose their jobs upon the change of ownership of the
State enterprises.
Article 9.- This Decision takes effect 15 days after its
signing.
Article 10.- The ministers, the heads of the
ministerial-level agencies, the heads of the agencies attached to the
Government, the presidents of the People’s
Committees of the provinces and centrally-run cities and the managing boards of
corporations 91 shall have to implement this Decision.
FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung