What are regulations on dependent accounting units and branches, and representative offices of State Capital Investment Corporation (SCIC) of Vietnam?

What are regulations on dependent accounting units and branches, and representative offices of State Capital Investment Corporation (SCIC) of Vietnam?

Pursuant to Article 43 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating dependent accounting units and branches of SCIC of Vietnam as follows:

1. Dependent accounting units and branches established by SCIC are those entities do not have their own capital and property. All of their capital and property shall be owned and centrally accounted for by SCIC; shall be organized into sites, depending on their size and managerial and operational needs of SCIC, which are formed under the decision of the Board of Directors issued after receipt of the Prime Minister’s consent to policies for such formation.

2. Each dependent accounting unit and branch shall be led by a Director and Deputy Directors, and shall be composed of operations departments. Organizational and operational regulations of SCIC’s subordinate units and branches shall be set out by SCIC's Director General under his/her authority delegated by the Board of Directors.

Pursuant to Article 44 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating representative offices of SCIC of Vietnam as follows:

SCIC’s domestic and overseas representative offices are units directly controlled by SCIC and established under the decision of the Board of Directors after receipt of the Prime Minister's approval of policies for such establishment to serve the purposes of performing several tasks, but not getting directly involved in performing business tasks.

What are forms of employee’s involvement in corporate management of SCIC of Vietnam?

Pursuant to Article 45 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating forms of employee’s involvement in corporate management of SCIC of Vietnam as follows:

Employees may engage in management of SCIC’s business in the forms and by participating in organizations as follows:

1. Employees’ meetings.

2. Dialogues at work.

3. SCIC’s trade union.

4. People’s Inspectorate.

5. Exercise of their rights to file suggestions, complaints and accusations in accordance with laws.

What are rights and policies for employees of SCIC of Vietnam?

Pursuant to Article 46 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating rights of employees of SCIC of Vietnam as follows:

Employees may get involved in discussions, submit their opinions and suggestions to competent regulatory authorities in accordance with laws on employment and other relevant laws.

Pursuant to Article 47 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating rights of staff of SCIC of Vietnam as follows:

SCIC’s staff shall have the right to engage in supervision over implementation of the resolution made by the staff's meeting; implementation of SCIC’s internal rules, regulations and Charter; implementation of the collective bargaining agreement; implementation of employment contracts; implementation of regulations and policies granted to employees; collection and use of funds to which employees make their contributions; results gained from handling employment-related complaints, accusations and disputes; annual emulation and rewarding results of employees.

Pursuant to Article 48 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating employees’ meetings of SCIC of Vietnam as follows:

On an annual basis, SCIC shall be responsible for presiding over and cooperating with the Executive Committee of Trade Union in holding an employee’s meeting to discuss solutions to fulfilling business goals that the Board of Directors has approved; assess implementation of the collective bargaining agreement, internal rules and regulations and other matters related to legal and sound rights and interests of employees.

Pursuant to Article 49 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating relationship between SCIC and its employees as follows:

1. Relationship between SCIC and its employees shall be subject to regulations laid down in laws on employment currently in force.

2. SCIC’s Director General shall submit a plan to the Board of Directors to seek its ratification of matters related to recruitment of employees, lay-off, salaries, social insurance, benefits, rewarding and disciplining of the management and staff of SCIC, as well as relationship between SCIC and employee’s trade unions.

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