What are regulations on name and head office of State Capital Investment Corporation (SCIC) of Vietnam?

What are regulations on name and head office of State Capital Investment Corporation (SCIC) of Vietnam?

Pursuant to Article 2 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating name and head office of State Capital Investment Corporation (SCIC) of Vietnam as follows:

1. Company’s name:

a) Vietnamese name: Tổng công ty Đầu tư và Kinh doanh vốn nhà nước;

b) English name: State Capital Investment Corporation;

c) Abbreviated name: SCIC.

2. Business type: Single-member limited liability company.

3. Head office:

a) SCIC has its head office located in Hanoi and its domestic and overseas branches, companies, representative offices and independent or dependent accounting entities;

b) Head office address: 23rd floor, Charmvit building, 117 Tran Duy Hung street, Cau Giay district, Hanoi, Vietnam;

c) Website: http: //www.scic.vn;

d) Telephone: 84-4-38240703; Fax 84-4-62780136.

4. Logo:

SCIC’s logo is designed in brownish red, pale yellow and gray color and is registered according to the Registration Certificate No. 116473 issued by the National Office of Intellectual Property controlled by the Ministry of Science and Technology under the Decision No. 26963/QD-SHTT dated December 18, 2008.

5. The Prime Minister shall be accorded authority to make decisions on any change in SCIC’s name and head office as per law.

What are regulations on legal status and legal personality of State Capital Investment Corporation (SCIC) of Vietnam?

Pursuant to Article 3 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating legal status and legal personality of State Capital Investment Corporation (SCIC) of Vietnam as follows:

1. SCIC shall be organized and operated in a form of a single-member limited liability company whose charter capital is wholly held by the State under the provisions of corporate laws and clauses of this Charter.

2. SCIC shall have its own legal personality, stamp and emblem and may hold Vietnamese dong and any other foreign currency accounts opened at the State Treasury, domestic and foreign banks under the provisions of relevant laws.

3. Regulations on SCIC's stamp and use thereof:

a) SCIC shall have 01 stamp of which the form and contents are subject to the decision issued by its Board of Directors;

b) SCIC’s Board of Directors and Director General shall be vested with authority to manage and use its corporate stamp under laws currently in force.

4. SCIC may have domestic and overseas branches, companies and representative offices.

What are business purposes and scope of State Capital Investment Corporation (SCIC) of Vietnam?

Pursuant to Article 4 of the organizational and operational charter of state capital investment corporation issued together with the Decree 148/2017/NĐ-CP stipulating business purposes and scope of State Capital Investment Corporation (SCIC) of Vietnam as follows:

1. Business purposes:

a) Do business for profit, preserve and appreciate state owner’s capital invested in SCIC and SCIC’s investments in other enterprises, and fulfill other duties assigned by state owner’s representatives;

b) Innovate its management approach, improve efficiency in management of state capital invested in enterprises.

2. Scope of business;

a) Core business lines:

- Invest capital and manage invested capital within its duties assigned by the Government and the Prime Minister;

- Obtain and exercise rights to represent state owners at enterprises according to the Government’s regulations;

- Continue to carry out corporate restructuring, equitization and sell shares under the state ownership at enterprises that SCIC has acquired in trust for the State.

b) Other business activities pertaining to core business lines:

- Invest capital and perform capital trades in business sectors, industries or projects achieving economic efficiency in accordance with laws;

- Provide advisory services in such fields as investment and finance; corporate transformation, business management, corporate merger and acquisition, and other corporate support services prescribed by law;

- Other business lines permitted by the Government and the Prime Minister.

3. Pursuant to regulations laid down in clause 2 of this Article, SCIC’s Board of Directors may decide to adopt and revise the schedule of its registered business lines aligned with Vietnam’s industrial classification codes after receipt of approval from the Ministry of Finance as a basis to apply for business registration under the provisions of laws.

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