Conducting the Equitization of a State-owned Agricultural Company Holding 100% Charter Capital

02:13, 10/07/2024

Recently, the Government of Vietnam has just signed and issued Decree 118/2014/ND-CP regulating the arrangement, innovation, development, and enhancement of the operational effectiveness of agricultural and forestry companies.

co phan hoa cong ty nong nghiep, nghi dinh 118/2014/ND-CP

Illustration (source: internet)

The conversion of a 100% State-owned agricultural company into a joint-stock company applies to agricultural companies operating in which industries? This is specifically regulated in Decree 118/2014/ND-CP as follows:

- Converting State-owned agricultural companies holding 100% charter capital into joint-stock companies, where the State holds controlling shares in agricultural companies whose main business lines include planting and processing rubber in strategic areas, remote regions, which are associated with national defense and security.- Converting State-owned agricultural companies holding 100% charter capital into joint-stock companies, where the State does not hold controlling shares or does not hold any shares in agricultural companies that do not fall under the above-described categories.

According to Decree 118, the establishment of a limited liability company with two or more members based on the arrangement and innovation of State-owned agricultural companies holding 100% charter capital is aimed at linking the development of raw material areas and local people with the development of processing industries and markets; in line with local socio-economic development strategies, planning, and plans, and ensuring the rights of workers.

See more regulations related to Decree 118/2014/ND-CP which took effect from February 1, 2015.

Thu Ba

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