Investment Restrictions of Vietnam Electricity Group

According to the Charter issued with Decree 26, specific regulations regarding the investment restrictions of the Vietnam Electricity Group are as follows:

- Subsidiaries within the Vietnam Electricity Group are not allowed to invest in, contribute capital to, or purchase shares of the parent company. Subsidiaries of the same parent company are not allowed to jointly contribute capital or purchase shares to hold cross-ownership according to the law.- EVN's subsidiaries and subsidiaries with the same parent company that holds at least 65% of EVN's capital are not allowed to jointly invest in establishing a business where the total shares or contributed capital owned by these companies are equal to or greater than 51% of the charter capital or total common shares of the related company.- EVN's outward capital investment must comply with the regulations on state capital investment in businesses and financial management over enterprises where the State holds 100% of the charter capital.- EVN and its member enterprises shall register and are only allowed to invest in the principal business lines and related business activities; under the supervision of the owner regarding investment, investment ratio, and investment efficiency in the principal business lines and related business activities. EVN and its member enterprises within the Vietnam Electricity Group are not allowed to engage in unrelated business activities.- The Board of Members of EVN shall approve or assign the Representative at EVN's subsidiaries to exercise the rights of shareholders, and controlling members to vote to approve decisions on the principal business lines; decide on adjustments or changes to the principal business lines; supervise business activities related to the principal business lines.

See detailed Charter at Decree 26/2018/ND-CP which took effect from February 28, 2018.

-Thao Uyen-

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE