Obligations of the Vietnam Railway Corporation in Business

To be specific, according to the provisions of Article 16 of the Charter on the organization and operation of the Vietnam Railways Corporation, in business, the Vietnam Railways Corporation has the following obligations:

First, to engage in the registered industries and trades, ensuring the quality of products and services provided by the Vietnam Railways Corporation in accordance with the registered standards.

Second, to innovate and modernize technology and management methods to enhance efficiency and competitiveness.

Third, to ensure the rights and interests of employees and their rights to participate in the management of the Vietnam Railways Corporation in accordance with the law.

Fourth, to implement accounting, auditing, and financial reporting policies, and submit statistics reports as required by law and by the owner.

Fifth, to comply with the State's regulations on defense, security, culture, order, social safety, and environmental resource protection.

Sixth, to be accountable to the owner for the use of investment capital to establish or invest in other enterprises.

Seventh, to be supervised by the Ministry of Transport in implementing regulations on salary scales, salary rates, and wage payment policies for employees, the Chairman, members of the Members' Council, the General Director, Deputy General Directors, Chief Accountant, and other management officials.

Eighth, to be subject to supervision and inspection by the owner and comply with inspection decisions by financial agencies and competent state agencies as prescribed by law.

Ninth, to implement risk management and insurance for the assets, liabilities, and personnel of the Vietnam Railways Corporation in production and business according to the law.

Tenth, the Members' Council and the General Director of the Vietnam Railways Corporation must execute investment projects, purchase and sell assets, and the Corporation's loan and lending contracts in accordance with the approved policies and legal regulations.

Eleventh, to fulfill other business obligations as prescribed by law.

For more related content, see Decree 11/2018/ND-CP effective January 16, 2018.

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