Responsibilities of the State Owner towards EVN

The state owner of EVN shall decide on the establishment, objectives, missions, and business sectors; reorganize, convert ownership, dissolve, and request bankruptcy; contribute capital to other enterprises.

- Issue the Charter on organization and operation, Financial management regulations; amend and supplement the Charter on organization and operation, Financial management regulations of EVN.- Decide on investment of charter capital; adjust, transfer part or all of EVN's charter capital.- Decide on the organizational management structure of EVN; plan, appoint, reappoint, dismiss, resign, transfer, rotate, reward, discipline, retire the Chairman and members of the Board of Members, Controllers; approve in writing for the Board of Members of EVN to decide on planning, appointing, reappointing, dismissing, resigning, transferring, rotating, rewarding, disciplining, retiring the General Director of EVN.- Decide on the strategy, business production plan, and development investment plan of EVN.- Approve investment guidelines, purchase, sale of assets, and loan contracts.- Based on the provisions of the law on the management, use of state capital in enterprises, stipulate financial policies, profit distribution, establish and use funds; approve annual financial statements of EVN.- Stipulate recruitment policies, salary, bonus; decide on the salary level for the Chairman and members of the Board of Members, Controllers, and the General Director of EVN.- Decide on market development solutions, marketing, and technology; stipulate the mechanisms for assigning tasks and participating in the provision and assurance of public, essential products and services of the economy.- Supervise, inspect, audit the observance of the law; evaluate the implementation of assigned goals, missions, operational results, business efficiency; manage, use, maintain, and develop the capital of EVN. Evaluate the Chairman and members of the Board of Members, Controllers, General Director, Deputy General Directors, and Chief Accountant of EVN.- Exercise other rights as prescribed by law.

Additionally, Circular 26 stipulates the obligations of the state owner towards EVN as follows:

- Invest sufficient charter capital for EVN.- Comply with the Charter on organization and operation of EVN.- Be responsible for the debts and other asset obligations of EVN within the scope of EVN's charter capital; determine and separate the assets of the state owner and the assets of EVN.- Comply with the law when approving investment guidelines, purchase, sale of assets, and loan contracts of EVN.- Ensure the lawful business rights of EVN.- Perform other obligations as prescribed by law.

See detail in Decree 26/2018/ND-CP effective from February 28, 2018.

-Thao Uyen-

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