Right to Conduct Business and Organize Business Activities of Vietnam Railways Corporation

According to the provisions of Article 11 of the Charter on the organization and operation of Vietnam Railway Corporation issued together with Decree 11/2018/ND-CP, the Vietnam Railway Corporation has the following rights:

1. Organize production and business activities; organize the management apparatus according to production and business requirements and ensure effective business operations.

2. Engage in the sectors, trades, and fields specified in Clause 3, Article 4 of the Charter on the organization and operation of the Vietnam Railway Corporation and other sectors as decided by the state owner; expand the scale of business according to the capacity and market demand domestically and internationally in compliance with the law.

3. Preside over the management and operation of transportation exploitation for economic components participating in transportation business on the national railway under the law.

4. Decide the purchase price and selling price of products and services of the Vietnam Railway Corporation, excluding the prices of public utility products and services as determined by the competent authority.

5. Decide investment projects according to the provisions of investment law and other relevant regulations; use the capital and assets of the Vietnam Railway Corporation for joint ventures, alliances, and capital contributions to other enterprises; lease, purchase part or entire companies domestically and internationally in accordance with the law.

6. Use state capital recovered from equitization, transfer part or all the capital that the Vietnam Railway Corporation has invested in its subsidiaries, affiliates, or associated companies as prescribed by law.

7. Decide the establishment, reorganization, dissolution of subordinate units; decide on investment to establish new, reorganize, dissolve, convert ownership of subsidiaries after obtaining approval from the competent authority.

8. Decide on capital contribution, holding, increasing, decreasing the capital of the Vietnam Railway Corporation in other enterprises; accept enterprises voluntarily participating as subsidiaries, affiliates after obtaining the approval from the Ministry of Transport.

9. Decide on purchase, sale, loan, lending contracts and other contracts as prescribed by law.

10. Recruit, sign labor contracts; arrange, utilize, train, reward, discipline, terminate labor contracts; choose forms of salary and bonus payment for employees based on production and business efficiency and the provisions of labor, wage, and salary law.

11. Develop, promulgate, and apply standards, processes, technical norms, economic-technical norms, labor norms, wage unit prices, and other costs to be applied uniformly within the Vietnam Railway Corporation, ensuring business efficiency and in accordance with the law.

12. Other rights as prescribed by law.

Refer to related contents at: Charter on the organization and operation of the Vietnam Railway Corporation issued together with Decree 11/2018/ND-CP effective January 16, 2018.

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