Rights and Responsibilities of the State Owner's Representative for VIETTEL

To be specific, according to the provisions of Article 22 of the Charter on organization and operation of the Parent Company - Military Industry and Telecoms Group issued together with Decree 05/2018/ND-CP, the representative of the state owner has the following rights and responsibilities towards VIETTEL:

1. Decide on the establishment, objectives, tasks, and business lines; reorganize, convert ownership, dissolve and request bankruptcy; contribute capital to other enterprises of VIETTEL.

2. Approve, amend, and supplement the Charter and the wage management mechanism of VIETTEL.

3. Decide on investment in charter capital; adjust, transfer a part or the whole of the charter capital of VIETTEL.

4. Decide on the organizational management structure of VIETTEL; appoint, reappoint, dismiss, resign, reward, discipline the Chairman, General Director, Controller at VIETTEL.

5. Decide on the strategy, business and production plan, and development investment plan of VIETTEL.

6. Decide on investment policies, purchase, sale of assets, and loan contracts, lending and other contracts of VIETTEL within the appropriate jurisdiction according to the provisions of law and the Charter on organization and operation of the Parent Company - Military Industry and Telecoms Group.

7. Regulate financial policies, profit distribution, establishment, and use of funds; issue the Financial Management Regulation of VIETTEL and approve the annual financial statements of VIETTEL.

8. Decide on market development, marketing, and technology solutions; regulate the mechanism of assigning tasks and participating in providing and securing essential public products and services of the economy.

9. Supervise, inspect, and audit compliance with the law; evaluate the performance of the assigned objectives and tasks, the operational results, and the business efficiency; manage, use, preserve, and develop the capital of VIETTEL. Evaluate the Controller, Chairman, General Director, Deputy General Director, and Chief Accountant of VIETTEL in the management and operation of VIETTEL.

10. Exercise other rights as prescribed by law and the Charter on the organization and operation of the Parent Company - Military Industry and Telecoms Group.

At the same time, the representative of the state owner must have the following obligations towards VIETTEL:

1. Invest sufficient charter capital for VIETTEL.

2. Comply with the Charter on the organization and operation of the Parent Company - Military Industry and Telecoms Group.

3. Be responsible for the debts and other property obligations of VIETTEL within the limit of the charter capital of VIETTEL.

4. Comply with the law when approving investment policies, purchasing, selling assets, loan contracts, lending, and other contracts of VIETTEL.

5. Ensure the lawful business rights of VIETTEL.

6. Perform other obligations as prescribed by law and the Charter on the organization and operation of the Parent Company - Military Industry and Telecoms Group.

Decree 05/2018/ND-CP on the Charter on the organization and operation of the Parent Company - Military Industry and Telecoms Group took effect on January 5, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE