Rights of VIETTEL in Business Activities

To be specific, as stipulated in Article 12 of the Charter on the organization and operation of the Parent Company - Military Industry and Telecoms Group issued together with Decree 05/2018/ND-CP, in business activities, VIETTEL has the following rights:

1. Proactively organize production, business, and coordination plans; manage the organizational structure according to business requirements to ensure effective operations.

2. Engage in industries, professions, and sectors not prohibited by law; expand the scale and scope of business based on market demand both domestically and internationally, in accordance with legal regulations.

3. Seek markets and customers domestically and internationally; enter into and execute contracts; decide on the coordination of resources and business cooperation between VIETTEL and its subsidiaries as per market demands.

4. Determine the purchase and sale prices of products and services, except for public service products and services priced by the State.

5. Decide on investment projects, construction, and procurement of fixed assets; use VIETTEL's capital, assets, and land use rights for external investments in accordance with the law and this Charter. Organize contractor selection according to procurement laws and this Charter.

6. Decide on contributing capital, increasing, or reducing VIETTEL's capital in other enterprises; lease, purchase part or whole, of another company; accept other companies voluntarily affiliating with VIETTEL in compliance with laws and the Charter.

7. Utilize proceeds from equitization, restructuring, and other transformation forms such as transfer, sale, dissolution, and bankruptcy of VIETTEL's subsidiaries as per legal regulations. Utilize proceeds from divestments from subsidiaries or affiliate companies as approved by competent state authorities and in accordance with the law.

8. Decide on borrowing, lending, purchasing, selling assets, and other contracts as per the law and the Charter.

9. Determine the establishment, reorganization, ownership transfer, dissolution, and bankruptcy petitions; capital increases and decreases for wholly owned subsidiaries of VIETTEL. Establish wholly owned subsidiaries and organize wholly owned subsidiaries as Parent companies operating in both domestic and international contexts in accordance with the law and the Charter.

10. Decide on the establishment, dissolution, and termination of dependent units of VIETTEL domestically and internationally according to legal regulations and the Charter.

11. Together with other investors (not including VIETTEL subsidiaries and dependent units), establish new subsidiaries or affiliate companies domestically and internationally under the forms of limited liability companies, joint-stock companies, or foreign-invested companies as per Vietnamese and investing country laws.

12. Invest abroad in accordance with foreign investment laws.

13. Decide on the appointment, dismissal, resignation, promotion, salary increment, grouping and grading salary adjustments, dismissal, commendation, discipline, and demobilization for VIETTEL's officers in accordance with the Military Personnel Regulations of the Vietnam People's Army, Ministry of Defense, other relevant laws, and this Charter.

14. Decide on recruitment, signing labor contracts, arrangement, utilization, training, reward, discipline, and termination of labor contracts for VIETTEL employees in line with business production requirements and labor laws.

15. Formulate, approve, issue, and apply internal management regulations, standards, procedures, norms, economic-technical norms, product quality criteria, costs, procurement, labor regulations; salary scales, salary tables, unit price salaries, wage policies, bonuses, and other financial policies ensuring business efficiency and compliance with legal norms.

16. Enjoy investment and reinvestment incentive policies; exercise ownership rights over the capital invested by VIETTEL in subsidiaries and affiliate companies following legal regulations.

17. Exercise other production and business rights according to market demands and legal regulations.

See more: Decree 05/2018/ND-CP effective from January 5, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE