Subjects of the Transfer of the State Ownership Representative Rights at Enterprises

This Circular specifically stipulates the subjects for the transfer of state ownership representation rights at the State Capital Investment Corporation. To be specific, SCIC undertakes the state ownership representation rights at the following types of enterprises:

1. Independent single-member limited liability companies wholly owned by the State, converted from independent state-owned companies or newly established under Ministries or provincial People's Committees;

2. Two-member limited liability companies or more under Ministries or provincial People's Committees;

3. Joint venture companies with state capital contributed by Ministries or provincial People's Committees acting as the owner's representative;

4. Joint-stock companies converted from independent single-member limited liability companies wholly owned by the State or newly established under Ministries or provincial People's Committees;

5. For economic groups, corporations, and other cases, the transfer of state ownership representation rights to SCIC will be implemented following the decision or directive document of the Prime Minister of the Government of Vietnam.

These types of enterprises do not include:

- Agricultural and forestry companies after implementing the reorganization plan approved by the Prime Minister of the Government of Vietnam; enterprises primarily engaged in the production and provision of public service products included in the list of public service products defined by law, whose revenue proportion from the production and provision of public service products to the total revenue of the enterprise reaches 50% or more for three consecutive years preceding the time of transfer consideration;- Enterprises directly serving national defense and security;- State-owned enterprises operating in the field of lottery ticket printing and some other enterprises as decided by the Prime Minister of the Government of Vietnam.

These contents are stipulated in Article 3 of Circular 83/2018/TT-BTC effective from October 15, 2018.

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