Vietnam PM approves charters of Vinalines and Vinacafe

The Vietnamese prime minister March 31 approved the Charters on organization and operation of two state-owned corporations including Vietnam National Shipping Lines (Vinalines) and Vietnam National Coffee Corp (Vinacafe).

The prime minister signed Decision No 476/QD-TTg approving Vinalines to transform into a state-owned one-member limited company with a chartered capital at 8.09 trillion dong till June 25, 2010.

Under this decision, Vinalines will specialize in sectors of oceangoing transport, waterways, road transport and multimodal transport, exploitation of seaport and river port and brokerage agent for providing maritime services and shipping supply.

Vinalines’ membership council will not exceed seven people and the term of these members will be five years. The member of the membership board may be reappointed.

Vinalines have 15 branches and nearly 70 companies including 31 subsidiaries and 38 associated companies.

On the same day, the prime minister also signed another Decision No 475/QD-TTG approving the charter on operation and organization of Vietnam National Coffee Corp (Vinacafe) with a chartered capial till December 31, 2009 at 1.15 trillion dong.

Accordingly, Vinacafe will be a state-owned one-member limited company and operate and organize in accordance with the Law on Business, related legal regulations and the operation and organization regulations of Vinacafe.

Vinacafe will specialize in growing, producing, doing business and export and import of coffee, pepper, cashew, food, agricultural products and other industrial trees, processing industry of coffee, tea, rubber, cocoa, cashew and pepper, sugar, treacle, agricultural products and food.

Vinacafe’s membership council will not exceed five people, of which, the chairman and members of the membership council will be appointed by the PM. The term of member will be five year and the member of the membership board may be reappointed.

Vinacafe has internal control board established by the membership council and directly under the membership council.

Vinacafe’s membership units include 16 holding companies such as Dak Ha Coffee Export and Import Co (Vinacafe Dak Ha), Coffee Co No 331 (Vinacafe 331), Da Lat Coffee Export Import Co (Vinacafe Da Lat)…, 28 one-member limited companies with 100% stake held by Vinacafe, 8 subsidiaries with the domination stake held by Vinacafe and 6 associated companies. – Vietbiz24

Tags: VINACAFÉ, Vinalines