Resolution 03/2002/NQ-CP

On March 4 and 5, 2002, the Government held its February regular meeting, discussing and resolving the following issues:

- The Government heard the Minister of Planning and Investment, who is also Chairman of the State Expertise Council for Son La hydro-power project, presenting the supplementary expertise report on Son La hydro-power project according to the contents requested by the National Assembly. Son La hydro-power project is a large-scale project of special importance for the cause of socio-economic development, which, however, involves numerous complicated matters in the overall consideration thereof. Therefore, until now opinions on this project still diverge. The Government affirmed that the formulation of the project on Son La hydro-power plant must take into consideration all factors, of which the safety factor must be on top. The Government assigned the Ministry of Planning and Investment to assume the prime responsibility and coordinate with the concerned agencies in finalizing the document thereon for the Prime Minister to submit it to the Xth National Assembly at its 11 session for the latter to decide on the size of Son La hydro-power plant;

- The Government gave its comments on the draft decree which shall replace the Government�s Decree No. 44/1998/ND-CP of June 29, 1998 on converting State enterprises into joint-stock companies;

- The Government heard the Minister of Planning and Investment reporting on the issuance of documents on the experimentation of the form of foreign-invested joint-stock company. It assessed that permitting foreign-invested enterprises to operate in the form of joint-stock company is a new matter, which has been mapped but not yet legalized, hence, it must be studied carefully in order to select optimum solutions. For that reason, it must be carried out on an experimental basis so as to step by step draw experiences and complete the legal framework for wider application, then proceed to create firm grounds for adding the form of joint-stock company to the Law on Foreign Investment in Vietnam.

- The Government considered the socio-economic situation in February and the first two months of 2002.- (Summary)