Deputy Prime Minister Ho Duc Phoc has just signed Decision No. 1271/QD-TTg approving the Project to restructure Vietnam Electricity Group (EVN) for the period up to the end of 2025.
According to the plan, the parent company - EVN continues to be a one-member limited liability company with 100% of charter capital held by the State in accordance with Decision No. 1479/QD-TTg dated November 29, 2022 of the Prime Minister; maintaining the affiliated units (except for Thai Binh Thermal Power Company and Vinh Tan 4 Thermal Power Plant).
Thai Binh Thermal Power Company will carry out the merger according to a separate project to establish a single-member LLC after the competent authority approves the establishment policy.
Vinh Tan 4 Thermal Power Plant will carry out the arrangement according to a separate project on establishing a single-member LLC after the competent authority approves the establishment policy.
Enterprises in which EVN continues to hold 100% of charter capital include: National Power Transmission Corporation; Northern Power Corporation; Central Power Corporation; Southern Power Corporation; Hanoi Power Corporation; Ho Chi Minh City Power Corporation; Power Generation Corporation 1; Thu Duc Thermal Power Company Limited.
Enterprises in which EVN maintains a holding ratio of over 50% of charter capital include: Power Construction Consulting Joint Stock Company 1; Power Construction Consulting Joint Stock Company 2; Power Construction Consulting Joint Stock Company 4; Power Generation Corporation 2 - JSC; Power Generation Corporation 3 - JSC.
Enterprises in which EVN maintains a holding ratio of less than 50% of charter capital include: Power Construction Consulting Joint Stock Company 3; Dong Anh Electrical Equipment Corporation - JSC; Vinh Tan 3 Energy Joint Stock Company.
Regarding the implementation roadmap, EVN focuses on restructuring the organization and ownership, striving to complete the plan to arrange and restructure EVN and EVN member units according to the plan approved by competent authorities by the end of 2025.
EVN continues to hold 100% of capital or controlling shares in subsidiaries in EVN's main business fields, sectors and lines (electricity generation, electricity transmission, electricity distribution and trading, electricity construction consulting) until 2025 in accordance with the criteria for classifying state-owned enterprises.
By the end of 2025, the organizational model and apparatus will be streamlined; operate effectively, balance finances; average annual labor productivity will increase by over 8%/year; corporate governance will meet international standards; have modern technology, become an enterprise operating under the digital enterprise model by 2025; complete research and implementation of energy transition; develop sustainably and be competitive regionally and internationally.
