The Chairman of the State Capital Management Committee at Enterprises signed and issued Decision 355 assigning the authority of NSMO General Director to Mr. Nguyen Duc Ninh - Director of A0 - to perform the duties of NSMO General Director until the competent authority issues a new appointment decision.

Thus, Mr. Nguyen Duc Ninh is currently the legal representative as stipulated in the operating charter of NSMO - when this company was established on the basis of separating A0 from Vietnam Electricity Group (EVN) and the policy of establishing NSMO under the State Capital Management Committee at enterprises.

Temporary transfer of management rights when separating A0 from EVN

According to the decision just issued by the Government on August 1, NSMO is a state-owned enterprise in which the State holds 100% of the charter capital, organized under the model of a one-member limited liability company.

The National Electricity System and Electricity Market Operation Company Limited will continue to act as the national electricity system dispatching agency, operating electricity market transactions according to the provisions of the Electricity Law and related laws.

With a charter capital of 776 billion VND, the National Power System and Electricity Market Operation Company Limited will receive the entire workforce of the National Power System Dispatch Center from EVN. This includes receiving the entire management apparatus of A0 on the basis of continuing to arrange A0's leadership and management staff into the corresponding leadership positions of NSMO.

The National Power System and Electricity Market Operation Company Limited inherits all rights, obligations and legal interests of the Power System Dispatch Center currently implemented by A0 and EVN related to A0 according to the provisions of law.

At the same time, the Prime Minister issued a decision approving the policy of transferring the right to represent the ownership of state capital at the National Electricity System and Electricity Market Operation Company Limited from the State Capital Management Committee at Enterprises to the Ministry of Industry and Trade .

The Ministry of Industry and Trade will prepare all necessary conditions to receive the National Electricity System and Electricity Market Operation Company Limited, including a mechanism to ensure working capital and stable, continuous and effective operation after the transfer.

Ministry of Industry and Trade sets up working group to receive A0

Regarding the labor utilization plan, NSMO will receive the current status of A0's workforce from EVN at the time this decision takes effect, including receiving the current status of A0's management apparatus (continuing to arrange A0's leadership and management staff into corresponding leadership positions of NSMO).

Regarding the method of separating A0 from EVN and establishing NSMO, the assets, rights and obligations of EVN that are currently being managed and implemented by A0 will be separated and transferred to NSMO according to regulations...

It is known that the Ministry of Industry and Trade has also established a working group to receive A0 and deploy detailed and specific tasks for each unit.

The Minister of Industry and Trade requested that before August 31, the Electricity Regulatory Authority shall preside over and coordinate with NSMO and relevant departments and offices of the Ministry of Industry and Trade to study and propose to amend, supplement, and promulgate new necessary mechanisms for NSMO to operate effectively.