PANO – A ceremony to review and approve projects restructuring the Dong Bac Coal Corporation and the One-member Limited Liability Company 16 (or Army Corps 16), their and production plans in 2014, was held on March 14th under the chair of Senior Lieutenant General Le Huu Duc, Deputy Minister of National Defence.

Having been briefed on restructuring projects and production plans by the two units’ leaders and comments by relevant agencies, General Duc highly valued their achievements in conducting tasks and running business.

He agreed that the corporation will continue 42 business lines from the existing 71, withdraw capital from joint ventures, rearrange 21 constituent departments in the new restructured organization, privatize its 11 one member limited liability companies by 2017, and build up a business strategy until 2020 with a vision towards 2030.

Meanwhile, the One-member Co. Ltd. 16 would restructure to Corporation 16 as the parent company with subsidiaries, holding its charter capital of VND 350 billion for existing 18 business lines.

The general also asked the two companies to focus on political missions, effectively implement national defence and security tasks in localities where they are stationed, well manage debts, ensure workplace safety regulations, and improve business management and administration.

Translated by Van Hieu