Guidelines on the Board of Directors of State-owned Enterprises
关于国有企业董事会的指导意见
ຄຳແນະນຳ ວ່າດ້ວຍ ສະພາບໍລິຫານ ລັດວິສາຫະກິດ
Summary
This guidance issued by the Ministry of Finance of Laos, based on the Enterprise Law (amended) and other regulations, details and guides the duties, powers, standards, selection, and operational norms of boards of directors and state shareholder representatives in state-owned enterprises, applicable to enterprises wholly owned by the state and state-owned joint ventures where the state holds more than 50% of shares.
Articles
Article 1
Purpose. This Guidance aims to elaborate and implement the relevant provisions of Part II of the Enterprise Law No. 46/National Assembly (promulgated on December 26, 2013) and the Decree on State-Owned Investment Enterprises, making the content of the aforementioned laws and decrees more detailed and clear, enhancing the understanding of the mission, status, rights, obligations, and responsibilities of the Board of Directors and the State representative holding shares in enterprises; this Guidance also provides guiding principles on the selection methods, appointment, and working methods of the Board of Directors of state-owned enterprises and the State representative in joint ventures with other parties (where the State holds more than fifty percent of the shares), serving as a guide for the organization, implementation, and conduct of practical work, unifying the leadership, guidance, and management of state-owned enterprises nationwide, making them efficient, effective, and strong, and capable of competing regionally and internationally.
Article 2
Board of Directors. The Board of Directors of a state-owned enterprise is the highest organizational body of a state-owned enterprise with one hundred percent state ownership, consisting of five or more members, the number of which shall be determined by the size and structure of the enterprise. This includes the Chairperson, Vice Chairperson, and several board members, all of whom are persons appointed to represent the interests of the state or shareholders, responsible for leading and guiding the management of the state-owned enterprise's business operations. When necessary, the Chairperson or several board members may be stationed at strategic enterprises. Among the board members, female members should preferably account for more than ten percent of the total number of board members.
Article 3
State-owned enterprises. A state-owned enterprise or enterprise of the state refers to an enterprise unit established by the state, or converted to state ownership through unanimous agreement, or whose shares in other enterprises are acquired by the state, and in which the state holds more than fifty percent of the shares; because this proportion is the ratio at which the state has the right to manage and decide on the units in which it invests and operates. In cases where a state-owned enterprise is established and operates in the form of a company, it is referred to as a state-owned company.
Showing the first 3 of 32 articles. Open the LaoPaniti app for the full trilingual text.
Read the full trilingual text with AI explanation in the LaoPaniti app← LaoPaniti home: AI legal Q&A · contract drafting · Chinese-Lao translation