The Commission for Management of State Capital at Enterprises (CMSC) has issued Decision No. 618/QD-UBQLV requiring the MobiFone Corporation to ensure effective management and use of State capital in line with legal regulations.

Accordingly, MobiFone must report to the CMSC and the Ministry of Finance on any increase or decrease in State capital invested in the business.

Regarding capital mobilization, the CMSC said MobiFone is allowed to mobilize and use State capital in corporate business and production activities.

MobiFone can directly take out foreign loans without a government guarantee, and must satisfy the conditions under the law on foreign loans and repayment of foreign debts.

It must use loans for the right purposes and bear all risks and take all responsibilities under the law in mobilizing, managing, and using loan capital and repaying loans on time.

Of note, MobiFone will not be allowed to use assets, capital, and land use rights to contribute capital or invest in property, banking, and securities, except for specific cases approved by the Prime Minister based on a CMSC proposal.