Regulations on administering business costs of Vinacomin

Regulations on administering business costs  of Vinacomin - 

Vietnam National Coal and Mineral Industries Group (Vinacomin) has issued the Regulations on administering business costs within the Parent company – Subsidiary company Complex in order to united regulating mechanisms and methods on administering business costs in the Group.  

The Regulations include 4 chapters and 9 clauses that regulate in detail the mechanisms and methods on administering business costs, correct the flat rate norms, define the saving and overspending levels, and assess the degree of completion of the year plan…

The Regulations applied for Parent Company – Vinacomin including the companies directly under Vinacomin, Subsidiary companies participating in business co-ordinate plans in the Group. Vinacomin to base on the Regulations to choice, decide the flat rate norms and optimal business plan, define ‘to buy and sell’ relation between Vinacomin and Contractor companies in the Group for coal mining, sort out and processing, and on this basic to perfect apparatus and modern business management tools, manage costs and prices, control costs, cost and purchase prices within the Group, prevent and take measure to treat the violations in administering costs, cost and purchase prices for protecting interests of the labors, enterprises and state. The subsidiary and directly under Vinacomin companies base on these regulations to carry out the business internal costs administration flat rates, establish alternatives of cost and purchase prices for their products and services of participating in the business co-ordinate plans within in the Group.

The parent companies including directly under Vinacomin and subsidiary ones, when participating in the business co-ordinate plans have to comply with these Regulations and the regulations of current laws, themselves cover all the expenses by their incomes, be responsible for the business internal costs administration flat rates, and the results of their production and business activities.

The flat rate norms should be corrected only in the cases of: objectively changing technical or technological norms that checked and quarterly confirmed by direction of Vinacomin General Director and/or Deputy Directors in charge, and approved for correction by Vinacomin Single Member Council; changing policies, regimes, prices of several input items; objectively changing market and force majeure (economic crisis, natural calamites and enemy-inflited destruction, mine fire and flood…) that affect the production and business activities of the company.

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