On April 14, 2016, in Ho Chi Minh City, Vietnam National Tobacco Corporation held the ribbon-cutting ceremony for Saigon Tobacco Company, the Parent Company, on the basis of transferring Cuu Long, Long An, and Ben Tre Tobacco Companies to become subsidiaries of Saigon Tobacco Company. This event marked the Corporation’s basic completion of the implementation of the Restructuring Project approved by the Prime Minister.
Previously, on April 5, 2016, in Hanoi, the Corporation held the ribbon-cutting ceremony of the Parent Company and subsidiaries of Thang Long Tobacco Company on the basis of transforming Thanh Hoa, Bac Son, and Da Nang Tobacco Companies into its subsidiaries.
The implementation of Decision 166/QD-TTg dated 16/01/2013 of the Prime Minister on approval of the Restructuring Project of the Corporation for the period 2012-2015 and Official Letter No. 633/TTG-DMDN dated 13 May 2015 of the Office of the Government for the adjustment of the Project, with the goal of continuing to promote the leading role of the Corporation in the implementation of the State’s guidelines and policies for the tobacco industry; to build a strong, large-scale State corporation equipped with state-of-art technology; to act as the focal point for arranging and promoting the development of Vietnam’s tobacco industry; to be able to compete with foreign corporations, step by step reaching out to the region and the world. Over time the Corporation has actively implemented the contents of the Restructuring Project in accordance with the proposed roadmap, ensuring prudence and efficiency.
Today the Corporation has basically completed the contents of the Project, with 100% of the restructuring of the core business sectors.
