Mr. Nguyen Duc Cuong has been appointed as the legal representative of the Company in accordance with the Charter of Organization and Operation of the National Power Transmission and Trading Company Limited (NSMO), replacing Mr. Nguyen Duc Ninh, Acting Director of NSMO.
Mr. Cuong, 52, is from Ha Nam province. He was one of the first generations of engineers at the National Power Dispatch Center (A0) since 1993 and has worked for Vietnam Electricity (EVN) and the National Power Transmission Corporation.
In 2015, Mr. Cuong was appointed as the Director of A0 and officially became a member of the Board of Members of EVN in February 2020.
New Chairman of the Members’ Council of NSMO.
On August 5, the Chairman of the State Capital Management Committee at enterprises signed a decision to appoint Nguyen Duc Ninh as Acting Director of NSMO.
Earlier, on August 1, the Prime Minister issued Decision No. 752 on the separation of A0 Center from EVN and the policy on the establishment of NSMO, which is directly under the State Capital Management Committee at enterprises.
NSMO is a state-owned enterprise with 100% state-owned capital, organized in the model of a single-member limited liability company by the State Capital Management Committee at enterprises as the representative of the owner. The headquarters of NSMO is located at 11 Cua Bac Street, Ba Dinh District, Hanoi.
NSMO’s chartered capital at the time of its establishment was VND 776 billion, and it will carry out the task of dispatching the national power system and managing power market transactions in accordance with the Law on Electricity and related laws.
According to the Prime Minister’s decision, NSMO will inherit the entire workforce of A0 from EVN at the time this Decision takes effect, including inheriting the management structure of A0 (continuing to arrange A0’s leadership team in corresponding leadership positions at NSMO).
With two loans under Agreement 4107-VN (Project for a New National Power Dispatch Center) and Agreement 4711-VN (Project for Information Infrastructure for a Competitive Power Generation Market), EVN remains responsible for repaying the relending to the authorized relending agency in accordance with the signed relending contract. NSMO is responsible for reimbursing EVN for the repayment to the authorized relending agency.
The Ministry of Finance will coordinate with the authorized relending agency, EVN, and NSMO in collecting the relending debt from the authorized relending agency, EVN, and NSMO.
The Prime Minister also assigned the Ministry of Industry and Trade to take primary responsibility for preparing all necessary conditions to receive NSMO, including ensuring working capital for NSMO. The Ministry of Finance will provide input on NSMO’s financial management regulations and other relevant regulations.
It is known that this afternoon (August 12), the Ministry of Industry and Trade will officially receive the transfer of NSMO from EVN to the State Capital Management Committee at enterprises.
