Role, responsibility and authority
SAO MANGKON DEVELOPMENT STATE COMPANY is a company under the Ministry of Defense and its business activities are directly supervised by the Ministry of Defense. In order to perform its business operation in compliance with the regulation and law,the company shall have the following roles,responsibilities, and scope of rights
In the past,the company has collaborated with both domestic and foreign investment companies in the mining sector and other industries. This has contributed to generating income and supporting economic and social development,as well as national defense and public security works. SAO MANGKON DEVELOPMENT STATE COMPANY continues to provide social assistance,develop basic infrastructure,support education and culture,and improve living conditions for people living in challenging areas
Roles
Responsibilities
1) Conduct business in all legal and regulations sectors effectively and sustainably
2) Attract and collaborate with both domestic and international investors to ensure that the company's business operations have sufficient capital to generate profits and sustain growth
3) Contribute to the national socio-economic development by providing social assistance,developing basic infrastructure, promoting education and culture, and improving the living conditions of people in difficult areas
4) Contribute to the work of National Defense-Public Security according to the planning of the Ministry of Defense (4 core responsibilities and 26 programs
Authories
1) Have the right to select and attract both domestic and foreign investors to invest in the company, and generate profits from both parties while complying with the regulations and laws of Lao PDR
2) Have the right to represent the Ministry of Defense in research, negotiate, and sign a business partnership contracts with both domestic and foreign companies
3) Have the right to manage joint venture projects that cooperated with both domestic and foreign investment companies
4) Have the right to engage in trade business, including import-export and services related to the purchase of vehicles, military equipment and liquidation as assigned by higher authorities. The company also provides vehicles, equipment, and tools appropriate for business production to all business partners
5) Have the right to conduct business independently by planning and maintaining a self- financial, income-expenditure balance. Also, be responsible for making debt payments in accordance with the principles of conducting business within the market economy mechanism, while also integrating business operations with national defense and public security works
6) Have the right to request the use of armed forces to prevent the location and business activity area as deemed necessary