Luật doanh nghiệp – Law on Enterprises (in 2014)
The Law on Enterprises was passed on November 26th, 2014, by the XIIIth National Assembly of the Socialist Republic of Vietnam at its 8th section and took effect on July 1st, 2015, replacing the Law on Enterprises in 2005 and Law on amending and supplementing of Article 170 of the Law on Enterprises in 2013. This Law prescribes the establishment, management organization, reorganization and dissolution of, and activities related to, enterprises, including limited liability companies, joint stock companies, partnerships and private enterprises; and prescribes corporate groups.
To facilitate readers in the search and application of the Law, the National Political Publishing House collaborates with the Editortal Board of the Vietnam Law and Legal Forum magazine under Vietnam News Agency (the sole agency authorized in translating “Cong Bao” (Official Gazette) into English) to publish Vietnamese – English bilingual the Current Law on Enterprises (in 2014). The English version is for reference only.
Personal liability and corporate liability under new Penal Code
On June 20, 2017, the National Assembly passed the revised Penal Code. It became effective on January 1, 2018. Several significant changes have occurred. Several acts, previously criminal, are no longer punishable. On the other hand, several previously innocent acts have been criminalized. One very large change is that an enterprise-not just an individual-may now be guilty of a crime1.
National Assembly passes seven laws during fifth session
After three weeks of sitting, the 14th National Assembly completed its working agenda of the fifth session, voting to pass seven laws to continue the institutionalization of the 2013 Constitution, improve the legal system on economic development, human rights, and basic rights and obligations of citizens, and ensure national defense and security.