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Official Gazette

Monday, August 19, 2019
Tags: public company
Intl accounting rules compulsory after 2025: draft Int’l accounting rules compulsory after 2025: draft
The adoption of International Financial Reporting Standards (IFRS) will be compulsory for State-owned enterprises (SOEs), listed companies and large-scale unlisted public companies after 2025, according to a draft project the Ministry of Finance recently made public for comments.
Draft Securities Law proposes expanding foreign holding cap Draft Securities Law proposes expanding foreign holding cap
The Ministry of Finance has recently held a series of conferences to collect opinions from legal experts and stakeholders on the draft Securities Law, focusing on such issues as conditions for acquiring public company status and foreign holding cap in public companies, public offering and private placement of stocks and bonds, powers of the State Securities Commission, and organizational and operational model of Stock Exchanges.
Nine solutions for a sustainable securities market Nine solutions for a sustainable securities market
Since its founding 22 years ago, Vietnam’s securities market has significantly grown and constantly improved its structure as an important capital raising channel of the economy, contributing to improving the market economy institution and promoting international integration.
Decree to speed up SOE equitization Decree to speed up SOE equitization
With a view to removing existing obstacles to accelerate the equitization of state-owned enterprises, the Government on November 22 issued a new decree on transformation of SOEs into joint-stock companies.
New regulations to prevent conflicts of interest in corporate governance New regulations to prevent conflicts of interest in corporate governance
From August 1, members of the board of directors, supervisors, director or director general, and other managers of a public company will be required to make public their related interests as prescribed by law.
Legal framework on anti-corruption responsibility of businesses in Vietnam Legal framework on anti-corruption responsibility of businesses in Vietnam
Over the past few years, enterprises have not only been the “victims” of corruption, power abuse and harassment caused by persons with higher positions and/or power, but also the “cause” of corruption. Many enterprises seek to give bribes to public cadres and civil servants in order to obtain certain business or profit making advantages.
Documents issued from November 9 thru 15 Documents issued from November 9 thru 15
From November 9 thru 15, ten documents were issued.
Sale of shares of equitized SOEs in lots specified Sale of shares of equitized SOEs in lots specified
From September 15, shares of equitized state enterprises neither yet listed on the stock exchanges nor registered for trading on the Unlisted Public Company Market (UpCOM) may be sold in lots through auction at the stock exchanges based on in-lot sale plans approved by competent authorities.
Relaxation of the 49-percent cap on foreign ownership in Vietnamese public companies Relaxation of the 49-percent cap on foreign ownership in Vietnamese public companies
As an effort to attract foreign investors in Vietnam’s stock market, on June 26, 2015, the Government issued Decree No. 60/2015/ND-CP amending some articles of Decree No. 58 (Decree No. 60). Among the changes, the most welcomed amendment is the relaxation of the overall 49-percent cap on foreign ownership in Vietnamese public companies. Decree No. 60 will be effective as of September 1, 2015.
Taking share security in Vietnam: law and practice Taking share security in Vietnam: law and practice
The question, addressed by this article, considers what form of security a creditor may take over shares in a Vietnamese company and how it can enforce the security. This question is rather complex, and this article can do no more than sketch the outlines. It should be also noted that marketable securities such as shares of public companies may be pledged in compliance with specific regulations. 

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