Control and handling of corrupt acts in the private sector through accountability mechanism
Corruption in the non-state business sector happens when someone takes advantage of his/her position in his/her enterprise for the sake of his/her personal gains. In Vietnam, the 2015 Penal Code (revised in 2017) has broadened the scope of corrupt acts to include corruption occurred in the private sector. Specifically, persons with high positions and/or powers in a non-state enterprise or organization will be liable for the following criminal acts: embezzlement, receiving bribes, giving bribes and bribery brokerage. However, in order to effectively prevent and combat corruption in the private sector, holding persons committing corrupt acts liable is not sufficient enough.
Vietnamese rules on compensation for contractual damage
In both legal theory and civil transaction practice, regulations on liability to compensate for contractual damage always play an important role. Theoretically, it is the concretization of the principles of equality, free will, good will, binding of contract, and theories of fault and damage in civil liability.