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Official Gazette

Tuesday, June 18, 2019
Tags: state-owned enterprises
Legislators comment on Governments development reports Legislators comment on Government’s development reports
The National Assembly Standing Committee on May 8 commented on the Government’s reports which gave additional assessments on the socio-economic development and state budget situation in 2018 and the first months of this year.
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.
PM sets deadline for state enterprise restructuring PM sets deadline for state enterprise restructuring
The Prime Minister has recently urged the restructuring, renewal, equitization and state capital divestment of state-owned enterprises.
Enhance accountability for SOEs: PM Enhance accountability for SOEs: PM
Prime Minister Nguyen Xuan Phuc asked accountability to be enhanced in the restructuring and divestment of State-owned enterprises to improve the efficiency of the process.
New circular on securities-related service prices New circular on securities-related service prices
The Ministry of Finance has issued new securities-related service regulations for trading organizations and commercial banks doing business in Vietnam’s securities market.
Foreign capital attraction to see new forms: expert Foreign capital attraction to see new forms: expert
Vietnam needs to learn about new forms of investment to raise appropriate policies for attracting foreign money, according to chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai.
Building on 2018 successes 2019 will be a year of breakthroughs: PM Phuc Building on 2018 successes, 2019 will be a year of ’breakthroughs’: PM Phuc
This will be a year of ‘breakthroughs’ in all sectors and see all striving towards “the highest achievements,” Prime Minister Nguyen Xuan Phuc wrote in an article issued on the first day of 2019 that summarized socio-economic development in 2018 and laid down orientations for 2019.
Is it better to arbitrate in Vietnam or to arbitrate abroad? Is it better to arbitrate in Vietnam or to arbitrate abroad?
Three types of dispute qualify for arbitration in Vietnam. Firstly, disputes involving “commercial activity” can be arbitrated. Commercial activity is any “activity with a profit-making purpose comprising the purchase and sale of goods, provision of services, investment, commercial enhancement, and other activities for profit-making purposes.” Secondly, arbitration is allowed if one party to the contract is engaged in a commercial activity, say, a vendor in a dispute with a customer. Finally, the law requires that some disputes be settled by arbitration. Disputes that are specifically stipulated by law also qualify for arbitration. For example, contracts that relate to investments under the 2014 Law on Investment, qualify for arbitration. Arbitration is not a general right. Use of arbitration is subject to agreement. That is, the parties have to agree to arbitrate. Agreement to arbitrate can be made in any written form. The agreement may be part of an underlying agreement that is itself in dispute or it may be a separate agreement to arbitrate. Any modification, extension, termination, or invalidity of the contract will not affect the arbitration clause. This follows the separability doctrine of the New York Convention.
Super committee for State-run firms debuts “Super committee” for State-run firms debuts
Vietnam’s Committee for State Capital Management, known as the Super Committee, made its debut on September 30. It will manage 19 State-owned economic groups and corporations.
Toward a more effective financial disclosure system in Vietnam: a discussion on the draft revised Law on Anti-Corruption Toward a more effective financial disclosure system in Vietnam: a discussion on the draft revised Law on Anti-Corruption
While an effective financial disclosure system requiring politicians and public officials to report on their assets and incomes can help detect and prevent corrupt practices, it can also help build public confidence and trust in the integrity of politicians and the public service.

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