In an interview granted to the Đầu tư (Investment) Newspaper, Nguyen Van Phuc, Vice Chairman of the National Assembly’s Economic Committee, proposed the Government not to compel enterprises to use their seals.
Export garment production in limited liability company 888 (Thanh Hoa province)__Photo: Dinh Hue/VNA
As regulated in the draft Amended Law on Enterprises, an enterprise must have its own seal like an asset of the enterprise. Does this mean an enterprise is required to have a seal for its operation?
An enterprise must have its own seal but needs not to put this seal to all documents, papers, dossiers and contracts. The Government will detail this issue when guiding the Amended Law on Enterprises.
International organizations, particularly the International Finance Corporation, affirm that Vietnam’s business environment ranking will be much improved if the country simplifies its procedures on enterprise seals. Enterprises have the right to own seals, but are not compelled to use them in all cases.
So the seals are no longer needed for enterprises?...