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| Five decrees guiding the 2014 Law on Management and Use of State Capital in Enterprises remain in effect from August 1 until they are replaced or annulled__Photo: VNA |
To ensure legal continuity in state capital management, the Government has issued Resolution 253/NQ-CP extending the validity of five key decrees guiding the implementation of the Law on Management and Use of State Capital Invested in Production and Business at Enterprises (Law 69/2014/QH13). These decrees will continue to apply from August 1, 2025, until new replacement documents are promulgated.
This measure is aimed at ensure consistency within the legal system and avoiding regulatory gaps, pending the issuance of detailed implementing instruments guiding Law 68/2025/QH15 on Management and Investment of State Capital in Enterprises.
According to the Resolution, legal documents issued between 2015 and 2024 on the management and use of state capital, equitization of state-owned enterprises (SOEs), investment supervision, and the responsibilities of state ownership representatives will remain in effect from August 1, 2025, until they are replaced or annulled. Among them are five key decrees.
First, Decree 87/2015/ND-CP of October 6, 2015, on supervision of state capital investment in enterprises; financial supervision, performance evaluation, and disclosure of financial information by SOEs and enterprises with state capital. This decree is regarded as a crucial instrument for enhancing financial transparency in the state enterprise sector.
Second, Decree 126/2017/ND-CP of November 16, 2017, on the conversion of SOEs and wholly state-owned single-member limited liability companies into joint stock companies (as amended and supplemented by Decree 140/2020/ND-CP of November 30, 2020). This decree serves as the principal legal framework governing the equitization process, a central component of SOE restructuring.
Third, Decree 23/2022/ND-CP of April 5, 2022, which provides the framework for the establishment, reorganization, ownership transformation, and transfer of state ownership rights in wholly state-owned enterprises. This decree is a key instrument in the process of restructuring the state enterprise system toward greater efficiency and streamlining operations.
Fourth, Decree 91/2015/ND-CP of October 13, 2015 (as amended and supplemented by Decree 32/2018/ND-CP of March 8, 2018; Decree 121/2020/ND-CP of October 9, 2020; Decree 140/2020/ND-CP of November 30, 2020; and Decree 167/2024/ND-CP of December 26, 2024) will also remain in effect.
This decree provides detailed regulations on state capital investment in enterprises, as well as the management and use of capital and assets in such enterprises. The extension of its validity, together with subsequent amendments, underscores the importance of effective management of state capital and public assets.
Fifth, Decree 10/2019/ND-CP of January 30, 2019 (as amended and supplemented by Decree 97/2024/ND-CP of July 25, 2024) on the exercise of rights and responsibilities of state ownership representatives is also included in the list. This decree establishes the legal basis for clearly delineating powers, responsibilities, and supervisory mechanisms, thereby ensuring the effective management of state capital in enterprises.
Resolution 253/NQ-CP also affirms that the implementation of the newly adopted Law on the Management and Investment of State Capital in Enterprises and related documents will comply with Clause 3, Article 58 of the 2025 Law on Promulgation of Legal Documents. In cases where legal documents contain differing provisions on the same matter, the one with higher legal validity will prevail.- (VLLF)
