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Official Gazette

Thursday, June 4, 2020
Tags: private enterprises
PM requests stable production activities PM requests stable production activities
Prime Minister Nguyen Xuan Phuc has requested sectors and businesses to make sure production activities continue as normal, despite the outbreak of SARS-CoV-2.
Official Gazette issues Nos 97-100/2019 available on January 10 2019 Official Gazette issues Nos 97-100/2019, available on January 10, 2019
Anti-money laundering regulations to be revised Anti-money laundering regulations to be revised
Payment intermediary service providers would have to apply measures to prevent and combat money laundering as financial institutions do. Such is provided in a draft decree prepared by the State Bank of Vietnam to revise several articles of Decree 116 of 2013.
Party determines to embrace Fourth Industrial Revolution Party determines to embrace Fourth Industrial Revolution
On September 27, Party General Secretary Nguyen Phu Trong signed Resolution 52-NQ/TW, on a number of policies on the nation’s proactive involvement in the Fourth Industrial Revolution, affirming that the nation will take strong actions to take advantage of opportunities brought by the Revolution. Vietnam Law and Legal Forum would like to introduce important contents of this Resolution.
PM highlights development potential of private economic sector PM highlights development potential of private economic sector
There is room for the private economic sector to further develop, Prime Minister Nguyen Xuan Phuc affirmed during a reception for representatives from the Vietnam Private Business Association in Hanoi on June 17.
Nation expects to have at least 1.5 million private enterprises by 2030 Nation expects to have at least 1.5 million private enterprises by 2030
By 2030, there would be at least 1.5 million private enterprises operating in Vietnam. It is a target set in a draft plan on sustainable development of private enterprises by 2030 prepared by the Ministry of Science and Technology.
GDP growth rate highest in 11 years GDP growth rate highest in 11 years
Prime Minister Nguyen Xuan Phuc chaired the Government’s regular meeting on December 27, during which he shared that Vietnam’s GDP growth rate rose 7.08 per cent in 2018 - the highest rate for the past 11 years.
Luật doanh nghiệp – Law on Enterprises (in 2014) Luật doanh nghiệp – Law on Enterprises (in 2014)
The Law on Enterprises was passed on November 26th, 2014, by the XIIIth National Assembly of the Socialist Republic of Vietnam at its 8th section and took effect on July 1st, 2015, replacing the Law on Enterprises in 2005 and Law on amending and supplementing of Article 170 of the Law on Enterprises in 2013. This Law prescribes the establishment, management organization, reorganization and dissolution of, and activities related to, enterprises, including limited liability companies, joint stock companies, partnerships and private enterprises; and prescribes corporate groups. To facilitate readers in the search and application of the Law, the National Political Publishing House collaborates with the Editortal Board of the Vietnam Law and Legal Forum magazine under Vietnam News Agency (the sole agency authorized in translating “Cong Bao” (Official Gazette) into English) to publish Vietnamese – English bilingual the Current Law on Enterprises (in 2014). The English version is for reference only.
Control and handling of corrupt acts in the private sector through accountability mechanism 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.
Party resolves to streamline the political system apparatus Party resolves to streamline the political system apparatus
The 12th Central Committee of the Communist Party of Vietnam on October 25 issued Resolution 18 setting specific targets for further renovating and restructuring the apparatus of the political system. Following are principal contents of the Resolution.

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