10 important obligations of the Vietnam Debt and Asset Trading Corporation (DATC) according to Decree No. 129/2020/NĐ-CP

According to the Decree No. 129/2020/NĐ-CP of Vietnam’s Government, 10 important obligations of the Vietnam Debt and Asset Trading Corporation (DATC) include:

1. Receive and use capital, land and other resources assigned by the State to do business and perform tasks assigned by the State on the principle of efficiency, preservation and development of state capital.

2. Fulfill tax payment obligations and other payables to the state budget in accordance with law.

3. Perform obligations towards employees in accordance with provisions of the Labor Code of Vietnam and other provisions of law.

4. Implement accounting, auditing and financial reporting regimes, statistical reports, periodical reports in accordance with the law and at the request of the agency representing the owner; take responsibility for the accuracy of the reports.

5. Organize the management, control and administration in order to effectively use capital, resources assigned by the State and other resources in the operation of the Company.

6. Disclose financial information and other information about the Company's operations in accordance with the law on information disclosure of wholly State-owned enterprises.

7. Provide customers with information related to the purchase and sale of debts and assets performed by the Company at the request of the customer and in accordance with the Company's business secret rules.

8. Being under the State's supervision in the implementation of regulations on salary scales, payroll, and salary allowances; Salary, Remuneration and Bonus Funds; salary, remuneration and bonus regimes for employees, Chairman and members of the Members' Council, Supervisors, General Director, Deputy General Directors, Chief Accountant and other managers.

9. Being under the supervision of the agency representing the owner; comply with regulations on inspection and examination of financial agencies and competent State agencies as prescribed by law.

10. Perform other obligations as prescribed by law and assigned by the State.

View more details at the Decree No. 129/2020/NĐ-CP of Vietnam’s Government, effective from December 10, 2020.

Thuy Tram

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