What are the procedures for establishment of wholly state owned enterprises in Vietnam?
- What are the procedures for establishment of wholly state owned enterprises established under the Prime Minister’s decision?
- What are the procedures for establishment of wholly state owned enterprises established under decision of owner’s representative agencies?
- After the wholly state owned enterprise establishment decision has been issued, is it necessary to carry out enterprise registration?
What are the procedures for establishment of wholly state owned enterprises established under the Prime Minister’s decision?
Pursuant to Article 9 of Decree 23/2022/ND-CP of Vietnam stipulating the procedures for establishment of enterprises established under the Prime Minister’s decision as follows:
- The owner’s representative agency shall prepare 07 sets of application for enterprise establishment which includes original documents as prescribed in Clause 1 Article 6 of this Decree, and send them to the Ministry of Planning and Investment for appraisal.
- Upon receipt of adequate application, the Ministry of Planning and Investment shall play the leading role in collecting opinions from the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Justice, the Ministry of Labor, War Invalids and Social Affairs, the supervisory ministry, the People's Committee of province or city where the enterprise will be headquartered, and relevant authorities and organizations (where necessary).
Within 15 working days from the receipt of the application, relevant authorities shall provide their written opinions about issues under their management to the Ministry of Planning and Investment for consolidating and issuing an appraisal report.
- Within 10 working days from the receipt of opinions from relevant authorities, the Ministry of Planning and Investment shall submit the appraisal report to the Prime Minister and also send it to the owner’s representative agency for knowing or providing explanations.
If different opinions are given about the same content of the application, the Ministry of Planning and Investment shall hold a meeting with relevant authorities before submitting the appraisal report to the Prime Minister. The time limit for submitting the appraisal report may be extended for a period not exceeding 10 working days.
- The owner’s representative agency shall explain about appraisal conclusions drawn by the Ministry of Planning and Investment, complete and submit the application to the Prime Minister for deciding the enterprise establishment.
What are the procedures for establishment of wholly state owned enterprises in Vietnam?
What are the procedures for establishment of wholly state owned enterprises established under decision of owner’s representative agencies?
Pursuant to Article 10 of Decree 23/2022/ND-CP of Vietnam stipulating the procedures for establishment of enterprises established under decision of owner’s representative agencies as follows:
- The owner’s representative agency shall prepare 03 sets of application for enterprise establishment which includes original documents as prescribed in Clause 2 Article 6 of this Decree, and send them to the Ministry of Planning and Investment for appraisal.
- Upon receipt of adequate application, the Ministry of Planning and Investment shall play the leading role in collecting opinions from the Ministry of Finance, supervisory ministry (in case an enterprise is established under decision of a Provincial People's Committee, ministerial agency or Governmental agency) or the People's Committee of province or city where the enterprise will be headquartered, and relevant authorities and organizations (in case an enterprise is established under decision of a Ministry, ministerial agency or Governmental agency).
Within 10 working days from the receipt of the application, relevant authorities shall provide their written opinions about issues under their management to the Ministry of Planning and Investment for consolidating and issuing an appraisal report.
- Within 10 working days from the receipt of opinions from relevant authorities, the Ministry of Planning and Investment shall prepare and submit the appraisal report to the owner’s representative agency.
- The owner’s representative agency shall explain about appraisal conclusions drawn by the Ministry of Planning and Investment, complete and submit the application to the Prime Minister for approving the enterprise establishment policies.
- The owner’s representative agency shall issue an enterprise establishment decision within 30 working days from the day on which the Prime Minister gives approval for establishment policies.
After the wholly state owned enterprise establishment decision has been issued, is it necessary to carry out enterprise registration?
Pursuant to Article 12 of Decree 23/2022/ND-CP of Vietnam stipulating as follows:
Enterprise registration and time of starting business
1. After the enterprise establishment decision has been issued, the owner’s representative agency shall prepare an application for investment of state capital in the establishment of the enterprise in accordance with the Government’s regulations.
2. Enterprises shall follow procedures for enterprise registration in accordance with regulations of law and are entitled to start their business from the issue date of the enterprise registration certificate. With respect to conditional business lines, enterprises are entitled to engage in such business lines from the day on which the enterprise obtains permission from competent authorities or on which all business conditions have been satisfied by the enterprise as prescribed.
Thus, after the enterprise establishment decision has been issued, the owner’s representative agency shall prepare an application for investment of state capital in establishment of enterprise in accordance with the Government’s regulations.
Enterprises shall follow procedures for enterprise registration in accordance with regulations of law and are entitled to start their business from the issue date of the enterprise registration certificate.
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