Can members of the Board of Members of state-owned enterprises concurrently hold the position of Director in Vietnam?

Can members of the Board of Members of state-owned enterprises concurrently hold the position of Director in Vietnam?

Pursuant to Article 93 of the Law on Enterprises 2020, requirements to be satisfied by members of the Board of Members are as follows:

To become a member of the Board of Members, a person shall satisfy the following requirements:

1. He/she is not one of the persons specified in Clause 2 Article 17 of this Law.

2. He/she has professional qualifications and experience of busines administration or experience of the company’s business lines.

3. He/she is not a relative of the head or deputies of the state ownership representative body; any of the members of the Board of members, the Director/General Director, the Deputy Director/General Director, the chief accountant or Controllers of the company.

4. He/she is not an executive of the member enterprise.

5. A member of the Board of Members other than the President may concurrently hold the position of Director/General Director of the company or another company that is not a member enterprise under a decision of the state ownership representative body.

6. He/she has never been discharged from the position of President of the Board of Members, member of Board of Members, the company’s President, Director/General Director, Deputy Director/General Director of a state-owned enterprise.

7. He/she satisfies other requirements specified in the company’s charter.

Thus, you can concurrently hold the position of Director of a state-owned enterprise in Vietnam of which you are a member of the Board of Members.

What are rights and obligations of members of the Board of Members of state-owned enterprises in Vietnam?

Pursuant to Article 96 of the Law on Enterprises 2020, the rights and obligations of members of the Board of Members of state-owned enterprises are as follows:

1. Participate in meetings of the Board of Members; discuss, propose, vote on the issues within the jurisdiction of the Board of Members;

2. Inspect, access, extract logbooks; monitor contracts, transactions, accounting books, financial statements, minutes of meetings of the Board of Members and other documents of the company;

3. Other rights and obligations prescribed by the company's charter, this Law and relevant laws.

Best Regards!