Only individuals are allowed to establish a private enterprise
Pursuant to Clause 1, Article 188 of the Law on Enterprises 2020, regulations on private enterprises are as follows:
A private enterprise is an enterprise owned by an individual who is solely responsible for all activities of the enterprise with their entire assets.
Thus, according to the above regulation, the nature of the entity establishing the enterprise is solely an individual, who bears full responsibility for the operations of the enterprise, without the participation of any other group of individuals or organizations.
Sincerely!
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