10 fields in which office holders are prohibited from establishing enterprises after resigning in the Industry and Trade sector

10 fields in which office holders are prohibited from establishing enterprises after resigning in the Industry and Trade sector (Internet image)

On December 29, 2023, the Minister of Industry and Trade issued Circular 48/2023/TT-BCT on list of sectors and periods over which persons with certain positions and powers must not establish or hold managerial titles or positions in sole proprietorships, limited liability companies, joint-stock companies, partnerships and cooperatives after being discharged from holding their positions under management of the Ministry of Industry and Trade.

10 fields in which office holders are prohibited from establishing enterprises after resigning in the Industry and Trade sector in Vietnam

Fields in which office holders are prohibited from establishing, holding managerial or executive positions in sole proprietorship, limited liability companies, joint-stock companies, partnerships and cooperatives after resigning in the Industry and Trade sector in Vietnam include:

- Domestic trade.

- Import and export.

- Promotion.

- Industry.

- Energy.

- Chemistry.

- Competition and consumer protection.

- Market management.

- Managing enterprises in which the State holds more than 50% of charter capital.

- Programs, projects, and schemes in the fields specified above.

(Article 4 of Circular 48/2023/TT-BCT)

Periods over which office holders are prohibited from establishing enterprises after resigning in the Industry and Trade sector in Vietnam

Periods over which office holders are prohibited from establishing, holding managerial or executive positions in sole proprietorship, limited liability companies, joint-stock companies, partnerships and cooperatives after resigning in the above sector are (except for programs, projects, schemes) 12 months from the date of termination of position and authority according to the decision of the competent authority.

Periods over which office holders are prohibited from establishing, holding managerial or executive positions in sole proprietorship, limited liability companies, joint-stock companies, partnerships and cooperatives after resigning in the above sector (except for programs, projects, schemes) are 24 months from the date of termination of position and authority according to the decision of the competent authority.

Periods over which persons with certain positions and powers to preside over or participate in research, development, appraisal, and approval of programs, projects, and schemes specified above must not establish or hold managerial titles or positions in sole proprietorships, limited liability companies, joint-stock companies, partnerships, and cooperatives; the determination shall be made according to the provisions of Point d, Clause 1, Article 23 of Decree 59/2019/ND-CP.

(Article 5 of Circular 48/2023/TT-BCT)

Fields in which office holders are prohibited from establishing, holding managerial or executive positions in sole proprietorship, limited liability companies, joint-stock companies, partnerships and cooperatives after resigning

(1) Group 1 consists of fields under the management of the following ministries, departments and agencies:

- The Ministry of Industry and Trade;

- The Ministry of Transport;

- The Ministry of Planning and Investment;

- The Ministry of Labor—War Invalids and Social Affairs;

- The Ministry of Agriculture and Rural Development;

- The Ministry of Finance;

- The Ministry of Natural Resources and Environment;

- The Ministry of Information and Communications;

- The Ministry of Construction;

- The Ministry of Justice;

- The State bank of Vietnam;

- The Government Inspectorate;

- The Committee for managing State capital at enterprises;

- The Office of the Government.

(2) Group 2 consists of fields under the management of the following ministries, departments and agencies:

- The Ministry of Education and Training;

- The Ministry of Science and Technology;

- The Ministry of Culture, Sports and Tourism;

- The Ministry of Health;

- The Vietnam Social Security;

- The Committee for Ethnic Affairs.

(3) Group 3 consists of fields under the management of the following ministries, departments and agencies:

- The Ministry of Public Security;

- The Ministry of National Defense;

- The Ministry of Foreign Affairs.

(4) Group 4 consists of programmes, projects or proposals directly studied constructed or assessed, approved by former officials or public employees during their time in the positions.

(Article 22 of Decree 59/2019/ND-CP)

More details can be found in Circular 48/2023/TT-BCT effective from March 1, 2024.

Ho Quoc Tuan

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE