12 sectors under planning and investment where persons with certain positions must not establish enterprises after being discharged in Vietnam

12 sectors under planning and investment where persons with certain positions must not establish enterprises after being discharged in Vietnam (Image from the internet)

On June 28, 2024, the Minister of Planning and Investment (Hanoi, Vietnam) issued Circular 12/2024/TT-BKHDT which stipulates the 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 Planning and Investment (Hanoi, Vietnam).

12 sectors under planning and investment where persons with certain positions must not establish enterprises after being discharged in Vietnam

Circular 12/2024/TT-BKHDT applies to persons with certain positions after resignation from offices in agencies, organizations, units in the state sector within the management scope of the Ministry of Planning and Investment and other related agencies, organizations, and individuals in anti-corruption.

The list of sectors where persons with certain positions are prohibited from establishing, holding positions, or managing private enterprises, limited liability companies, joint-stock companies, partnerships, cooperatives, cooperative unions in the sectors they were previously responsible for managing, includes:

(1) State management of outbound investment.

(2) State management of investment promotion.

(3) State management of project appraisal.

(4) State management of bidding.

(5) State management of planning, allocation, and management of capital plans.

(6) State management of planning.

(7) State management of industrial zones - export processing zones - economic zones.

(8) State management of enterprise development and business registration.

(9) State management of ODA, preferential loans, non-refundable aid not under official development assistance, and Vietnam’s aid to other countries.

(10) State management of cooperatives, cooperative unions, collective economy, and cooperative economy.

(11) State management of statistics.

(12) Programs, projects, and proposals that the incumbent directly researched, developed, appraised, and approved while holding official and public employee positions in the sectors mentioned above.

Periods over which persons with certain positions must not establish enterprises after being discharged in Vietnam

According to Article 6 of Circular 12/2024/TT-BKHDT, the 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 in Vietnam are stipulated as follows:

- Within 24 months from the date of resignation as determined by the competent authority, persons with certain positions in the sectors stipulated from item (1) to item (11) above are prohibited from establishing, holding positions, or managing private enterprises, limited liability companies, joint-stock companies, partnerships, cooperatives, cooperative unions in the sectors they were previously responsible for managing.

- The prohibition period for establishing, holding positions, or managing private enterprises, limited liability companies, joint-stock companies, partnerships, cooperatives, cooperative unions for those who resigned while directly researching, developing, appraising, or approving programs, projects, and proposals stipulated in item (12) above is the period of completing the program, project, or proposal.

Nguyen Ngoc Que Anh

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