Form and time for information disclosure in state-owned enterprises when implementing democracy at the Ministry of Finance of Vietnam

Form and time for information disclosure in state-owned enterprises when implementing democracy at the Ministry of Finance of Vietnam (Image from Internet)

On October 15, 2024, the Minister of Finance of Vietnam issued Decision 2449/QD-BTC on the Regulations for Implementing Democracy in the Operations of the Ministry of Finance of Vietnam.

1. Form and time for information disclosure in state-owned enterprises when implementing democracy at the Ministry of Finance of Vietnam

According to the provisions in Article 28 of the Regulation issued with Decision 2449/QD-BTC in 2024, the form and time for information disclosure in state-owned enterprises when implementing democracy at the Ministry of Finance of Vietnam are as follows:

- The forms of information disclosure include:

+ Posting information publicly.

+ Announcements at labor conferences; at dialogue conferences between employers and the Trade Union Executive Board in enterprises, representatives of other workers' representative organizations at the establishment (if any); at meetings, briefings of units, and parts of the enterprise.

+ Written notices to all employees.

+ Through persons in charge of units, parts of the enterprise to inform employees.

+ Written notices to the Trade Union Executive Board in enterprises, representatives of other workers' representative organizations at the establishment (if any) to inform employees.

+ Announcements via the internal information system or posting on the business's electronic portal or website.

+ Via telecommunications networks, social networks operating legally according to the law and with the consent of the company's Trade Union Executive Board, representatives of other workers' representative organizations at the establishment (if any).

+ Other ways of transmitting information not violating the law and stipulated in the business's democracy implementation regulation.

- Information content prescribed in Article 27 of the Regulation issued with Decision 2449/QD-BTC in 2024 must be disclosed no later than 15 days from the date of the decision or document of the competent person on the content to be disclosed, unless otherwise provided by law.

2. Contents state-owned enterprises must disclose when implementing democracy at the Ministry of Finance of Vietnam

Except for information that is a state secret, business secret, or information not yet disclosed according to the law, state-owned enterprises must disclose the following contents internally:

- Production, business, or operational status of the enterprise according to the provisions of the Enterprise Law and other related laws.

- Labor regulations, wage scales, salary tables, labor norms, regulations, and other rules of the enterprise related to the rights, benefits, and obligations of employees.

- Collective labor agreements that the enterprise has signed or participated in.

- The setting aside and use of reward funds, welfare funds, and other funds contributed by employees (if any).

- Contribution of labor union expenses, social insurance, health insurance, unemployment insurance.

- Implementation status of emulation, rewards, discipline, and resolution of petitions and complaints related to the rights, benefits, and obligations of employees.

- Regulations on the implementation of democracy within the enterprise.

- Other matters concerning financial information, public asset management, personnel work following the law and the enterprise's democratic implementation regulation.

- Encouragement for state-owned enterprises to disclose information about ensuring business ethics, culture, and corporate social responsibility.

(According to Article 27 of the Regulation issued with Decision 2449/QD-BTC in 2024)

More details can be found in Decision 2449/QD-BTC which comes into force in Vietnam from October 15, 2024.

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