Legal Counselling

Guidance on the splitting, division, consolidation and acquisition of enterprises in Vietnam

15:20, 12/02/2019

On January 30, 2019, the Government of Vietnam issued Decree No. 10/2019/NĐ-CP on implementation of rights and responsibilities of state owner’s representatives.

According to Decree No. 10/2019/NĐ-CP of Vietnam’s Government, the splitting, division, consolidation and acquisition of enterprises based on the general proposal for arrangement and reform of enterprises which has already been approved by the Prime Minister shall be carried out as follows:

- The owner’s representative agency shall make the decision on splitting, division, consolidation and acquisition of enterprises, except cases mentioned below.

- As for the acquisition of enterprises belonging to different owner's representative agencies, the representative agency of the owner of the acquirer enterprise shall issue the decision on corporate acquisition after receipt of the consenting opinion from the representative agency of the owner of the acquired enterprise.

- Authority to decide acquisition of enterprises under the control of different owner’s representative agencies shall be subject to the Government’s instructions.

- The owner’s representative agency shall appeal to the Prime Minister to decide the splitting, division, consolidation and acquisition of enterprises established under the Prime Minister’s decision.

View full text at Decree No. 10/2019/NĐ-CP of Vietnam’s Government, effective from March 15, 2019.

- Thanh Lam -

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