Principles for implementing the program to support private sector enterprises for sustainable business in the period 2022–2025 in Vietnam

Principles for implementing the program to support private sector enterprises for sustainable business in the period 2022–2025 in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

On December 12, 2023, the Minister of Planning and Investment issued Circular 13/2023/TT-BKHDT guiding the mechanism for organizing the implementation of the "Program to support private sector enterprises with sustainable business for the period 2022-2025" attached to Decision 167/QD-TTg in 2022.

1. Principles for implementing the program to support private sector enterprises for sustainable business in the period 2022–2025

Article 3 of Circular 13/2023/TT-BKHDT clearly states the implementation principles as follows:

- Principles for evaluating and using the results of assessing the level of application of sustainable business models in enterprises:

+ Assessing the level of application of sustainable business models in enterprises is based on voluntary principles;

+ Organizations promoting sustainable business development using the toolkit posted on the Business Information Portal at http://business.gov.vn or research and develop their own toolkit to meet the regulations in Section 2 to evaluate and support sustainable businesses. Enterprises assessed to achieve 50% or more of the total score of the toolkit are supported by the contents as prescribed in Articles 13 and 14 of Circular 13/2023/TT-BKHDT.

- Based on the ability to balance resources and prioritize support during the year, organizations promoting sustainable business development support sustainable business enterprises according to the following principles:

+ Sustainable businesses that register their needs first will receive support first;

+ Sustainable business enterprises owned by women, sustainable business enterprises that employ many female workers, and sustainable business enterprises that are social enterprises according to the provisions of the law are supported in advance.

- The implementation of support activities from the state budget is carried out in accordance with the provisions of this Circular and the Circular of the Ministry of Finance guiding the management mechanism and using state budget funds to implement Program 167 (hereinafter referred to as the Circular of the Ministry of Finance guiding Program 167).

- The implementation of support activities from contributed and sponsored funds is carried out according to the agreement with the sponsor, the party contributing the funds (in case of agreement), or according to the organization's regulations. promote sustainable business development (in case there is no agreement).

Implementation mechanism (process, procedures, content and implementation costs, responsibilities of relevant parties); and management and use of contributed and sponsored funds must ensure compliance with Vietnamese law.

2. Sustainable business model assessment toolkit in Vietnam

Article 4 of Circular 13/2023/TT-BKHDT stipulates a toolkit for assessing sustainable business models as follows:

- The sustainable business model assessment toolkit includes groups of criteria specified for each sustainable business model specified in Articles 5, 6, and 7 of Circular 13/2023/TT-BKHDT. The toolkit includes criteria that are quantified on a scale, weighted, and have specific evaluation methods that are consistent with reality and do not violate the provisions of Vietnamese law and relevant international treaties to which Vietnam is a member.

- Toolkit developed by ministries, central agencies, provincial People's Committees, and organizations promoting sustainable business development specified in Points b and c of Clause 6 of Article 2 of Circular 13/2023/TT-BKHDT shall be considered and promulgated depending on practical requirements and in accordance with functions and tasks.

Before being issued, the Toolkit needs to be consulted with relevant agencies, reviewed to ensure compliance with current legal regulations, and published on the website of the issuing unit before implementing and applying business assessment in practice.

More details can be found in Circular 13/2023/TT-BKHDT, taking effect on January 27, 2024.

Nguyen Ngoc Que Anh

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