Vietnam: Rights of the owner’s representative agencies for establishment of wholly state-owned enterprises

12:18, 12/02/2019

The Government of Vietnam issued Decree No. 10/2019/NĐ-CP on implementation of rights and responsibilities of state owner’s representatives, which replaced Decree No. 99/2012/NĐ-CP.

According to Decree No. 10/2019/NĐ-CP of Vietnam’s Government, the owner’s representative agency shall prepare application documentation for establishment of enterprises, enclosing the proposal for establishment of enterprises and other relevant documents prescribed by laws.

After receipt of the Prime Minister’s approval of the proposal for establishment of enterprises, the owner’s representative agencies shall implement the following rights and responsibilities:

- Make the decision on establishment of enterprises, except for cases under the decision-making authority of the Prime Minister.

- Submit the request documentation to same-level financial institutions for assessment for investment of capital and disbursement of funds to enterprises.

- Promulgate the charter, appoint the Chair and members of the Board of Members, and the Chair of the enterprise, except for cases under the authority of the Government and the Prime Minister.

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

- Thanh Lam -

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