Vietnam’s new regulation on owner’s representative agency

According to Decree No. 10/2019/NĐ-CP of Vietnam’s Government, depending on each specific case, the appropriate owner’s representative agency will be identified, specifically as follows:

1. The Committee for management of state capital at enterprises shall be the agency representing the owners of wholly state-owned enterprises and the state capital invested in enterprises in accordance with the Government’s regulations.

2. Ministries, Ministry-level agencies, Governmental bodies, People’s Committees of provinces and centrally-affiliated cities shall be the agency for owner’s representative to the followings:

- Wholly state-owned enterprises and state capital contribution portions invested in enterprises that are established under the decisions issued, or of which management is authorized, by ministries or provincial People's Committees, and that are not transferred to the Committee for management of state capital at enterprises and the State Capital Investment Corporation.

- Wholly state-owned enterprises and state capital contribution portions invested in enterprises that are transferred to the Committee for management of state capital at enterprises and the State Capital Investment Corporation during the period of pending transfer.

3. The State Capital Investment Corporation shall exercise the right of representation for the state owner at enterprises that are transferred from ministries or provincial People’s Committees.

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

- Thanh Lam -

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