Decree 47/2021/ND-CP guiding the Law on Enterprises of Vietnam 2020

Nguyen Trinh

17:33, 12/04/2021

Recently, the Government of Vietnam has issued Decree 47/2021/NĐ-CP detailing a number of articles of the Law on Enterprises of Vietnam 2020.

According to this Decree, the Government of Vietnam stipulates that the agency representing the owner shall establish a specialized unit or assign a task to a unit or individual belonging to the agency representing the owner to act as the focal point for monitoring, supervision, evaluation, synthesis and handling of tasks related to operation, management and policy regimes of the Supervisory Board and Supervisors.

Salaries, remuneration, bonuses, working conditions, working expenses norms and other operating expenses of the Supervisory Board and Supervisors shall be decided by the agency representing the owner, at least equal to the members of the Members' Council or Deputy General Director (Deputy General Director) at the enterprise; they shall be included in the business expenses of the enterprise and made into a separate item in the annual financial statements of the enterprise in Vietnam.

Supervisors are entitled to benefits, incentives and participation in social activities, unions of enterprises such as officers, employees and employees of enterprises.

In addition, the Decree also provides for the obligations of the Board of Supervisors, Supervisors at enterprises with 100% charter capital held by the State; Operation regulations of the Board of Supervisors, Supervisors in Vietnam.

For more details, see Decree 47/2021/ND-CP, effective from April 1, 2021.

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