Ministry of Industry and Trade of Vietnam stipulates the period during which persons holding positions or authority are not allowed to establish enterprises

Term limits for individuals with positions of authority to establish enterprises in Vietnam

Circular 48/2023/TT-BCT stipulates the list of fields under the management scope of the Ministry of Industry and Trade and the term limits for individuals with such positions of authority after they cease to hold their titles or positions to establish, hold management positions, or operate private enterprises, limited liability companies, joint-stock companies, partnerships, and cooperatives.

List of fields under the management scope of the Ministry of Industry and Trade in which individuals with positions of authority, after ceasing those positions, are prohibited from establishing, holding management roles, or operating enterprises and cooperatives:

The fields in which individuals with positions of authority, after ceasing those positions, are prohibited from establishing, holding management roles, or operating enterprises and cooperatives include:

(1) Domestic Commerce.

(2) Import and Export.

(3) Trade Promotion.

(4) Industry.

(5) Energy.

(6) Chemicals.

(7) Competition and Consumer Protection.

(8) Market Management.

(9) Management of enterprises with more than 50% state-owned capital.

(10) Programs, projects, and schemes in the fields specified in Clauses 1, 2, 3, 4, 5, 6, 7, and 8 above.

Term limits for individuals with positions of authority in the listed fields under the management scope of the Ministry of Industry and Trade, after ceasing such positions, to not establish or manage enterprises and cooperatives:

- The term limit for not establishing, holding management roles, or operating enterprises and cooperatives for individuals who do not hold leadership positions in the fields listed in Clauses 1, 2, 3, 4, 5, 6, 7, 8, and 9 above is 12 months from the date of ceasing the position according to the decision of the competent authority.

- The term limit for not establishing, holding management roles, or operating enterprises and cooperatives for individuals who hold leadership positions in the fields listed in Clauses 1, 2, 3, 4, 5, 6, 7, 8, and 9 above is 24 months from the date of ceasing the position according to the decision of the competent authority.

- The term limit for not establishing, holding management roles, or operating enterprises and cooperatives for individuals who cease positions of authority in leading or participating in the research, construction, appraisal, or approval of Programs, projects, and schemes specified in Clause 10, Article 4 of Circular 48/2023/TT-BCT is determined according to the provisions at Point d, Clause 1, Article 23 of Decree 59/2019/ND-CP.

Circular 48/2023/TT-BCT takes effect from March 1, 2024.

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