Periods over which persons with certain positions must not establish enterprises after being discharged under management of the Ministry of Planning and Investment of Vietnam

Periods over which persons with certain positions must not establish enterprises after being discharged under management of the Ministry of Planning and Investment of Vietnam

The periods over which persons with certain positions and powers must not establish or hold managerial titles or positions in sole proprietorships, limited liability companies, joint-stock companies, partnerships and cooperatives after being discharged from holding their positions in Vietnam is as follows:

- Within 24 months from the date of leaving the position or authority as per the decision of the competent authority, individuals with authority working in the following sectors as specified in provisions from Clause 1 to Clause 11, Article 5 of Circular 12/2024/TT-BKHDT are not allowed to establish, hold titles, or manage private enterprises, limited liability companies, joint-stock companies, partnerships, cooperatives, or cooperative unions in fields they previously managed:

+ State management of overseas investment.

+ State management of investment promotion.

+ State management of project evaluation.

+ State management of bidding.

+ State management of planning, allocation, and management of capital plans.

+ State management of zoning.

+ State management of industrial zones - export processing zones - economic zones.

+ State management of enterprise development and business registration.

+ State management of ODA, preferential loans, non-refundable aid not under the official development assistance, aid from Vietnam to other countries.

+ State management of cooperatives, cooperative unions, collective economy, cooperative economy.

+ State management of statistics.

- The term when individuals, who were officials and public employees directly involved in research, development, or evaluation and approval of Programs, projects, plans as specified in Clause 12, Article 5 of Circular 12/2024/TT-BKHDT, are not allowed to establish, hold titles, or manage private enterprises, limited liability companies, joint-stock companies, partnerships, cooperatives, or cooperative unions is until the complete implementation of programs, projects, and plans:

The programs, projects, and plans that individuals, while officials and public employees, were directly involved in researching, developing, or evaluating and approving, fall under the fields specified in Clauses 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 of Article 5 of Circular 12/2024/TT-BKHDT.

More details can be found in Circular 12/2024/TT-BKHDT which comes into force in Vietnam from August 16, 2024.

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