Rights and responsibilities of owner’s representative agencies regarding management of staff working for state-owned enterprises in Vietnam from September 10, 2024

Rights and responsibilities of owner’s representative agencies regarding management of staff working for state-owned enterprises in Vietnam from September 10, 2024

The rights and responsibilities of owner’s representative agencies regarding management of staff working for state-owned enterprises in Vietnam from September 10, 2024, are as follows:

- Decide on planning, appointment, reappointment, resignation, dismissal, transfer, rotation, commendation, discipline, cessation of employment, and retirement for Controllers under the provisions of law.

- Based on the scale of the enterprise, the owner's representative agency determines the establishment of a Supervisory Board with 01 to 05 Controllers. In case the Supervisory Board has only 01 Controller, that Controller concurrently serves as the Head of the Supervisory Board and must meet the standards for the Head of the Supervisory Board.

- The owner's representative agency selects and appoints officials under its management as Controllers and is responsible for arranging suitable work for officials when they cease to be Controllers.

(Currently, the provisions on the rights and responsibilities of owner’s representative agencies towards controllers in state-owned enterprises are as follows:

- Decide on planning, appointment, reappointment, resignation, dismissal, transfer, rotation, commendation, discipline, cessation of employment, and retirement for Controllers under the provisions of law.

- Establish a Supervisory Board with a maximum of 05 Controllers in the parent company of state economic groups.

- Establish a Supervisory Board with 03 Controllers in the parent company of state corporations.

- Appoint 01 Controller or establish a Supervisory Board with 03 Controllers in other state-owned enterprises depending on the capital scale, geographical scope, and field of business of the state-owned enterprise which it has decided to establish or is assigned to manage.

- The owner's representative agency selects and appoints officials under its management as Controllers and is responsible for arranging suitable work for officials when they cease to be Controllers.)

More details can be found in Decree 97/2024/ND-CP,which comes into force in Vietnam from September 10, 2024.

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