Two cases of non-investment by the State Capital Investment Corporation (SCIC)

Duy Thinh

11:44, 11/07/2024

the Government of Vietnam has just issued Decree 147/2017/ND-CP to amend and supplement a number of Articles of Decree 151/2015/ND-CP on the functions, tasks, and operational mechanisms of the State Capital Investment Corporation (SCIC).

One of the new points in Decree 147 is the regulation on cases where SCIC Corporation is not allowed to invest, including the following two cases:

- Contributing capital with a subsidiary to establish a joint-stock company, a limited liability company, or to perform a business cooperation contract;- Investing, contributing capital, purchasing shares, or acquiring another enterprise where the manager or representative at that enterprise is a relative such as a spouse, biological father, biological mother, or biological siblings of the Chairman and members of the Board of Members, Controllers, General Director, Deputy General Directors, or Chief Accountant of the Corporation.

For more details, refer to Decree 147/2017/ND-CP effective from December 25, 2017.

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