Vietnam: Increasing the term of office of controllers at State-owned enterprises

Nguyen Trinh

11:05, 11/01/2021

Recently, the Government of Vietnam issued the Decree No. 159/2020/NĐ-CP on management of titleholders, officeholders and representatives of State ownership interests in enterprises.

According to the Decree No. 159/2020/NĐ-CP of the Vietnam’s Government, the term of office in each tenure of an appointed state enterprise executive or comptroller is 5 years (an increase of 2 years compared to previous provision of the Decree No. 97/2015/ND-CP) from the effective date of the appointment decision. In case of less than 05 years’ term of office, the decision of the relevant competent authority must be observed.

In case where a state enterprise executive or comptroller is seconded, transferred or appointed to hold the new office at least equivalent to the previous one, the term of office shall begin from the effective date of the transfer, secondment or appointment decision.

In case where any change in the managerial title occurs due to any change of the enterprise's name, the term of office shall start from the effective date of the decision on appointment to the title called the same as the one existing before such change.

More details at the Decree No. 159/2020/NĐ-CP of the Vietnam’s Government, effective from December 31, 2020.

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