Information to be disclosed by state enterprises in Vietnam

Information to be disclosed by state enterprises in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Information to be disclosed by state enterprises in Vietnam

Information to be disclosed by state enterprises under Article 64 of the Law on Implementation of Grassroots-level Democracy 2022 is as follows:

- Except data or information classified as state secrets, trade secrets or those of which disclosure is prohibited in accordance with law, state enterprises shall internally disclose the following information:

+ State of production and business or operation of enterprises prescribed by law on enterprises and other relevant laws;

+ Labor rules, pay scale, table, labor norms, internal rules, regulations and other regulations related to the rights, obligations and responsibilities of all employees;

+ Collective bargaining agreements of which an enterprise is a signatory or member;

+ Establishment and use of the reward fund, welfare fund and other funds to which contributions are made by the employees (if any);

+ Setting-aside of funds for payment of trade union dues, social insurance, health insurance and unemployment insurance contributions;

+ Performance related to implementation of such activities as emulation, commendation, disciplining, settlement of complaints and denunciations related to rights, obligations and interests of the employees;

+ Regulations on implementation of democracy of an enterprise;

+ Other information about finance, management of public assets and personnel under law and regulations on implementation of democracy at an enterprise.

- State enterprises shall be encouraged to disclose information about observance of business ethics, culture and implementation of corporate social responsibility.

2 Methods and time of disclosure of information in Vietnam

Methods and time of disclosure of information in Vietnam according to Article 65 of the Law on Implementation of Grassroots-level Democracy 2022 are as follows:

- Information shall be disclosed in the following forms:

+ By public posting;

+ By the notification issued at the staff meeting; at the dialogue between the employer and the Executive Committee of Trade Union at the enterprise, the representation boards of other representation organizations (if any) of employees at the enterprise; at meetings between units and departments of the enterprise;

+ By the written notice sent to all of staff members;

+ By the notice sent to employees through heads of units and departments of the enterprise playing their conduit roles;

+ By the written notice sent to employees through the Executive Committee of Trade Union of the enterprise, representation boards of other employee representation organizations (if any) at the enterprise;

+ Through the notice posted on the internal information system or on the web portal or website of the enterprise;

+ Through telecommunication networks or social networks legally operated under laws, and with approval from the Executive Committee of Trade Union of the enterprise, representation boards of other employee representation organizations (if any) at the enterprise;

+ By other method of communication of information that is not in contravention of laws and is prescribed in regulations of implementation of democracy at the enterprise.

- The information specified in Article 64 herein shall be disclosed within 15 working days of receipt of decisions or written documents of competent authorities relating to the information to be disclosed, unless otherwise prescribed in law.

3. Responsibilities for conducting disclosure of information at state enterprises in Vietnam

Responsibilities for conducting disclosure of information at state enterprises according to Article 66 of the Law on Implementation of Grassroots-level Democracy 2022 are as follows:

- Where state enterprises subject to disclosure requirements have their own websites or electronic information systems, the heads of these enterprises shall be responsible for posting the information specified in Article 64 of the Law on Implementation of Grassroots-level Democracy 2022 on these platforms for at least 20 consecutive days from the date of commencement of posting or delivery of information, unless otherwise provided for by law.

- If the aforesaid website or electronic information system is not available, the duly authorized representative of the enterprise shall be responsible for posting the information specified in Article 64 of the Law on Implementation of Grassroots-level Democracy 2022 at the enterprise’s main office or the workplaces of directly related departments or units for at least 20 consecutive days from the date of commencement of posting, except in case of using the form of written notification to all employees of the enterprise, or unless otherwise defined by law.

- In addition to disclosure of information in the forms specified in clause 1 and 2 of Article 66 of the Law on Implementation of Grassroots-level Democracy 2022, based on the characteristics and nature of activities and the matters to be disclosed, the duly authorized representative of the state enterprise may decide on other form of disclosure specified in clause 1 of Article 65 of the Law on Implementation of Grassroots-level Democracy 2022 provided that this form of disclosure fits well into the actual condition of each enterprise with a view to ensuring that employees can have access to disclosed information in an accurate, adequate, timely and easy manner.

- Authorized representative of an enterprise shall be responsible for conducting, at the request of employees, the provision of the information that has not been disclosed within the time limit for disclosure; the information of which time limit for disclosure has expired; or the information that is being made public but, due to force majeure, the requester cannot access.

- State enterprises subject to disclosure requirements may further determine the information to be disclosed, the form of disclosure, the application of the forms of disclosure for each certain type of information in question, the method of implementation, the provision of information as required in the regulations on implementation of democracy according to the characteristics of organization, operation and actual conditions of the enterprises, and without breach of the provisions of this Section.

 Where there is any other regulation on the form and method of public disclosure of specific types of information, such other regulation shall govern.

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