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Decrees guiding implementation of Law on Enterprises

 VietNamNet Bridge – The Government has issued four decrees guiding the implementation of the Law on Enterprises which was revised and passed in 2014.

VietNamNet Bridge – The Government has issued four decrees guiding the implementation of the Law on Enterprises which was revised and passed in 2014.

The new legal documents are: Decree No. 78/2015/ND-CP dated September 14, 2015 on business registration; Decree No. 81/2015/ND-CP dated September 18, 2015 on information disclosure of State owned enterprises, Decree 93/2015/ND-CP dated October 15/10/2015 on management and operation of enterprises in national defense and security, and Decree No. 96/2015/ND-CP dated October 19, 2015 on detailed implementation of some articles of the 2014 Law on Enterprises.

The 2014 Law on Enterprises, which took effect since July 1, 2015, is widely seen as a significant step forward in the company legislation.

Under the law, time required for granting business registration certificate shall be reduced to three working days from the current five working days since the reception of valid dossiers.

The business registration certificate only displays four categories of information: Business name code, main address of business, detailed information of individuals who are legal representatives of the company, and charter capital.

Points that are receiving special attention such as the abolition of business lines in business registration certificate, the skipping of the legal capital determination, practicing certificates. This was the realization of the freedom of doing all business sectors not prohibited by law under the provisions of the Constitution.

The 2014 Law on Enterprises also allows companies to merge to form a new entity with an aim to boost the M&A market in Viet Nam.



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