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Vietnam Enforces Ban on Civil Servants’ Involvement in Business Activities
(MENAFN) The National Assembly of Vietnam has approved critical changes to the Law on Enterprises, enforcing a strict ban on civil servants and public employees from setting up, investing in, or running businesses, a local news agency reveals.
The newly revised law carves out narrow exceptions, allowing involvement only under specific legal frameworks tied to science, technology, innovation, and the nation’s digital transformation initiatives.
Previously, the 2020 Law on Enterprises permitted public officials to invest capital in businesses but barred them from founding or managing them.
These amendments are slated to come into force on July 1, 2025, marking a significant shift in Vietnam’s approach to public sector participation in private enterprise.
The newly revised law carves out narrow exceptions, allowing involvement only under specific legal frameworks tied to science, technology, innovation, and the nation’s digital transformation initiatives.
Previously, the 2020 Law on Enterprises permitted public officials to invest capital in businesses but barred them from founding or managing them.
These amendments are slated to come into force on July 1, 2025, marking a significant shift in Vietnam’s approach to public sector participation in private enterprise.
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