Rights and obligations of enterprises providing public services/products

Article 9. Rights and obligations of enterprises providing public services/products

bookkeeping-vinasc31. The rights and obligations specified in Article 7, Article 8, and relevant regulations of this Law.

2. Get reimbursed for the costs in accordance with regulations of law on bidding, or collect service charges in accordance with regulations of competent authorities.

3. Provide products/services for a period of time sufficient to recoup investment and earn a reasonable amount of profit.

4. Provide products/services according to agreed quantity, quality, and time limits at the prices or charges decided by competent authorities.

5. Ensure equitability and equally convenience of customers.

6. Take legal responsibility for the quantity, quality, conditions, prices/charges of the products/services provided.

Article 10. Criteria, rights and obligations of social enterprises

1. Every social enterprise must satisfy the following criteria:

a) The enterprise is registered in accordance with this Law;

b) The enterprise’s objective is to resolve social, environmental problems, or to serve public interests;

c) At least 51% of annual profit is used for reinvestment in order to serve the social, environmental purposes as registered.

2. Apart from the rights and obligations of enterprises prescribed in this Law, social enterprises also have the following rights and obligations:

a) Maintain the objectives and conditions prescribed in Point b and Point c Clause 1 of this Article throughout the operation; any operating enterprise that wishes to convert into a social enterprise, and any social enterprise that wishes to stop operating as a social enterprise shall notify the competent authority to complete necessary procedures;

bookkeeping-vinasc1b) Owners and managers of social enterprises shall be enabled to obtain licenses and relevant certificates as prescribed by law.

c) Seek and receive sponsorships from other individuals, enterprises, non-governmental organizations, other Vietnamese and foreign organizations to cover administrative expense and operating costs of the enterprise;

d) Do not use the sponsorships for purposes other than covering administrative expense and operating costs or resolving social, environmental issues registered by the enterprise;

dd) Submit annual reports on the enterprise’s operation to the competent authority when receiving incentives or support.

3. The State shall introduce policies to encourage, support, and boosts the development of social enterprises.

4. The Government shall elaborate this Article.