State assurance about enterprises and owners of enterprises

Article 5. State assurance about enterprises and owners of enterprises

Set-up-company-in-vietnam-Vinasc21. The State recognizes the continued existence and development of types of business entities defined in this Law; ensures the legal equality of enterprises regardless of their forms and economic sectors; and acknowledges the legitimate profitability of business.

2. The State recognizes and protects the ownership of assets, capital, income, other lawful rights and interests of enterprises and owners of enterprises.

3. Legitimate assets and capital of enterprises and enterprise owners shall not be nationalized and shall not be administratively confiscated.

The State shall purchase or requisition enterprises’ assets for reasons of National defense and security, national interests, state of emergency, natural disaster response, and pay enterprises according to market prices at such times. The payment or compensation must ensure enterprises’ interests without discrimination between types of business entities.

Article 6. Political organizations and socio-political organizations within enterprises

1. Political organizations and socio-political organizations within enterprises shall operate in accordance with Constitution, law, and the organization’s charter.

2. Enterprises must not obstruct the establishment of intramural political organizations or socio-political organizations and must not obstruct employees to participate in such organizations.

Article 7. Rights of enterprises

1. Engage in the business lines that are not prohibited by law.

Set-up-company-in-vietnam-Vinasc12. Exercise business autonomy; decide on organizational structure, business lines, and location; change the scale and business lines.

3. Decide on the method of raising and using capital.

4. Find markets, customers, and sign contracts proactively.

5. Engage in export and import.

6. Hire employees to serve the business.

7. Apply science and technologies to improve business efficiency and competitiveness.

8. Own, use, and dispose of assets of the enterprise.

9. Refuse to provide resources against the law.

10. Lodge complaints and denunciations in accordance with regulations of law on complaints and denunciations.

11. Participating in proceedings in accordance with laws.

12. Other rights prescribed by relevant laws.