State assurance about enterprises and owners of enterprises

Article 5. State assurance about enterprises and owners of enterprises

bookkeeping-vinasc31. 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.

2. 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.

Article 8. Obligations of enterprises

1. Satisfy the conditions when engaging in the business lines subject to business conditions as prescribed by the Law on Investment; maintain the fulfillment of such conditions throughout the business operation.

bookkeeping-vinasc12. Do accounting, make and submit truthful financial statements in a timely manner according to regulations of law on accounting and statistics.

3. Declare, pay taxes and fulfill other financial obligation as prescribed by law.

4. Ensure the lawful rights and interests of employees according to regulations of law on employment; do not show discriminatory behaviors or insult employees in the enterprise; do not employ children and forced labour; provide support for and enable employees to have professional training; buy social insurance, unemployment insurance, health insurance, and other types of insurance for employees.

5. Ensure and take responsibility for quality of goods/services according to standards prescribed by law or registered/announced standards.

6. Fulfill obligations pertaining to business registration, changes of business registration information, disclosure of information about the enterprise establishment and operation, and other obligations prescribed in this Law and relevant laws.

7. Take responsibility for the truthfulness and accuracy of information in the application for business registration and reports; rectify incorrect information.

8. Comply with regulations of law on national defense and security, social order and safety, gender equality, protection of natural resources, the environment, historic sites and natural monuments.

9. Exercise the obligations pertaining to business ethics to protect the lawful rights and interests of customers and consumers.