A vibrant discussion taking place at Organization 10
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On May 10th, during a lively discussion at Organization 10, which comprised of delegates from Thai Binh, Dak Nong, and Phu Yen provinces, a consensus emerged regarding the necessity to amend and supplement several articles of the Enterprise Law. The delegates also proposed expanding the scope of officials permitted to engage in business management and operations, particularly in the field of research and technology transfer.
The delegates concurred with the submission of the draft law amendment through an expedited procedure, asserting that the draft ensures compliance with the constitution, legality, and compatibility with international treaties to which Vietnam is a signatory.
Delegate Duong Khac Mai from Dak Nong brought up a new provision regarding the provision of information on beneficial owners to the National Business Registration Portal for state agencies with competent authority to prevent money laundering. However, he suggested amending the phrase to “in case of legal violations.”
“Apart from preventing money laundering, there are other cases such as fraud, bribery, and terrorist financing that necessitate access to this information,” Mr. Mai emphasized.
 Delegate Duong Khac Mai from Dak Nong Province
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Regarding the expansion of the scope of officials allowed to participate in business management, the draft law proposes a provision permitting officials from public universities to establish or manage businesses created by the unit to commercialize research results. This move is a step towards institutionalizing Resolution 57-NQ/TW of the Politburo on developing science, technology, innovation, and national digital transformation.
However, Delegate Duong Khac Mai argued that merely liberating public universities is insufficient, as “in reality, there are numerous efficient public research institutes and educational institutions”. He suggested expanding the scope to “transform institutional regulations into competitive advantages in the development of science and innovation.”
Delegate Nguyen Thi Thu Dung from Thai Binh also emphasized the need for vocational educational institutions to be involved in establishing businesses. She explained that scientific research and innovation are not limited to specific types of education, and these institutions are in the process of autonomy, requiring a flexible mechanism to generate income from commercializing research results.
Delegate Nguyen Thi Thu Dung from Thai Binh Province
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In this spirit, she proposed amending the draft law’s regulation in point b, clause 2, Article 17, as follows: “Officials, civil servants, and public employees – excluding those from public universities and vocational educational institutions – are permitted to participate in the management and operation of businesses established by these entities to commercialize research results.”
Additionally, Ms. Dung noted the necessity for stringent conditions: for employees, the consent of the head of the unit is required, and for heads of units, the approval of the direct management level is necessary.
Delegate Le Dao An Xuan from Phu Yen provided feedback on the concepts of “beneficial owner” and “individual with controlling power over the enterprise.” She suggested that these criteria should be quantified, such as by specifying the authority over financial decisions, key personnel, or strategic activities. “This transparent regulation is crucial for preventing money laundering and aligning with international practices”, Ms. Xuan emphasized.
From a legal perspective, she also recommended using the unified concept of “cessation of existence” instead of “cessation of operations” to avoid misunderstandings when enterprises, especially FDI enterprises, cease project operations but still retain their legal entity status.
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