SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, April 15, 2003
ON TRANSFORMING A NUMBER OF FOREIGN-INVESTED ENTERPRISES TO OPERATE IN THE FORM OF JOINT-STOCK COMPANY
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the June 12, 1999 Enterprise Law;
Pursuant to the November 12, 1996 Law on Foreign Investment in Vietnam and the June 9, 2000 Law Amending and Supplementing a Number of Articles of the Law on Foreign Investment in Vietnam;
Proceeding from the opinions of the National Assembly Standing Committee in Document No. 08/UBTVQH of January 13, 2003 on the promulgation of the Government’s decree on transforming a number of foreign-invested enterprises to operate in the form of joint-stock company;
At the proposal of the Minister of Planning and Investment,
Article 1.- Scope of application
This Decree provides for the transformation of a number of foreign-invested enterprises operating under the Law on Foreign Investment in Vietnam into foreign-invested joint-stock companies.
Foreign-invested joint-stock companies shall operate under the provisions of this Decree and relevant legislation.
Article 2.- Objectives of transformation
The transformation of a number of foreign-invested enterprises to operate in the form of joint-stock company aims to:
1. Raise the operational efficiency of foreign-invested enterprises.
2. Mobilize capital of investors at home and abroad to invest in technological renovation, job creation and enterprise development.
Click Download to see full text