Draft resolution on specific mechanisms and policies to support private enterprise development has been released by the Ministry of Justice.
10 Principles for Handling Violations
The proposed resolution is expected to apply to enterprises, businesses, individual entrepreneurs, and other relevant organizations and individuals.
The Ministry of Finance (the drafting agency) proposes 10 principles for handling violations and resolving business cases:
First, clearly define the difference between criminal liability, administrative liability, and civil liability; between administrative liability and civil liability; and between the liability of legal entities and the liability of individuals.
Second, for civil and economic violations, prioritize applying civil, economic, and administrative measures first. Businesses, entrepreneurs, and individual entrepreneurs should proactively rectify violations and compensate for damages.
Third, in cases where applying the law could result in criminal charges or no criminal charges, no criminal charges should be applied.
Fourth, for violations that require criminal charges, prioritize economic remedies first, and use them as a key factor in considering further corrective actions.
Fifth, do not retroactively apply legal provisions to disadvantage businesses, entrepreneurs, and individual entrepreneurs.
Sixth, for cases lacking or unclear evidence, conclusions should be reached and publicly announced promptly.
Seventh, ensure the principle of presumption of innocence during the investigation, prosecution, and trial of cases.
Eighth, ensure that the sealing, attachment, and temporary seizure of assets related to cases are conducted according to jurisdiction, procedure, and scope, without infringing on the legitimate rights and interests of individuals or organizations; ensure that the value of the seal, attachment, and temporary seizure corresponds to the projected damage in the case.
Ninth, clearly distinguish between legally acquired assets and assets/income derived from illegal activities, and other assets related to the case; distinguish between the assets, rights, and obligations of the enterprise and the assets, rights, and obligations of individual managers of the enterprise in handling violations and resolving cases.
Tenth, use appropriate measures to safeguard the value of assets related to the case, minimize the impact of investigations on production and business operations, after agreement from judicial authorities, without affecting the investigation.
Regarding the principles of inspections, the draft resolution states: Inspections should not be conducted more than once a year for each business, entrepreneur, or individual entrepreneur, unless there is clear evidence of violation.
“Strictly address the abuse of inspections to harass and hinder businesses,” the draft states.
The draft resolution proposes to expand the circumstances and criteria for courts to consider expedited bankruptcy proceedings for companies. This should minimize the time, conditions, procedures, and steps for resolution by at least 30% compared to the normal procedure.
Training 10,000 executives by 2030
The draft resolution proposes specific policies to support access to land and premises for production and business in industrial parks and clusters; support for leasing public property; financial and credit support; tax and fee support; research, development, and application of science, technology, innovation, and digital transformation…
Local governments can use local budgets to support investors in developing industrial park and cluster infrastructure, technology incubators, so that these investors must lease land to high-tech businesses, small and medium-sized enterprises, and start-ups in the private sector when needed.
Private sector enterprises, entrepreneurs, and individual entrepreneurs will receive a 2% annual interest rate when borrowing to implement green, circular projects and apply environmental, social, and governance (ESG) standards.
“Abolish the quota tax payment method for entrepreneurs and individual entrepreneurs from July 1, 2026. Entrepreneurs and individual entrepreneurs will apply the tax declaration and calculation method according to tax administration law. Abolish the business license fee as stipulated in section 3.III, part B of the Fee and Charge List accompanying Appendix No. 01 (List of fees and charges) of the Fee and Charge Law No. 97/2015, effective January 1, 2026,” the draft states.
Importantly, according to the draft, government-funded tenders with a value not exceeding VND 20 billion will be reserved for small and medium-sized enterprises, prioritizing those owned by youth, women, ethnic minority people, vulnerable groups, people with disabilities, and those in mountainous, border, and island areas.
“Allocate state budget funds to implement the training program for 10,000 executives by 2030. Provide free legal advice, training on business management, accounting, taxes, human resources, and law to small, micro enterprises, entrepreneurs, and individual entrepreneurs,” the draft states.
In addition, the draft also proposes many specific policies to support the formation and development of medium and large enterprises, regional and global-scale private sector conglomerates.
Due to the urgent needs of the country, the draft resolution is developed with expedited procedures. The Ministry of Finance recommends that the Government submit the draft resolution to the National Assembly for review and approval at the 9th session of the 15th National Assembly in May.
Resolution 68-NQ/TW dated May 4, 2023, of the Politburo, on the development of private enterprise, recognized that the private sector is the most important driving force of the national economy, a pioneering force in driving growth, industrialization, modernization, and economic restructuring toward a green, circular, and sustainable direction…
Resolution 68 tasks the Government Party Committee with directing the development and submission to the National Assembly for enactment of special, exceptional mechanisms and policies during the 9th session of the 15th National Assembly in May.
