Improving Company Law in Vietnam: Practice and Needs for Change

Abstract

The history of laws regulating types of companies in Vietnam was born later than in other countries, only when Vietnam implemented the “DOI MOI” (renewal) process according to the market economy in 1986. The laws have been supplemented over time to promote and encourage investors to contribute capital to establish various business organisations. However, increasingly diverse and rich economic relations pose urgent needs for the law, on the one hand, to recognise and expand the freedom of business of its subjects, and on the other hand, to anticipate, recog-nise, and protect new associations that create unregulated types of business enti-ties. Only then can the law regulating types of companies in Vietnam establish a legal basis to promote deep integration into current international economic activities. This article analyses, evaluates, and recommends theoretical and practical issues on the laws regulating the types of companies in Vietnam.