On the morning of June 9, the National Assembly Standing Committee gave its opinion on the reception, explanation, and revision of the draft Law amending and supplementing a number of articles of the Law on Enterprises.
Previously, the draft stipulated that the subjects for establishing enterprises include civil servants working at public higher education institutions who are allowed to contribute capital, participate in managing and operating enterprises established by those educational institutions or participate in establishing them to commercialize research results created by those institutions.
At this meeting, Minister of Finance Nguyen Van Thang provided information on adding civil servants to participate in establishing and managing enterprises.
The Government has received the opinions of the Economic and Financial Committee and a number of delegates requesting a review to ensure the regulations on the subjects of establishment, capital contribution and business management in the Law on Enterprises are consistent with the Law on Science, Technology and Innovation and Resolution No. 193/2025/QH15.
Accordingly, the draft law has amended Point b, Clause 2 and Point b, Clause 3, Article 17 of the Law on Enterprises in the direction of stipulating subjects that are not allowed to establish, contribute capital and manage enterprises, including civil servants and public employees as prescribed by the Law on Cadres, Civil Servants and the Law on Public Employees.
This regulation is except for cases where it is implemented in accordance with the provisions of law on science, technology, innovation and national digital transformation.
Another content is the content of the regulation on issuing individual bonds of companies that are not public in the draft law.
Minister Nguyen Van Thang said that some delegates proposed to consider not stipulating in the draft law specific conditions for enterprises when issuing individual bonds; at the same time, considering regulations similar to the Securities Law in the direction of assigning the Government to specify this issue in detail.
Regarding this content, in Submission No. 286/TTr-CP and in the process of explaining the opinions of National Assembly deputies, the Government has clarified the necessity of stipulating this content in the draft law for 3 reasons.
Firstly, the addition of regulations on the conditions for the debt coefficient to be paid for enterprises issuing individual bonds (TPDN) aims to increase financial capacity for issuing enterprises, limiting the risks of corporate bond payment for both issuing enterprises and investors.
Second, the rate of no more than 5 times the equity capital is proposed on the basis of synthesizing and receiving opinions from ministries, branches, and market members during the process of the Ministry of Finance drafting a Decree amending and supplementing Decree No. 155/2020/ND-CP.
Third, the value of bonds expected to be issued not exceeding 05 times equity does not basically affect capital mobilization for production and business activities, serving economic growth goals.
Therefore, the Government proposes to keep the provisions in the draft Law. This option is consistent with the provisions of Clause 5, Article 129 of the Law on Enterprises 2020 when assigning the Government to specify in detail the types of bonds, records, order, procedures for issuing and trading individual bonds; publicly announce information; issue bonds to international markets and not assign the Government to guide the issuance conditions.
