New legal regulations of Vietnam Enterprise Law 2020

Abstract

Vietnam Enterprise Law No.68/2014/QH13 was prornulgated by National Assemlbly on November 26, 2014. After several years of implementation, besides the positive aspects achieved, the Enterprise Law has revealed rnany limitations, creating a burden of cost and time for enterprises to comply. Thus, the new enterprise law was approved by the 14th National Assembly on June 17, 2020 to replace the 2014 Enteiprise Law and took effect from January 1,2021. This article will analyze significant new points of the Enterprise Law No.59/2020 compared to Enterprise Law 2014 with explanations for these changes.