| THE GOVERNMENT ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ------------ |
| No: 38/2003/ND-CP | Hanoi, April 15, 2003 |
DECREE
ON TRANSFORMING A NUMBER OF FOREIGN-INVESTED ENTERPRISES TO OPERATE IN THE FORM OF JOINT-STOCK COMPANY
THE GOVERNMENT
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,
DECREES:
Chapter I
GENERAL PROVISIONS
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.
