SECTORS THAT OFFICIALS AFTER BEING DISCHARGED MUST NOT ESTABLISH ENTERPRISES IN

Pursuant to Circular No. 60/2022/TT-BTC issued by the Ministry of Finance on October 03, 2022 and coming into effect on November 17, 2022:

– The Ministry of Finance issued Circular No. 60/2022/TT-BTC prescribing the list of sectors and periods for the officials with certain positions and powers must not establish, hold managerial titles or positions or administer sole proprietorships, limited liability companies, joint stock companies, partnerships, and cooperative in sectors under the management of the Ministry of Finance. These sectors were also previously under their management after being discharged from holding their positions. Accordingly, the Ministry stipulates 11 sectors as follows:

(i) State management of accounting and auditing;

(ii) State management of securities and securities market;

(iii) State management of insurance;

(iv) State management of customs;

(v) State management of prices;

(vi) State management of taxes, fees, charges, and other state budget revenues;

(vii) State management of cooperating finance and management of state capital in enterprises;

(viii) State management of the national reserve;

(ix) Management of borrowing, domestic and foreign debt repayment of the Government, public debt, the foreign debt of the country and international aid sources for Vietnam, loans and aid from Vietnam to foreign countries;

(x) State management of state budget;

(xi) State management of the public property.

– Periods prohibiting discharged officials from establishing, managing, administering enterprises, cooperatives are provided as follows:

(i) State budget and Public property management sectors: Within 12 months from the date on which the persons have been discharged from holding their positions under the decisions of the competent authorities;

(ii) Remaining sectors: Within 24 months from the date on which the persons have been discharged from holding their positions under the decisions of the competent authorities.

Best regard,