Corporate governance under the 2020 Law on Enterprises: Practical enforcement and solutions

In Vietnam, the promulgation of the Law on Companies in 1990 and the Law on Enterprises in 1999 (amended and supplemented in 2005, 2014, and 2020) have created favorable conditions for the establishment and operation of all business types including joint stock company. However, the enforcement of provisions on corporate governance in Vietnam under the 2020 Law on Enterprises is still facing difficulties. This study presents some legal issues about the business type of joint stock company and corporate governance, and the practical enforcement of provisions on corporate governance under the current Law on Enterprises. Based on the study’s findings, some solutions are proposed to strengthen the effectiveness of these provisions.