Governance of beneficial ownership transparency to prevent self-dealing transactions in Vietnamese enterprises

Transparency of beneficial ownership information helps identify ultimate controlling persons, limit conflicts of interest, and prevent self-dealing transactions in enterprises. Although Vietnam’s 2022 Law on Anti-Money Laundering recognizes beneficial ownership, its connection with corporate law and regulations governing related-party transactions remains limited. Using legal analysis, comparative law, and document synthesis, this study evaluates current shortcomings and draws on relevant international standards and experience. The findings indicate that beneficial ownership transparency has not yet been fully integrated into corporate governance mechanisms for identifying controlling persons and monitoring transactions involving related parties. The study recommends improving disclosure and verification requirements, connecting beneficial ownership data with enterprise registration systems, clarifying access and reporting responsibilities, and strengthening the use of such information in controlling conflicts of interest and self-dealing transactions.