The National Assembly (NA) on December 10 passed a law amending and supplementing certain articles of the Law on Anti-Corruption, expanding the scope of individuals required to declare assets and income within State-owned enterprises.
The Law will take effect on July 1, 2026.
During the discussion process, many NA deputies supported expanding the scope of declaration from enterprises with 100% State capital to those where the State holds more than 50% of the charter capital.
However, some delegates requested clarification regarding the feasibility of the regulations and the specific subjects required to declare, particularly in cases involving foreign participation in management. The Government subsequently submitted a report explaining, absorbing feedback, and revising the draft law.
According to the Government's report, mandating that individuals assigned to manage and operate a State-owned enterprise which holds more than 50% of its charter capital declare their assets and income is appropriate. This aligns with current anti-corruption requirements and ensures consistency with the Law on Enterprises and the Law on Management and Use of State Capital Invested in Production and Business at Enterprises.
Based on this regulation, the Government will specify that those required to declare assets and income at State-owned enterprises include direct ownership representatives, representatives of State capital, and certain titles and positions within the enterprise. Crucially, this requirement excludes foreign nationals or individuals from the non-state sector.
Notably, the Government has absorbed feedback and provided explanations regarding regulations on "asset values and income levels requiring declaration and supplementary declaration."
Specifically, the threshold for declaration has been raised from VND50 million (nearly $1,900) to VND150 million (nearly $5,700), while the threshold for supplementary assets and income fluctuations within the year has increased from VND300 million (nearly $11,400) to VND1 billion (nearly $38,000).
According to the Government, these adjustments are based on two factors. First, there have been three salary increases since 2018. Second, socio-economic conditions have developed nearly threefold, with market prices, in particular, seeing significant increases compared to 2018.
Regarding "digital assets," as current laws lack comprehensive regulations, they have not yet been included in the draft law.
The Government has assigned the Government Inspectorate to coordinate with the Ministry of Finance and relevant agencies to continue researching and proposing regulations once sufficient legal grounds are established and during the comprehensive amendment of the Law on Anti-Corruption.
Google translate