The Government has just issued Decree No. 89/2024/ND-CP on converting state-owned companies established and operating under the Law on State-owned Enterprises into successful [...]
The Government has just issued Decree No. 89/2024/ND-CP on converting state-owned companies established and operating under the Law on State-owned Enterprises into single-member limited liability companies organized and operating under the provisions of the Law on Enterprises.
According to the Decree, the subjects of application are enterprises established and operating under the provisions of the Law on State-owned Enterprises that have not been converted into one-member limited liability companies, including:
– Enterprises established or assigned to manage by ministries, ministerial-level agencies, Government agencies, People's Committees of provinces and centrally-run cities (referred to as state companies).
– Enterprises decided to establish or assigned to manage by a single-member limited liability company with 100% charter capital held by the State (referred to as unconverted subsidiaries).
This Decree takes effect from September 1, 2024.
Procedures
