Current Trends and Implications of Corporate Law in Vietnam

Vietnam corporate law is transplanted from Western countries. It has developed in unique local circumstances where socialist legal ideology was dominant, no trading practice existed and private ownership was not recognized. However, it plays an important role in Doi Moi process of the Communist Party of Vietnam. By addressing forms of business establishments, their governance, liability, and rules on conduct of operations, corporate law contributes significantly to the development of the business community, releasing potential resources, making miracle growth in Vietnam over the last three decades. This article briefly introduces Vietnam corporate law and addresses some trends and implications for the next reform of corporate law.