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Vietnam Legal System Business: Regulated Subjects

Vietnam Legal System Business: Regulated Subjects

In Vietnam, economic law was born and recognized as an independent law branch in the system of Vietnamese law branches since the 70s of the twentieth century and it is an important part of the Vietnam legal system business. Up to now, economic law still exists and develops in terms of content as well as form.

The Concept of Economic Law in the Vietnam legal system business

The Concept of Economic Law in the Vietnam legal system business

Economic law is a collection of legal norms promulgated or recognized by the State, regulating social relations arising in the process of organization, management and production and business activities between enterprises and enterprises. and between enterprises and state management agencies in charge of the economy.

Economic law is a part of economic law, which is a system of legal norms promulgated by the state to regulate economic relations arising in the process of economic organization and management of the state. and in the process of production and business between business entities.

Economic Law was born to maintain and settle disputes in business and commerce as well as ensure the operation process of enterprises in the process of exchange and trade both domestically and internationally.

Economic law regulates two main groups of social relations, namely: relations between the state management agencies in charge of the economy and enterprises, arising in the process of organizing and managing business activities, and the relationship between the state management agencies in charge of the economy and enterprises. relationship between enterprises, arising in the course of conducting business activities. In addition, economic law also regulates internal economic relations, that is, regulates the relations between the constituent parts of an enterprise, a business entity. The subjects of economic law are business entities and economic state management agencies.

Economic law appeared in the early years of the twentieth century in capitalist countries, when some bourgeois states increased their intervention in the field of economic relations. After the Russian Revolution of 1917, along with the formation of the Federal State of the Soviet Socialist Republic and then the system of socialist countries, in these countries economic law recognized as a branch of law in the legal system of each country.

In Vietnam, economic law was born and recognized as an independent law branch in the system of Vietnamese law branches since the 70s of the twentieth century and it is an important part of the economic legal system. Up to now, economic law still exists and develops in terms of content as well as form.

Economic law includes the following specialties:

  • International trade law
  • Business law
  • Law on Banking and Finance.

What is the study of economic law?

What is the study of economic law?

Students studying Economic Law are provided with in-depth knowledge and skills in law, legal practice, and business law; ability to research and handle legal issues posed in the practice of business activities of enterprises and state management of enterprises.

Some key subjects in the economic law training program: Intellectual Property Law, Enterprise Law, Commercial Law, Competition Law, Non-contractual Damage Compensation Obligation, Registration Procedure business and investment procedures, Bankruptcy and dispute resolution in business activities, Law on real estate business, Law on Investment, Law on construction investment… they

Concept of economic law in Vietnam legal system business

Economic law in the context of a market economy is a combination of legal norms promulgated by the state to regulate economic relations arising during the organization and management of the state’s economy and in the process of economic development. business processes between business entities:

The target audience of economic law

Regulated objects of economic law are economic relations affected by economic law, including:

Group of economic management relations

  • Is the relationship arising during economic management between economic state management units and business entities.
  • Features of this group of relationships:
    • Economic management relations arise and exist between management agencies and regulated agencies (Business entities) when the management units perform their management functions.
    • Subjects participating in this relationship are in an unequal position (Because this relationship is formed and made based on the principle of authority and submission)
    • Legal basis: Focus on approving legal documents that are promulgated by competent management units.

You can read the previous article here: Economy in Vietnam: Corporate Bond Market

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Q: What is the currency in Vietnam?

The currency in Vietnam is the Vietnamese dong (VND). The exchange rate as of February 2023 is around 23,000 VND to 1 USD.

Q: What are the main industries driving Vietnam’s economy?

Vietnam’s economy is driven by several key industries, including manufacturing, agriculture, and services.

Q: What is the current state of the economy in Vietnam?

Vietnam’s economy has been experiencing rapid growth in recent years, with a 7.11% growth rate in 2019 before being impacted by the COVID-19 pandemic in 2020.

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Professional Content Writter about the office space for lease, coworking, serviced office, retailed space.

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