Vietnam’s Legal Policy on Obligations of Company Managers

Abstract

The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.