Skip Ribbon Commands
Skip to main content
Link Web
Business > Posts
Closing a BusinessWednesday, 03/23/2005, 04:01

Dissolution of Foreign-invested Enterprises

The State Committee for Cooperation and Investment (now the Ministry of Planning and Investment) says in Circular 215UB/LXT dated February 8, 1995 giving guidelines for foreign investment in Vietnam, that foreign-invested enterprises are to be dissolved in the following cases:
Dissolution of Foreign-invested


Dissolution of Foreign-invested Enterprises


The State Committee for Cooperation and Investment (now the Ministry of Planning and Investment) says in Circular 215UB/LXT dated February 8, 1995 giving guidelines for foreign investment in Vietnam, that foreign-invested enterprises are to be dissolved in the following cases:

-Termination of the operational term as stipulated in the investment license.

-Parties in the joint venture enterprise or to the business cooperation contract cannot fulfill the agreement or contract due to force majeure.

-Parties in the joint venture enterprise or to the business cooperation contract are unable to fulfill obligations as stipulated in the joint venture agreement or the business cooperation contract. Therefore, the project cannot continue operation.

-The foreign-invested enterprise incurs losses to the extent that it cannot operate (except for the case where the enterprise cannot repay due debts).

-Other reasons as stipulated in the joint venture agreement, the business cooperation contract or the charter of the enterprise.

-A foreign-invested enterprise may be dissolved prior to expiry of its operational term by a decision of the licensing authority when it breaches the objective stipulated in the investment license or violates the law of Vietnam.
 

 


Views: 1 Print Back
 
Date: