LEGAL ISSUES OF ENFORCEMENT FOR CORPORATE GOVERNANCE IN VIETNAM: CONSTRAINTS AND RECOMMENDATIONS

The aim of this article is to describe and analyze the legal issues of enforcement for corporate governance in Vietnam, focusing primarily on constraints that are faced by companies. And subsequent recommendations to Vietnam's policy makers are raised. In support of working out a legal framework on enforcement of corporate governance, the article has initially focused on assessment of the enforcement for corporate governance in Vietnam. The theoretical framework is that of OECD Principles of Corporate Governance (April 1999, Paris). Furthermore, this article briefly raises some relevant impacts by corporate governance enforcement on compliance with best standards of corporate governance. The article also addresses current impediments on enforcement of corporate governance. It is concluded that enforcement of corporate governance requires making the legal framework perfect to assist inspectors with enforcement of corporate governance; and improvements on the legal framework to enhance the capacity of implementing officials is a need.