HANOI - Vietnam's National Assembly on Tuesday passed amendments to the Law on Enterprises, stipulating that civil servants and public employees are not allowed to establish, contribute capital to, or manage businesses, the Vietnam News Agency reported.

According to the report, the exceptions of this revised law will apply only in cases permitted by legal provisions on science, technology, innovation, and national digital transformation.

ALSO READ: Vietnamese National Assembly okays resolution amending 2013 Constitution

Under the 2020 version of the Law on Enterprises, public employees were allowed to contribute capital to but prohibited from establishing or managing enterprises.

The amended Law on Enterprises will take effect on July 1, 2025.