Domestic enterprises In what cases must a country publish unusual information on the Business Information Portal?

In what cases must state-owned enterprises disclose unusual information on the Enterprise Information Portal?

According to the provisions of Article 24 of Decree 47/2021/ND-CP regulating information Unusual announcements of state-owned enterprises are as follows:

Accordingly, state-owned enterprises must announce abnormalities on the Enterprise Information Portal and send unusual information to the owner’s representative agency within 36 hours from the occurrence of one of the events specified in Clause 1, Article 110 of the Law on Enterprises 2020, specifically as follows:

– The company’s account is blocked or allowed to operate again after being blocked;

– Temporarily suspend part or all of business activities;

+ Having the Business Registration Certificate, establishment license, establishment and operation license, operating license or other license related to the company’s operations revoked;

– Amending and supplementing the content of the Business Registration Certificate, establishment license, establishment and operation license, operating license or other licenses related to the company’s operations;

– Change members of the Board of Members, Company President, Director, Deputy Director or General Director, Deputy General Director, Chief Accountant, Head of Finance and Accounting Department, Head of the Supervisory Board or Controllers;

– There are disciplinary decisions, prosecutions, court judgments and decisions against enterprise managers;

– There is a conclusion from the inspection agency or tax administration agency about the enterprise’s violation of law;

– There is a decision to change the independent audit organization or to refuse to audit the financial statements;

– There is a decision to establish, dissolve, consolidate, merge, or convert subsidiaries, branches, and representative offices; decide to invest, reduce capital or divest investment in other companies.

How do state-owned enterprises disclose information related to business secrets?

What are business secrets?

According to the provisions of Clause 23, Article 4 of the 2005 Intellectual Property Law as amended by Clause 2, Article 1 of the 2009 Amended Intellectual Property Law, business secrets are information obtained from financial and intellectual investment activities that have not been disclosed and can be used in business.

How do state-owned enterprises disclose information related to business secrets?

Comparing with the provisions in Clause 1, Article 25 of Decree 47/2021/ND-CP, with important content, related to or affecting national secrets and security, business secrets:

Step 1: The state-owned enterprise reports to the owner’s representative agency to decide on the content that needs to be limited in information disclosure.

Step 2: The owner’s representative agency reviews, evaluates, and decides to limit the disclosure of important information related to or affecting national secrets and security, business secrets of state-owned enterprises;

At the same time, notify the Ministry of Planning and Investment for monitoring and supervision.

Which agency is responsible for reporting to the Prime Minister on the implementation of information disclosure of state-owned enterprises?

Pursuant to Article 32 of Decree 47/2021/ND-CP stipulating the responsibilities of the Ministry of Planning and Investment:

Responsibilities of the Ministry of Planning and Investment

1. Ensure information infrastructure and related equipment to manage, maintain and operate the Enterprise Information Portal continuously, stably, ensuring safety and easy access to information published by enterprises.

2. Organize training and guidance on information disclosure, management and exploitation of the National Database on State-owned Enterprises.

3. Summarize the situation of information disclosure of state-owned enterprises, review and publicize the list of enterprises that do not disclose information on the Enterprise Information Portal, report to the Prime Minister and notify the owner’s representative agency so that competent authorities can handle violations according to regulations.

4. Build, update, manage and exploit the national database of state-owned enterprises on the Enterprise Information Portal, meeting the requirements for accessing and effectively using information to serve social benefits.

5. Preside over integrating, sharing and connecting the National Database of State-owned Enterprises with enterprise databases of ministries, ministerial-level agencies, Government agencies, People’s Committees of provinces and centrally-run cities and other organizations to exploit, use and serve the direction and administration of the Government.

6. Periodically review and propose plans to upgrade and develop the information technology infrastructure system of the Business Information Portal. Prepare regular, periodic or unexpected budget estimates to ensure funding for operating and upgrading the Enterprise Information Portal.

Thus, the Ministry of Planning and Investment is responsible for reporting to the Prime Minister on the status of information disclosure of state-owned enterprises according to regulations.