Vietnam’s Enterprise Law has been amended last November and now provides a legal definition of social enterprise. The law also grants social enterprises a number of rights. British Council Vietnam has played a vital role in supporting this amendment.
The law states that government will “encourage, support and promote the development of social enterprises.” This means that social enterprises will enjoy “preferential conditions or be considered for special treatment” in receiving licenses and certificates. According to Pham Kieu Oanh, founder and CEO of Centre for Social Initiatives Promotion (CSIP), the law “creates new opportunities for social enterprises to conduct policy advocacy and supports the development of a comprehensive ecosystem for SEs. It also makes it easier for them to secure capital and form partnerships with the public, private and third sectors.”
Photo credit: The British Council
via Approved! Social enterprise receives legal status in Vietnam | The Guardian