Defining legal status for household businesses in Viet Nam - Key to formalization

This paper proposes that efforts to reform and develop the household business sector should commence with reforming the legal framework and regulations on sole proprietorship, reforming stipulations and regulations related to private enterprises under the Enterprise Law. 

As such, it is critically important to promulgate a law on sole proprietorship in the future. By developing a separate law on sole proprietorship and removing articles related to business individuals and private enterprises in the Enterprise Law, the regulations and legal framework applicable to business legal entities and business individuals can be separated, thus making regulations on enterprises in Viet Nam clearer, more systemic and transparent.