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STATUTE

VIETNAM CHAMBER OF COMMERCE AND INDUSTRY

(Issued together with the Decision No. 2177 / QD -TTg dated 11 November 2016 by the Prime Minister)

Chapter I: GENERAL PROVISIONS: 

Article 1. Name

1. Name in Vietnamese: Phòng Thương mại và Công nghiệp Việt Nam

2. Name in English: Vietnam Chamber of Commerce and Industry

3. Abbreviation: VCCI

Article 2. Objectives:

The Vietnam Chamber of Commerce and Industry is a national organization which assembles and represents business community, entrepreneurs, employers and business associations in Vietnam (hereinafter referred to as business community). The purpose of the Chamber is to develop, protect and support the business community, contribute to the national socio-economic development, promote economic, trade and technological cooperation with foreign partners on the basis of equality and mutual benefits, and in accordance with the law.

Article 3. Legal status and headquarter: 

1. The Vietnam Chamber of Commerce and Industry is a non – government, non – profit organization that has legal personality, financial autonomy, its own seal and account.  

2. The head office of Vietnam Chamber of Commerce and Industry is located in Ha Noi.

Article 4. Scope, organizational and operational principles.

1. The Vietnam Chamber of Commerce and Industry operates nation – wide, in accordance with the laws of Vietnam and this Statute.

2. The Vietnam Chamber of Commerce and Industry is placed under state management of competent authorities in accordance with the law.

3. The Vietnam Chamber of Commerce and Industry is organized and operated in line with the following principles:

a) Voluntariness and self-governing;

b) Democratic negotiation;

c) Equality, openness and transparency;

d) In compliance with the Constitution, laws and this Statute.

Chapter II: FUNCTIONS AND MISSIONS 

Article 5. Functions 

The Vietnam Chamber of Commerce and Industry has following functions: 

1. To represent Vietnam business community for promotion and protection of its legal and legitimate rights in domestic and international relations. 

2.To promote the development of business community, promote and support trade, investment, scientific-technological cooperation and other business activities of business community in Vietnam and abroad; promote the building of harmonious labor relations at enterprises. 

Article 6. Missions

The Vietnam Chamber of Commerce and Industry has following missions:

1. To collect information, study factual situation and make recommendations to the State and Party on  legal issues, policies and strategies of socio-economic development to improve business environment and build harmonious labor relations; organize forums, dialogues, meetings, acts as the focal point connecting enterprises and as a bridge between the business community and the Party, the State and other relevant entities in Vietnam and abroad to exchange information, ideas and propose solutions to outstanding problems and to improve policies and laws related to enterprises, the business environment and labor relations.

2. Participate, on behalf of business community, in drafting and promulgating process of legal and regulatory texts related to businesses, business activities and labor relations under different forms in accordance with current regulations.

3.  To act as the focal point  to collect information, inputs from business community, to organize and take part in the consultation process with negotiation delegations on economic and trade issues; together with competent State authorities to participate in the process of negotiating, concluding,  joining, ratifying and implementing economics and commercial international treaties and conventions to which the Socialist and Republic of Vietnam is a member; to organize business delegations to accompany Party and State leaders; to organize forums between  the Vietnamese businesses, Vietnam business councils and businesses from other countries and conduct other promotion activities in order to extend trade and international investment relations.  

4. To conduct the role of the representative organization at central level for Vietnam employers and participate in the tripartite mechanism on labor relations; to provide guidance to and support the establishment and the connection of the employers’ representative organizations at sectoral and and local levels; to cooperate with the employers’ representative organizations and relevant authorities to support enterprises and employers’ organizations in building harmonious, stable and progressive development of labor relations, in line with current laws and regulations.

5. To conduct activities to protect legitimate interests of business community in  domestic and international business relations; to provide consultancy and support in resolving outstanding issues and claims that business community may have with competent authorities throughout the process of doing business and implementing laws and regulations.

6. To carry out propaganda activities, disseminate information and provide consultancy on policies and laws and regulations implementation; to disseminate, provide and support business community with business, scientific and technological information.

7.To advocate among business community to raise awareness on corporate social responsibility, to build the business ethics and culture, to protect the environment and take part in other social activities in line with the Vietnam Chamber of Commerce and Industry’s activities in accordance with the law. 

8. To support the establishment of business associations, cooperate with them in operational capacity enhancement, build network of business associations throughout the country.  

9. To cooperate with relevant organizations and authorities in the country; cooperate with business community organizations abroad, to conclude and implement international cooperation agreements, to join international organizations in conformity with the law.   

10. To organize training in order to develop and foster human resources for enterprises and business associations, to improve the governance and business capacity for the entrepreneurs, to create a pool of dynamic and efficient enterpreneurs.

11. To carry out activities to develop and promote Vietnamese brands, ; improve reputations of goods, services, business community and business environment of Vietnam.

12. To organize activities to support business growth; to support business access to growth resources, assist businesses in development of domestic and international business and investment relations, through  measures such as: business matchmaking, providing information, guidance and consultancy for enterprises, organizing research and market  surveys, seminars, conferences, fairs, exhibitions, advertisements and commercial promotion activities as well as other investments and trade promotion activities in accordance with the law.  

13. To research, experiment on, implement and transfer new business models to support development of enterprises, business associations; to undertake researchs and survey projects regarding the competitive competence, labor relations and other isues with a view to improve the competitive advantages and boost the growth of enterprises and business  associations. 

14. To chair or co-organize activities of honoring, commending enterprises, businessmen, entities and individuals who have made a great contribution to the growth of the business community and economy in accordance with the law.

15. To assist with the registration and protection of the intellectual property’s rights and technology transfer in Vietnam and abroad in accordance with the law. 

16. To issue the certificate of origin for Vietnam exported goods under the mandate of competent authority; to certify force majeure cases, to certify and confirm other necessary documents in trading activities on the voluntary request of the parties involved in transactions or upon request, delegation of the competent agencies and organizations in Vietnam and abroad.

17. To assist domestic and foreign enterprises with resolution of disagreements, disputes through negotiation, conciliation or arbitration in accordance with the law.

18. To carry out other missions assigned or delegated by the competent authorities. 

Chapter III: MEMBERSHIP

Article7. Membership eligibilities and categories

1. Members of theVietnam Chamber of Commerce and Industry include organizations and individuals who meet the conditions prescribed in this article, agree to the Statute of the Vietnam Chamber of Commerce and Industry, voluntarily sign in and are admitted or invited by the Standing Committee or the Executive Committee of the Vietnam Chamber of Commerce and Industry.

2. Members of the Vietnam Chamber of Commerce and Industry consist of the official members, associate members and honor members.  

a) Official members are enterprises, business associations (sectoral business associations operating on nationwide scale or inter-provincial basis, provincial  business associations under central Government, other business associations and societies), economic entities, professional representative organizations that serve business activities and that are legally registered and perform activities in Vietnam in accordance with the law;

b) Associate members are enterprises, economic entities, business associations, societies, professional representative organizations that serve business activities and that are legally registered and perform activities in Vietnam but are not eligible or not yet able to meet requirements to be admitted as official members in accordance with the law;

c) Honor members are Vietnamese individuals or organizations who have special contribution to the implementation of the duties of the Vietnam Chamber of Commerce and Industry.

Article 8: Membership Admission procedures

The Standing Committee examines and decides on admission of official members and associate members. 

Upon the request of the Standing Committee, the Executive Committee shall decide on the invitation of honor members to join the Vietnam Chamber of Commerce and Industry.

In case of rejection, concerned organizations and individuals can appeal to the Executive Committee or the Congress. The decision of the Executive Commmittee or the Congress is final.

Article 9. Validation of membership

Organizations and individuals are considered to be members of the Vietnam Chamber of Commerce and Industry from the moment they are admitted by the Vietnam  Chamber of Commerce and Industry (for official and associate members) or from the time the organizations or individuals concerned  accept the invitation to join the Vietnam Chamber of Commerce and Industry (for honor members).

Article 10. Termination of membership

1. The membership with the Vietnam Chamber of Commerce and Industry will be terminated if the member concerned is:

a) Suspends or cease operation;

b) Dissolves or bankrupts;

c) Passes away or is convicted of criminal charges;

d) No longer meets conditions to be a member of the Vietnam Chamber of Commerce and Industry as stipulated in Article 7 of this Statute;

d) Voluntarily renounces its membership with the Vietnam Chamber of Commerce and Industry.

2. Members of the Vietnam Chamber of Commerce and Industry will be revoked the membership by the decision of the Standing Committee in one of the following cases: 

a) Fails to comply with the regulations and resolutions of the Vietnam Chamber of Commerce and Industry;

b) Operates contrary to the objectives of the Vietnam Chamber of Commerce and Industry, causing reputational or financial harm to Vietnam Chamber of Commerce and Industry.

3. Organizations and individuals being revoked the membership in accordance with paragraph 2 of this article are entitled to the right to make complaint to the Executive Committee or the Congress. The decision of the Executive Committee or the Congress shall be final.

Whenever a member voluntarily resigns from the membership with the Vietnam Chamber of Commerce and Industry in accordance with the clause 1 of this Article, they must submit a formal written notice to the Standing Committee.

For cases specified in the points a, b, c and d, clause 1 of this Article, the membership with the Vietnam Chamber of Commerce and Industry is terminated automatically.

Article 11. Other issues related to membership

1. Members of the Chamber of Commerce and Industry of Vietnam may change their membership status if they meet all the conditions of a desired membership.

Members of the Chamber of Commerce and Industry of Vietnam with the need for change of membership must submit a written request to the Standing Committee. The Standing Committee shall decide on the recognition of the new membership in cases of official members or associated members. The standing Committee shall recommend the Executive Committee to make the decision on the shift to the status of honor member. 

2. Organizations newly established on the basis of division, separation, merger, consolidation, renaming, restructuring of a member organization shall automatically be a member of the Vietnam Chamber of Commerce and Industry provided they meet all the conditions stipulated in Article 7 of this Statute and upon a written notice to the Standing Committee on the matter.

3. Members of the business associations ex officio become associate members of the Vietnam Chamber of Commerce and Industry provided they meet requirement specified in Article 7 of this Statutes, in absence of objection and if the Statute of the related business association contains no other regulations.

Article 12. Members’ rights

1. Official members have following rights: 

a) To participate in the regional member convention;

b) To participate in the Congress if being nominated by the consultative conference of members; 

c) To vote or cast a ballot at the Congress;

d) To nominate or be nominated for candidacy for election to the Executive Committee;

d) To make recommendations to the Congress, the Executive Committee, the Standing Committee on the operation and related issues on policies of the Vietnam Chamber of Commerce and Industry, economic legislation and business environment; 

e) To request  the  Vietnam Chamber of Commerce and Industry of Vietnam to provide support and protect legitimate rights and interests upon infringement;

g) To benefit from services of consultation, information dissemination, trade and investment promotion, image publication, training and other forms of support and services that the Vietnam Chamber of Commerce and Industry provides on the conditions of priority, preference or on free base. 

h) To be entitled to rewards and commendations in line with regulations of the Vietnam Chamber of Commerce and Industry;

i) To be cease to be a member of the Vietnam Chamber of Commerce and Industry of Vietnam in case of inability or unwillingness to continue affiliation.

2. Associate members and honor members are entitled to all the rights stipulated at the paragraph 1 of this Article, except the points c and d.

Article 13. Member’s obligations

1. Official and associate members have the following obligations:  

a) To pay the admission fee and annual membership fees in accordance with regulations of the Executive Committee. 

b) To Comply with the resolutions, decisions of the Congress  and Executive Committee. 

c) To attend the meetings convened or invited to by the Executive Committee. 

d) To foster solidarity and cooperation among fellow members in order to fulfil the goals of the Vietnam Chamber of Commerce and Industry. 

dd) To protect the prestige of the Vietnam Chamber of Commerce and Industry, do not engage in activities, transactions in the name of the Vietnam Chamber of Commerce and Industry unless being authorized in written by the President of Vietnam Chamber of Commerce and Industry;

e) To inform and report in conformity with regulations of the Vietnam Chamber of Commerce and Industry. 

2. Associate members follow provisions stipulated in Clause 3 of the Article 11 of this Statute and honor members have all the obligations specified in the paragraph 1 of this Article except  point a.

Chapter IV: STRUCTURE AND OPERATIONS

Article 14. Organizational structure

The Vietnam Chamber of Commerce and Industry consists of:

1. The National Congress (referred to as Congress in brief).

2. The Executive Committee

3. The Standing Committee.

4. The Supervising Committee.

5. The specialized units; branches, representative offices in Vietnam and abroad; attached organizations; other organizations established by the Vietnam Chamber of Commerce and Industry in accordance with the law.

Article 15. Congress

The Congress is the supreme governance body of the Vietnam Chamber of Commerce and Industry.

The Congress includes delegates elected by regional members’ conventions. The number and structure of delegates are decided  by the Executive Committee in proportion to the membership in various regions.

Article 16. Congress formula

The Congress composes of regular and extraordinary sessions.

A regular session of the Congress is convened by the Executive Committee every 5 years with the following tasks:

1. Discussion and adoption of the Vietnam Chamber of Commerce and Industry’s report of the past term, orientations and tasks of the Vietnam Chamber of Commerce and Industry in the upcoming term and the review report of the Executive Committee of the Vietnam Chamber of Commerce and Industry 

2. Discussion and approval of amendments or supplementations to the Statute of the Vietnam Chamber of Commerce and Industry 

3. Election of the Executive Committee and Control Committee.

4.Discussion and decision on other issues concerning the work of the Vietnam Chamber of Commerce and Industry and its members.

5. Adopting Congress Resolutions

The extraordinary session of the Congress is convened on the decision of the Executive Committee or at the request of over half of its members to resolve organizational matters and operations of the Vietnam Chamber of Commerce and Industry that exceeds the authority of the Executive Committee.

Article 17. Convening the Congress

1.When convoking the regular session of the Congress, the Executive Committee must publish agenda, draft documents and decide on the number and structure of delegates and guide members to elect delegates at least 30 days before the Congress.

2. The Standing Committee holds regional members’ conventions to discuss on the draft documents and elect delegates to the Congress at least 15 days before the Congress.

3. The convocation of an extraordinary session of the Congress and the agenda must be announced at least 15 days before the session. The delegates to the extraordinary session of the Congress are people who have been elected to attend the the last regular session of the Congress.

Article 18. The voting principles at the Congress:

1. Congress may vote by raising hands or secret ballot. The form of voting is decided by the Congress.

2. The Congress Resolutions are adopted when over half of official delegates present at the Congress agree to, except the matters defined in paragraph 3 of this Article.

3.The Resolutions of the Congress on one of the following issues are adopted only when at least 2/3 of the official delegates present at the Congress agree to, and these delegates  must be over half of total number of the elected official delegates to attend the Congress:

a) Amendment and supplementation to the Statutes:

b) To consider the recognition of new members who have been rejected by the Executive Committee if concerned organizations and individuals make request;

c) To investigate and resolve complaints regarding revoking of the membership in accordance with clause 2 of Article 10 of this Statute;

d) Dissolve and liquidate assets of the Vietnam Chamber of Commerce and Industry.

Article 19. Executive Committee; 

1. The Executive Committee is a body elected by the Congress from representatives of official members and full time officials of the Vietnam Chamber of Commerce and Industry. The Executive Committee is elected by the Congress in the voting form of raising hands or secret ballot. The choice of voting form is decided by the Congress. The Executive Committee leads all activities of the Vietnam Chamber of Commerce and Industry during the period between the two Congresses.

2. The number of members of the Executive Committee is decided by the Congress, in which, it must be assured that at least 3/4 of the members are representatives of the official member organizations. The number of members of the Executive Committee can be added by a decision of the Executive Committee but shall not exceed 30% of the total number of the Executive Committee’s members decided by the Congress.

3. The Executive Committee consists of: 

a) The President;

b) Vice Presidents;

c) The Congress;

d) Members.

The President, Vice Presidents and General Secretary are the leading positions of the Vietnam Chamber of Commerce and Industry, having the same term as the Congress and are elected by the Executive Committee from its members.

4. The term of the Executive Committee is 5 years. Members of the Executive Committee can be discharged before the term ends by a decision of the extraordinary  Congress or with the approval of at least 2/3 of the Executive Committee’s members. 

5. In case the Executive Committee’s members who are  full-time officials of the Vietnam Chamber of Commerce and Industry but, for various reasons, are unable to continue their duties before the term end, the Standing Committee shall nominate a replacement.

In case the Executive Committee members who are representatives of official members of the Vietnam Chamber of Commerce and Industry are retired, suspended from work or for other reasons, unable to continue their duties before the term ends, those representatives’ organization must inform the Standing Committee and have the right to nominate a replacement within 30 days after the occurrence of the above situations. If that concerned organization  does not nominate a replacement in such period, the Standing Committee will nominate a replacement .

The person nominated by the Standing Committee  for replacement can  be recognized as member of the Executive Committee only with the approval of over half of the total number of members of the Executive Committee following one of  the decision making modes  specified in the Article 21 of this Statute.

6. The members of the Executive Committee are official and ex officio delegates to the next Congress.

Article 20.  Duties and powers of the Executive Committee

The Executive Committee have following duties and powers :

1.To study and set forth necessary works and measures to implement Congress Resolutions .

2. To decide on work program and annual budget plan of the Vietnam Chamber of Commerce and Industry, to define matters related to the membership fees.

3. To decide on the establishment, operations and dissolution of councils, boards of the Executive Committee.

4. To elect the President, Vice-Presidents, General Secretary, Standing Committee; to elect additional members of the Executive Committee, members of the Auditing Committee of theVietnam Chamber of Commerce and Industry.

5. To monitor activities of the Standing Committee 

6. To prepare agenda and organizational issues for the regular and extraordinary Congress 

7. To decide on the invitation of the organizations and individuals to participate in different boards of the Executive Committee,  to invite honor members of the Vietnam Chamber of Commerce and Industry.

8. To decide on the replacement, supplementation or exoneration of the Executive Committee’s and Control Committee’s members prescribed in the paragraphs 4 and 5 of the Article 19 of this Statute.

9.  To Settle complaints under provisions of the Article 8 and paragraph 2 of the Article 10 of this Statute.

10. To consider the opinions and proposals of the members, to prepare information and recommendations to be submitted to State bodies

Article 21. Operations of the Executive Committee 

1. The Executive Committee shall meet at least once every 6 months on the invitation of the President of the Vietnam Chamber of Commerce and Industry sent at least 15 days in advance.

2. The Executive Committee approves the decisions under its authority by voting at the meeting or collecting opinion in written form.

The decision of the Executive Committee is approved only after receiving support of the majority of members of the Executive Committee and authorized representatives. In case the votes or the number of views are equal, the decision of the President of the Vietnam Chamber of Commerce and Industry shall be the final.

In case of collecting written opinions, the number of supporters must be over half of the total number of members of the Executive Committee.

In case of getting approval by written document, the number of supported ballots must be over at least 2/3 of the members of the Executive Committee.

In particular, the decision on convening the extraordinary Congress needs to have a consensus of at least 2/3 of the members of the Executive Committee.

3. The Executive Committee will base on the Statute and the Resolutions of the Congress to define the working regulations and assign the tasks to members. Unless this Statute  stipulates otherwise,  members of the Executive Committee are allowed to engage on behalf of the Chamber of Commerce and Industry of Vietnam in activities and transactions only when they are authorized by the President of Vietnam Chamber of Commerce and Industry with written notice.

Article 22. Standing Committee

1.The Standing Committee is appointed by the members of the Executive Committee who are full-time officials of the Vietnam Chamber of Commerce and Industry. The Standing Committee consists of the President and Vice-Presidents, General Secretary and the Standing Committee’s members.

The Standing Committee is the standing body of the Executive Committee, directly leading and managing the operations of the Vietnam Chamber of Commerce and Industry during the period between two meetings of the Executive Committee.

2. The Standing Committee has following duties:

a) To organize the implementation of resolutions and decisions adopted by the Congress and the Executive Committee;

b) To manage and carry out  routine work of the Vietnam Chamber of Commerce and Industry; to make decision on appointment and exoneration from duties of the Deputy General Secretaries, heads of of specialized units, branches, representative offices, attached organizations, and the other units of the Vietnam Chamber of Commerce and Industry; to monitor  activities of the organizations under the Vietnam Chamber of Commerce and Industry;

c) To make decision on the establishment of specialized units and organizations of the  Vietnam Chamber of Commerce and Industry; to make decision on the establishment of council, boards, centers, specialized, thematic forums of the Standing Committee;

d) To issuing work rules, internal regulations of the Vietnam Chamber of Commerce and Industry;

e) To prepare agenda for meetings of the Executive Committee 

f) To make recommendations to the Executive Committee on  inviting organizations and individuals to join boards, councils established by the Executive Committee; to make the proposals for the Executive Committee on inviting  honor members of the Vietnam Chamber of Commerce and Industry;

g) To perform other duties authorized by the Executive Committee.

The Standing Committee reports to the Executive Committee on the performance of its duties. The Standing Committee formulates its operational regulations for the implementation of the assigned tasks.

Article 23. President, Vice Presidents and General Secretary:

1.The President is a legal representative of the Vietnam Chamber of Commerce and Industry, responsible for the whole activitiess of the Vietnam Chamber of Commerce and Industry. The President is the head of the Standing Committee.

During the President’s absence, the President delegates a Vice President to be in charge of administering the affairs of the Vietnam Chamber of Commerce and Industry.

2.The Vice Presidents include full-time Vice Presidents and part time Vice Presidents. The full time Vice-Presidents are full time officials of  the Vietnam Chamber of Commerce and Industry assigned by the President to assist him in some specific fields of work.

3. The General Secretary is responsible for assisting the President with coordinating activities of the specialized units and organizations directly under the Vietnam Chamber of Commerce and Industry. He/she is assigned by the President to be in charge of some specific fields of work.

Article 24. Supervising Committee

The Control Committee consists of a number of members of the Executive Committee elected by the Congress for a term of 5 years. The Control Committee elects the head of the committee to manage its work. 

The Control Committee is responsible for inspecting the credibility of the delegates to the Congress; inspecting the compliance with the Statute of the Vietnam Chamber of Commerce and Industry, Resolutions and Decisions of the Congress and the Executive Committee of the Vietnam Chamber of Commerce and Industry and report the inspection results to the Executive Committee and Congress. The working rules of the Auditing Committee are determined by the Executive Committee.

Article 25. Separation, division, merger, amalgamation, change of name and dissolution

Separation, division, merger, amalgamation, change of name and dissolution of the Vietnam Chamber of Commerce and Industry are made in conformity with the law and this Statute.

Article V: Finance and assets

Article 26. Finance and asset mechanisms 

1. The Vietnam Chamber of Commerce and Industry has independent budget and assets,  and operates on the basis of financial autonomy in accordance with the relevant provisions of the law.

2. The properties of the Vietnam Chamber of Commerce and Industry include offices, equipments and facilities for its activities and other legally obtained assets.

Article 27. Revenues

The revenues of the Chamber of Commerce and Industry of Vietnam are generated from the following sources:

1. Admission fees and membership dues;

2. Revenues from  activities of the Vietnam Chamber of Commerce and Industry, attached units and other organizations of the Vietnam Chamber of Commerce and Industry;

3. The State budget supporting for activities assigned by the State in accordance with the law;

4. Fund raising activities, grants, contributions from associations, businesses, organizations and individuals in Vietnam and abroad.

5. Other legal revenues.

Article 28. Expenditures:

The Vietnam Chamber of Commerce and Industry uses the budget and its assets for the following activities:

1. Expenses for activities of the Vietnam Chamber of Commerce and Industry 

2. Salaries and expenses for facilities and activities of full time units, organizations of the Vietnam Chamber of Commerce and Industry;

3. Expenses for expanding domestic and international activities in accordance with the functions and duties of the Vietnam Chamber of Commerce and Industry as stipulated by the law.

4. Other expenses prescribed by the law and regulations specified in paragraph 6 of the Article 29 of this Statute.

Article 29. Assets and budget management

1.The management and use of assets and budget of the Vietnam Chamber of Commerce and Industry must guarantee the principles of openness and transparency in accordance with the law and this Statute. 

2. Assets and budget of the Vietnam Chamber of Commerce Industry are used to implement missions, goals, rights and obligations of the Vietnam Chamber of Commerce and Industry of Vietnam, not allowed to be divided for members.

3. The management and use of assets and budget provided, contracted and supported by the Government to carry out assigned tasks shall be made in accordance with provisions of the law on the State budget and other related laws.

4. The management and use of assets, finance that are not subject to those described in Clause 3 of this Article shall be carried out in conformity with the law and the regulations specified in the clause 6 of this Article.

5. Budget and assets of the Vietnam Chamber of Commerce and Industry upon a division, separation, merger, dissolution will be resolved in accordance with the law.

6. The Standing Committee promulgates regulations on management, use of budgets and assets of the Vietnam Chamber of Commerce and Industry, ensuring the principles of openness, transparency, efficiency in accordance with the provisions of the law and this Statute.

7. The President of the Vietnam Chamber of Commerce and Industry is responsible for the management of budget and assets of the Vietnam Chamber of Commerce and Industry.

Article VI: REWARDS AND DISCIPLINES

Article 30. Rewards

Organizations, units and individuals of the Vietnam Chamber of Commerce and Industry, and its members who have made outstanding achievements are rewarded by the Vietnam Chamber of Commerce and Industry or recommended by the Vietnam Chamber of Commerce and Industry to the competent authorities, organizations to reward in accordance with the law and regulations on commendation of the Vietnam Chamber of Commerce and Industry.

Article 31. Disciplines

Organizations, units and individuals of the Vietnam Chamber of Commerce and Industry, and its members committing violations against the Statute, regulations, rules of the Vietnam Chamber of Commerce and Industry will be subject to disciplinary sanction with forms according to the disciplinary rules of the Vietnam Chamber of Commerce and Industry.

Article VII: IMPLEMENTATION CLAUSE

Article 32. Amendment and supplementation of the Statute.

This Statute can be amended and supplemented by the decision of the Congress according to procedures prescribed in the clause 3 of the Article 18 of this Statute.

Article 33. Effects

This Statute was adopted by the 5th National Congress of the Vietnam Chambers of Commerce and Industry on 28 may 2015 and shall take effect following the approval decision of the Prime Minister.