Vietnam's Corporate Insolvency Law: Emerging Issues and Proposals for Reform

This article analyzes the practice of enforcing corporate bankruptcy law in Vietnam in the context of an increasingly volatile business environment, thereby assessing the extent to which the rights and interests of relevant stakeholders are protected, market order is maintained, and economic restructuring is supported. The study employs a combination of legal analysis, synthesis, and comparative methods, alongside an examination of the practical application of existing regulations based on secondary data and selected case studies. The findings indicate that Vietnam’s corporate bankruptcy law has initially established a legal framework for addressing insolvency; however, its implementation still reveals several shortcomings, including protracted procedures, low effectiveness of business rehabilitation, and inadequacies in protecting the rights and interests of involved parties. On that basis, the article proposes orientations and solutions for improving the legal framework, focusing on enhancing enforcement efficiency, shortening procedural timelines, strengthening corporate rehabilitation mechanisms, and better safeguarding stakeholders’ rights, thereby contributing to a transparent and sustainable business environment.