Chapter 2
INVESTMENT GUARANTEES
Article 6 Guarantees relating to capital and assets
1. Lawful assets and invested capital of investors shall not be nationalized or confiscated by administrative measures.
2. In a case of real necessity for the purpose of national defence and security and in the national interest, if the State acquires compulsorily or requisitions an asset of an investor, such investor shall be compensated or paid damages at the market prices at the time of announcement of such compulsory acquisition or requisition.
Payment of compensation or damages must ensure the lawful interests of investors and be made on the basis of non-discrimination between investors.
3. Any compensation or damages payable to foreign investors as stipulated in clause 2 of this article shall be made in a freely convertible currency and shall be permitted to be remitted abroad.
4. Procedures and conditions for compulsory acquisition and requisition [shall be implemented] in accordance with law.
Article 7 Protection of intellectual property rights
The State shall protect intellectual property rights during investment activities; and shall ensure the legitimate rights of investors in technology transfer in Vietnam in accordance with the laws on intellectual property and other provisions of the relevant laws.
Article 8 Opening markets and investments related to trade
In order to comply with the provisions of international treaties of which the Socialist Republic of Vietnam is a member, the State guarantees to implement the following provisions in respect of foreign investors:
1. To open the investment market in compliance with the committed schedule;
2. Not to compel investors to undertake the following requirements:
(a) To give priority to the purchase or use of domestic goods or services; or to purchase compulsorily goods from a specific domestic manufacturer or services from a specific domestic service provider;
(b) To export goods or services at a fixed percentage; to restrict the quantity, value or type of goods or services which may be exported or of goods which may be manufactured domestically or services which may be provided domestically;
(c) To import goods at the same quantity and value as goods exported, or to self-balance compulsorily foreign currency from sources obtained from exported goods in order to satisfy their import requirements;
(d) To achieve certain localization ratios during manufacture of goods;
(dd) To achieve a stipulated level or value in their research and development activities in Vietnam;
(e) To supply goods or provide services in a particular location whether in Vietnam or abroad;
(g) To establish its head office in a particular location.
Article 9 Remittance of capital and assets abroad
1. After a foreign investor has discharged fully its financial obligations to the State of Vietnam, it shall be permitted to remit abroad the following:
(a) Its profits derived from business activities;
(b) Payments received from the provision of technology and services and from intellectual property;
(c) The principal of and any interest on foreign loans;
(d) Invested capital and proceeds from the liquidation of investments;
(dd) Other sums of money and assets lawfully owned by the investor.
2. A foreigner working in Vietnam for an investment project shall be permitted to remit abroad his or her lawful income after having discharged fully his or her financial obligations to the State of Vietnam.
3. The remittance of the above sums of money shall be made in a freely convertible currency in accordance with the trading exchange rate published by a commercial bank selected by the investor.
4. Procedures for remitting abroad the sums of money relating to an investment activity shall be subject to the laws on foreign exchange control.
Article 10 Application of uniform prices, fees and charges
During the process of an investment activity, the investor shall be entitled to uniform application of price rates for goods and fees and charges for services which are controlled by the State.
Article 11 Investment guarantees in the event of changes in law or policies
1. If a newly promulgated law or policy contains higher benefits and incentives than those to which the investor was previously entitled, then the investor shall be entitled to the benefits and incentives in accordance with the new law as from the date the new law or policy takes effect.
2. If a newly promulgated law or policy adversely affects the lawful benefits enjoyed by an investor prior to the date of effectiveness of such law or policy, the investor shall be guaranteed to enjoy incentives the same as the investment certificate or there shall be resolution by one, a number or all of the following methods:
(a) Continuation of enjoyment of benefits and incentives;
(b) There shall be a deduction of the loss from taxable income;
(c) There shall be a change of the operational objective of the project;
(d) Consideration shall be given to paying compensation in necessary circumstances.
3. Based on the provisions of the laws and commitments in international treaties of which the Socialist Republic of Vietnam is a member, the Government shall make specific provisions on guarantee for interests of investors in the case where a change in laws or policies affects adversely the interests of the investors.
Article 12 Dispute resolution
1. Any dispute relating to investment activities in Vietnam shall be resolved through negotiation and conciliation, or shall be referred to arbitration or to a court in accordance with law.
2. Any dispute as between domestic investors or as between a domestic investor and a State administrative body of Vietnam relating to investment activities in the territory of Vietnam shall be resolved at a Vietnamese court or arbitration body.
3. Any dispute to which one disputing party is a foreign investor or an enterprise with foreign owned capital, or any dispute as between foreign investors shall be resolved by one of the following tribunals and organizations:
(a) A Vietnamese court;
(b) A Vietnamese arbitration body;
(c) A foreign arbitration body;
(d) An international arbitration body;
(dd) An arbitration tribunal established in accordance with the agreement of the disputing parties.
4. Any dispute between a foreign investor and State administrative body of Vietnam relating to investment activities in the territory of Vietnam shall be resolved by a Vietnamese court or arbitration body, unless otherwise provided in a contract signed between a representative of a competent State body of Vietnam with the foreign investor or in an international treaty of which the Socialist Republic of Vietnam is a member.
Tìm kiếm
Luật đầu tư 2005 (Bản Pdf)
Luật đầu tư 2005 (Bản Word)
