Chương 1 Nghị định 18-CP: Những điều khoản chung

Chapter I

GENERAL PROVISIONS

Article 1

This Decree makes specific regulations on the forms of direct investment by foreigners. forms of indirect investment such as the provision of international credits and international aid are not subject to this Decree.

Article 2

For the purpose of this Decree, the following terms shall have the meanings ascribed to them there under:

1. Prescribed capital of an enterprise with foreign owned capital means the initial capital which is stipulated in the Charter of an enterprise. Loan capital is not included in the prescribed capital of an enterprise.

2. Invested capital means the capital to be employed in carrying out an investment project, including prescribed capital and loan capital.

Article 3

The following are subject to the foreign Investment Law:

1. Vietnamese enterprises of any economic sector, including:

- State-owned enterprises;

- Co-operatives;

- Enterprises established in accordance with the Law on Companies;

- Private enterprises established in accordance with the Law on Private Enterprises.

2. Foreign legal entities which, and individuals who make direct investment in Vietnam.

3. Enterprises with foreign owned capital.

4. State bodies who are parties to build-operate-transfer contracts.

5. Overseas Vietnamese who make direct investment in Vietnam or jointly contribute capital with one or more Vietnamese economic organizations for the purpose of investment co-operation with a foreign party. In both of the above instances, they shall enjoy favorable conditions which shall be the subject of separate provisions.

Article 4

1. Enterprises established in accordance with the Law on Companies and the Law on Private Enterprises may independently enter into business co-operation contracts with foreign organizations and individuals in every sector of the national economy except those in which investment is prohibited by the law and regulations of Vietnam.

2. In relation to investment areas for which, according to the provisions of the Law on Companies and the Law on Private Enterprises permission of the Prime Minister of the Government must be obtained before the investment takes place, any business c o-operation with a foreign party must also be carried out in accordance with those provisions.

Article 5

1. All foreign organizations which and individuals who invest in Vietnam shall observe the procedure set out in this Decree.

2. The allocation of land for business purposes under the foreign Investment Law shall comply with the provisions of the laws relating to land.

3. All construction projects shall comply with the regulations on Management of Capital Construction. During the construction phase, where it is proposed to use foreign standards and technology, the agreement of the Ministry of Construction shall first be obtained.

4. Official fees for considering an application for a business or investment license and a certificate of registration of charter of an enterprise shall be paid once in full at the time the application is filed.

The parties shall agree which of them shall bear the fees payable in relation to a business co-operation contract or joint venture enterprise.

Article 6

The State body of the Government of the Socialist Republic of Vietnam, which is stated in Chapter V of the Investment Law to be in charge of foreign investment, is the State Committee for Co-operation and Investment.

Article 7

Documents submitted to the State Committee for Co-operation and Investment shall be in Vietnamese and a widely-used foreign language. Both the Vietnamese and foreign language versions shall be equally valid.