|
CHAPTER
III
Investment
Guarantee Measures
Article 20
The State of the Socialist Republic of
Vietnam shall guarantee that foreign investors investing in
Vietnam are treated fairly and equitably.
Article 21
During the course of investment in Vietnam,
capital and other lawful assets of foreign investors shall not
be requisitioned or expropriated by administrative measures,
and enterprises with foreign owned capital shall not be
nationalized.
The State of the Socialist Republic of
Vietnam shall protect industrial property rights and shall
guarantee the legal interests of foreign investors in respect
of technology transfers into Vietnam.
Where the interests of a licensed
enterprise with foreign owned capital or of the parties to a
licensed business co-operation contract are adversely affected
by a change in the law of Vietnam, the State shall take
appropriate measures to protect the interests of the
investors.
Article 22
Foreign investors investing in Vietnam
shall have the right to transfer abroad:
1. Their profits derived from business
operations;
2. Payments received from the provision
of technology and services;
3. The principal of and interest on any
foreign loan obtained during the course of operation;
4. The invested capital;
5. Other sums of money and assets
lawfully owned.
Article 23
Foreigners working in Vietnam for
enterprises with foreign owned capital or for parties to
business co-operation contracts shall, after payment of income
tax as stipulated by law, be permitted to transfer abroad
their lawful incomes.
Article 24
Any dispute between the parties to a
business co-operation contract, between the parties to a joint
venture contract, or between enterprises with foreign owned
capital or parties to a business co-operation contract and
Vietnamese enterprises must firstly be resolved by negotiation
and conciliation.
Where the parties fail to settle the
dispute by way of conciliation, the dispute shall be referred
to a Vietnamese arbitration body or a Vietnamese court in
accordance with the law of Vietnam.
With respect to disputes between parties to
a joint venture enterprise or a business co-operation
contract, the parties may agree in the contract to appoint
another arbitration body to resolve the dispute.
Any disputes arising from a
Build-Operate-Transfer, a Build-Transfer-Operate or a
Build-Transfer contract shall be resolved in accordance with
the dispute resolution mechanism agreed by the parties and
stated in the contract.
Top
| Prev Page | Index
| Next Page
|
