Law on Domestic Investment (Phillips Fox)

Law on Domestic Investment (Phillips Fox) - 31 August 1998...

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31 August 1998 © Ministry of Planning and Investment and Allens Arthur Robinson Subscription 26 (4/1998) I-1117 NATIONAL ASSEMBLY SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness No. 03-1998-QH10 LAW ON PROMOTION OF DOMESTIC INVESTMENT (amended) In order to mobilize and utilize effectively sources of capital, natural resources, labour, and other potential of the country for the purposes of economic and social development and making Vietnam a wealthy and strong country and its society fair and civilized; Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam; This Law makes provisions on the promotion of domestic investment. CHAPTER I General Provisions Article 1 The State shall protect, encourage, treat equally and facilitate organizations and individuals to invest in different sectors of the economy and society within the territory of Vietnam in accordance with the laws of Vietnam.
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31 August 1998 © Ministry of Planning and Investment and Allens Arthur Robinson Subscription 26 (4/1998) I-1118 Article 2 In this Law, the following terms shall have the meanings ascribed to them hereunder: 1. Domestic investment means any use of capital for production or business in Vietnam by an organization or individual as stipulated in article 5 of this Law. 2. Investor means any organization or individual using capital in investments as stipulated in article 4 of this Law. 3. Build - Operate - Transfer (BOT) Contract means a written document entered into between an authorized State body and an investor for the purpose of construction and operation of an infrastructure project for a definite term as agreed by the two parties; upon the expiry of such term, the investor shall transfer the project without compensation to the State. 4. Build - Transfer - Operate (BTO) Contract means a written document entered into between an authorized State body and an investor for the purpose of construction of an infrastructure project; upon the completion of construction, the investor shall transfer the project to the State. The authorized State body shall enter into a contract which grants the investor the right to operate such project for a definite term as agreed by the two parties. 5. Build - Transfer (BT) Contract means a written document entered into between an authorized State body and an investor for the purpose of construction of an infrastructure project; upon the completion of construction, the investor shall transfer the project to the State. The authorized State body shall enter into a contract which creates conditions for the investor to implement another project to recover the invested capital and earn profits. 6. Vietnamese residing overseas means Vietnamese citizens and foreign nationals of Vietnamese origin residing, working or living permanently in foreign countries. 7.
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Law on Domestic Investment (Phillips Fox) - 31 August 1998...

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