Law on Foreign Investment (aa9Jun00) (Phillips Fox)

Law on Foreign Investment (aa9Jun00) (Phillips Fox) -...

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Subscription 37 (3/2000) 30 June 2000 © Official English Version Ministry of Planning and Investment and Allens Arthur Robinson I-1 NATIONAL ASSEMBLY SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness Hanoi, 12 November 1996 (as amended 9 June 2000) LAW ON FOREIGN INVESTMENT IN VIETNAM In order to expand economic co-operation with foreign countries and to support the cause of modernization, industrialization and development of the national economy on the basis of the efficient exploitation and utilization of national resources; In accordance with the 1992 Constitution of the Socialist Republic of Vietnam; This Law makes provisions for foreign direct investment in the Socialist Republic of Vietnam. CHAPTER I General Provisions Article 1 The State of the Socialist Republic of Vietnam encourages foreign investors to invest in Vietnam on the basis of respect for the independence and sovereignty of Vietnam, observance of its law, equality and mutual benefit. The State of Vietnam protects the ownership of invested capital and other legal rights of foreign investors, provides favourable conditions and formulates simple and prompt procedures for foreign investors investing in Vietnam.
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© Official English Version Ministry of Planning and Investment and Allens Arthur Robinson Subscription 37 (3/2000) 30 June 2000 I-2 Article 2 In this Law, the following terms shall have the meanings ascribed to them hereunder: 1. Foreign direct investment means the bringing of capital into Vietnam in the form of money or any assets by foreign investors for the purpose of carrying on investment activities in accordance with the provisions of this Law. 2. Foreign investor means a foreign economic organization or individual investing in Vietnam. 3. Foreign party means one party comprising one or more foreign investors. 4. Vietnamese party means one party comprising one or more Vietnamese enterprises from any economic sector. 5. Two parties means the Vietnamese party and the foreign party. Multi-party means a Vietnamese party and more than one foreign party, or a foreign party and more than one Vietnamese party, or more than one Vietnamese party and more than one foreign party. 6. An enterprise with foreign owned capital includes a joint venture enterprise and an enterprise with one hundred (100) per cent foreign owned capital. 7. A joint venture enterprise means an enterprise established in Vietnam by two or more parties on the basis of a joint venture contract or an agreement between the Government of the Socialist Republic of Vietnam and a foreign government, or an enterprise established on the basis of a joint venture contract between an enterprise with foreign owned capital and a Vietnamese enterprise or between a joint venture enterprise and a foreign investor. 8.
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Law on Foreign Investment (aa9Jun00) (Phillips Fox) -...

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