Investment security for foreign investors under Vietnamese law
I am going to set up an investment in Vietnam but still worrying on the investment security under the law of Vietnam. Is there any kind of protection for foreign investors from the laws of Vietnam?
LEGAL BASIS:
- The Law on Enterprise 2014
- The law on Investment 2014
ANSWER:
In order to answer the question, the Vietnamese laws do provide the protection for foreign investments and investors.
Pursuant to Articles 5 of The Law on Enterprise 2014 on State guarantee for enterprises and enterprise owners"
| " The State shall recognize the long-term existence and development of the types of enterprise defined in this Law; ensure equality before law among enterprises, regardless of their form of ownership and economic sector; and recognize the lawful profit-making nature of business operations." |
In addition, Article 9 of the Law on Investment 2014 stipulates that:
|
"Lawful assets of investors shall be neither nationalized nor confiscated by administrative measures."
"in case the State compulsorily purchases or requisitions their assets for national defense or security reasons or in the national interest, in a state of emergency or in response to a national disaster, investors are entitled to payment or compensation in accordance with the law on compulsory purchase and requisition of property and other relevant laws."
|
Article 9 of the
Law on Investment 2014 also provides guarantee for the transfer of foreign investors’ assets abroad:
|
After fulfilling their financial obligations toward the Vietnamese State in accordance with law, foreign investors may transfer abroad the following assets:
1. Investment capital and investment liquidation proceeds;
2. Incomes from business investment activities;
3. Money and other assets under their lawful ownership.
|
Besides, there are many other types of protection under other laws and legal regulations in each specific areas.
Kind regards.
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