Joint Circular No. 01/2008/TTLT-BKH-BNG dated March 17, 2008 of the Ministry of Planning and Investment and the Ministry of Foreign Affairs providing guidance on the establishment of foreign investment promotion sections in some key countries

PROVIDING GUIDANCE ON THE ESTABLISHMENT OF FOREIGN INVESTMENT PROMOTION SECTIONS IN SOME KEY COUNTRIES

Pursuant to the November 29, 2005 Investment Law and the Governments Decree No. 108/2006/ND-CP of September 22, 2006, detailing and guiding the implementation of a number of articles of the Investment Law;

Pursuant to the December 2, 1993 Ordinance on Overseas Representative Missions of the Social Republic of Vietnam and the Governments Decree No. 183/CP of November 18, 1994, detailing the implementation of the Ordinance;

In furtherance of the Prime Ministers instructions in Notice No. 103/TB-VPCP of May 9, 2007, on the scheme on strengthening foreign investment promotion sections in some key countries;

The Ministry of Foreign Affairs and the Ministry of Planning and Investment jointly guide the establishment, organization and management of the operation of foreign investment promotion sections in some key countries as follows:

I. TRANSACTION NAME OF THE INVESTMENT PROMOTION SECTION:

Foreign investment promotion sections are under Vietnams overseas representative missions in some key countries and have their transaction name in English as Investment Promotion Section. At a representative mission that has an Economics Department, the Investment Promotion Section is part of the Economics Department.

II. FUNCTIONS AND TASKS OF INVESTMENT PROMOTION SECTIONS AND WORKING COORDINATION MECHANISM

1. To submit to the direction by the head of the representative mission, receive information and submit to professional direction by the Ministry of Planning and Investment through the head of the representative mission.

2. To monitor, synthesize and regularly and quarterly report through the head of the representative mission to the Ministries of Planning and Investment and Foreign Affairs on investment cooperation between Vietnam and host countries; to study strategies, policies, laws, investment plans; investment attraction demand and investment mobilization capacity and investment procedures of host countries; orientations on cooperation and development of investment relations between host countries and Vietnam in order to supply information and propose prompt solutions to concerned domestic agencies concerning policies and methods to develop investment cooperation relations.

3. To actively seek opportunities, contact and mobilize host countries investors to make investment in Vietnam; to introduce Vietnams situation, capacity and demand for investment cooperation to companies, organizations and enterprises in host countries; to introduce, guide and support host enterprises wishing to invest in Vietnam; to jointly investigate Vietnam-based investors of host countries at the request of competent Vietnamese agencies; to participate in workshops, conferences, forums and events on investment cooperation in host countries; to participate in negotiations on, and urge the implementation of, treaties on investment cooperation as assigned.

4. To guide, participate in and support Vietnams investment promotion activities in host countries; to introduce host countries investment cooperation situation, capacity and demand to Vietnamese companies, organizations and enterprises; to guide and support Vietnamese enterprises to invest in host countries.

5. To coordinate with other sections in the representative mission in protecting lawful rights and interests of Vietnamese agencies, organizations and enterprises investing in host countries; to propose to the head of the representative mission measures for handling problems arising in investment cooperation relations between Vietnams and host countries agencies, organizations and enterprises.

6. To work out annual work plans and programs and submit them to the head of the representative mission for approval and report to the Ministry of Planning and Investment. In the course of implementation, to report changes, if any, to the head of the representative mission and the Ministry of Planning and Investment.

7. To regularly be supplied by the Ministry of Foreign Affairs and the Ministry of Planning and Investment with necessary information and documents and instructions for the performance of its assigned tasks through the head of the representative mission.

8. When receiving instructions from domestic specialized management agencies, to report them to the head of the representative mission and the Ministry of Planning and Investment. When specialized affairs need to be settle urgently, if opinions of domestic specialized agencies and the head of the representative mission are different, to comply with the decisions of the head of the representative mission. The head of the representative mission shall immediately report his/her decision to the Minister of Foreign Affairs, the Minister of Planning and Investment and heads of domestic specialized agencies.

9. To perform other tasks as assigned by the head of the representative mission.

III. ORGANIZATION OF AN INVESTMENT PROMOTION SECTION:

1. Depending on each host countrys characteristics and the number of investment promotion cadres working in a representative mission, the head of the representative mission may establish an Investment Promotion Section within the Economics Department or directly attached to the representative mission.

2. Investment promotion cadres have diplomatic titles from attaches to counselor.

IV. Regime and criteria for appointment of cadres:

1. Based on working requirements of each host country, the approved payroll and the cadre criteria, the Ministry of Planning and Investment shall select qualified cadres from the Ministry and other ministries and branches in charge of general economic affairs and recommend them to the Ministry of Foreign Affairs.

2. Besides criteria specified in Article 5 of the Governments Decree No. 183/CP of November 18, 1994, investment promotion cadres appointed to work at representative missions must fully satisfy the following conditions:

a/ Having good moral and political qualities;

b/ Having professional qualification and thorough knowledge about Vietnamese foreign investment laws and policies; and experience in foreign investment and management promotion;

c/ Being fluent in the language of the host country or at least one universal foreign language which may be used widely in the host country;

d/ Being physically fit.

3. The Ministry of Foreign Affairs shall hold foreign language tests and train political and foreign-relation skills for recommended cadres in order to appoint qualified cadres.

4. The Minister of Foreign Affairs shall consider and decide the appointment of diplomatic titles for investment promotion cadres at the proposal of the Minister of Planning and Investment and on the basis of actual working requirements, the payroll, capacity and code of conduct of cadres in accordance with relevant provisions of law.

5. The working duration of investment promotion cadres is 3 years.

In special cases, based in working requirements and the opinions of the Minister of Planning and Investment, heads of concerned agencies and heads of representative missions, the Minister of Foreign Affairs may decide to extend this duration for no more than 18 months.

V. MATERIAL FOUNDATIONS AND FINANCIAL REGIME:

1. The head of a representative mission shall arrange working places, accommodation and working facilities for the Investment Promotion Section within the budget capacity of the representative mission for the fulfillment of the Sections assigned tasks.

2. Annually, based on approved work plans and programs, the Investment Promotion Section shall estimate a budget for investment promotion activities in the host country and submit it to the head of the representative mission for approval and inclusion in the representative missions annual budget.

3. The Investment Promotion Section shall comply with approved expenditure estimates and the representative missions specific guidance pursuant to current regulations.

4. When investment promotion activities need unexpected expenses beyond the approved budget, or the Investment Promotion Section may use part of the approved budget for other activities of the representative mission and shall report it to the head of the representative mission for decision.

VI. OTHER PROVISIONS:

1. This Circular takes effect 15 days after its publication in CONG BAO.

2. Any problems arising in the course of implementation of this Joint Circular should be reported by representative missions to the Ministry of Foreign Affairs and the Ministry of Planning and Investment for coordinated settlement.

JOINT CIRCULAR