Resolution No. 103/2020/QH14 ratifying the Investment Protection Agreement Vietnam - EU

RESOLUTION

Ratifying the Investment Protection Agreement between the Socialist Republic of Vietnam and the European Union and its member states^[1]

THE NATIONAL ASSEMBLY

Pursuant to the Constitution of the Socialist Republic of Vietnam;

Pursuant to Law No. 108/2016/QH13 on Treaties;

At the proposal of the President in Report No. 02/TTr-CTN of April 18, 2020, on the ratification of the Investment Protection Agreement between the Socialist Republic of Vietnam and the European Union and its member states;

After considering the Government’s Explanatory Report No. 207/BC-CP of May 13, 2020, the National Assembly Committee for External Relations’ Appraisal Report No. 4684/BC-UBDN14 of May 13, 2020, and the National Assembly deputies’ opinions,

RESOLVES:

Article 1.Ratification of the treaty

To ratify the Investment Protection Agreement between the Socialist Republic of Vietnam, as one party, and the European Union and its member states, as the other party (below referred to as the Agreement), which was concluded on June 30, 2019, in Hanoi, Vietnam. The Agreement’s full text in English and Vietnamese is provided in the Appendix to this Resolution.

Article 2.Application of the treaty

1. To directly apply the whole contents of the Agreement, except Clauses 2, 3, 4 and 5, Article 3.57 of Chapter 3.

2. To promulgate the Government’s Resolution on recognition and enforcement in Vietnam of awards of investment dispute settlement agencies under the Agreement in order to implement Clauses 2, 3, 4 and 5, Article 3.57, Chapter 3 of the Agreement.

Article 3.Organization of implementation of the treaty

1. The Government, Supreme People’s Court, Supreme People’s Procuracy and related agencies and organizations shall, within the ambit of their competence, review relevant legal documents before making timely amendments or supplementations or promulgating new ones or requesting competent agencies to do so, ensuring uniformity and consistency of the legal system, effective implementation and compliance with the schedule of commitments in the Agreement.

2. The Prime Minister shall organize the implementation of the Agreement; approve and direct related central and local agencies and organizations in implementing the plan on implementation of the Agreement; prepare resources to ensure the utilization and promotion of opportunities and advantages brought about by the Agreement; devise and effectively implement measures to prevent and address adverse impacts that might arise in the course of implementation of the Agreement and minimize disputes with investors to which the Vietnamese side is the respondent; promptly and fully propagandize and disseminate the contents of the Agreement in order to create unanimity in awareness and action of the political system, businesses and people; regularly review and evaluate implementation results and effectiveness of the commitments in the Agreement, and annually report on the implementation of the Agreement to the National Assembly.

3. The Government shall direct related ministries and sectors in completing external affairs procedures for ratification of the Agreement and notify the date the Agreement becomes effective in Vietnam.

Article 4.Oversight of implementation of the Resolution

The National Assembly, National Assembly Standing Committee, Committee for Ethnic Affairs, National Assembly Committees, delegations and deputies shall, within the ambit of their tasks and powers, oversee the implementation of this Resolution.

This Resolution was passed on June 8, 2020, by the XIV^th National Assembly of the Socialist Republic of Vietnam at its 9^th session.-

Chairwoman of the National Assembly
NGUYEN THI KIM NGAN