|
|
| |
Decree
No. 06/ND-CP, 6 March/2000 of the Government on Investment
Co-operation With Foreign Entities in the Fields of Medical
Examination and Treatment of Diseases, Education and Training,
and Scientific Research |
| |
Decree
No. 07/NQ-CP, 5 June 2000 of the Government On the
Building and Development of the Software Industry
During the Period 2000 2005 |
| |
Decree
No. 10/ND-CP, 23 January 1998 of The Government on
A Number Of Encouragement and Guarantee Measures for Foreign
Direct Investment Activities in Vietnam. |
| |
Decree
No. 12/CP, 18 February 1997 of the Government on Setting
Forth Detailed Regulations for Implementing The Law on
Foreign Investment in Vietnam |
| |
Decree
No. 24/ND-CP, 31 July 2000 of the Government on Regulating
in detail the implementation of the Law on Foreign Investment
("FIL") in Vietnam |
| |
Decree
No. 36/CP, 24 April 1997 of the Government on Industrial
Zones, Export Processing Zones and High-Tech Zones |
|
|
| |
Decree
No. 02/ND-CP, 15 August 2000 of the Government on
Investment in The Basis of Build-Operate-Transfer Contracts,
Build-Transfer Contracts Applicable to Foreign Investment
in Vietnam |
| |
Circular
No. 02/TT-NH7,
18 February 1997 of the Government on regulating details
in implementing the Law on foreign investment in VN,
the state bank of Vietnam issues the guideline in foreign
exchange control of foreign invested enterprises and
foreign parties of business cooperation contracts. |
| |
Decree
No. 62/ND-CP, 15 August 2000 of the Government on
Promulgating The Regulations on Investment in The Basis
of Build-Operate-Transfer Contracts, Build-Transfer-Operate
Contracts and Build-Transfer Contracts Applicable to
Foreign Investment in Vietnam. |
| |
Decree
No.45/2000/ND-CP: DECREE OF THE GOVERNMENT
Setting Forth Regulations on Representative Offices
and Branches in Vietnam of Foreign Merchants and Foreign
Tourism Enterprises
Decision
No.128/2000/QN-TTg:DECISION
OF THE PRIME MINISTER OF THE GOVERNMENT
On a number of policies and measures to stimulate investment
And development of the software industry |
| |
Decision
No.21/2001/QD-UB:
DECISION OF THE CHAIRMAN OF THE CITY PEOPLE'S
COMMITTEE
Regarding
a number of preferential policies and measures for encouraging
investments in Quang Trung Software Park
|
|
|
|
THE GOVERNMENT SOCIALIST REPUBLIC OF VIETNAM
Independence Freedom Happiness
--------- * ---------
|
DECREE NO 02
|
REGULATIONS
ON INVESTMENT ON THE BASIS
OF BUILD-OPERATE-TRANSFER CONTRACTS, BUILD-TRANSFER CONTRACTS
APPLICABLE TO FOREIGN INVESTMENT IN VIETNAM.
(Issued
with Decree 62-1998-ND-CP of the Government dated 15 August
1998)
|
CHAPTER I
GENERAL
PROVISIONS
>>
Article 1
In these Regulations
the following terms shall have the meanings ascribed to
them hereunder
| 1 |
"Build-Operate-Transfer
contact"(abbreviated in English as BTO) means
a written document entered into by an authorized
State body of Vietnam and a foreign investor(s)
for the construction and commercial operation of
an infrastructure facility (including expansion,
upgrading, and modernization thereof) for a certain
duration in order to recover the invested capital
and earn reasonable profits, upon the expiry of
such duration, the foreign investor(s) shall, without
compensation, transfer the facility to the State
of Vietnam. |
| 2 |
"Build-Transfer-Operate
contract"(abbreviated in English as BTO) mean
a written document entered into by an authorized
State body of Vietnam and a foreign investor(s)
for the construction of an infrastructure facility
(including expansion, upgrading, and modernization
thereof) upon the completion of which the foreign
investor shall transfer the facility to the State
of Vietnam. The Government of Vietnam shall grant
the investor(s) the right to commercially operate
the facility for a certain duration in order to
recover the invested capital and earn reasonable
profits. |
| 3 |
"Build-Transfer
contract" (abbreviated in English as BT) means
a written document entered into by an authorized
State body of Vietnam and a foreign investor(s)
for the construction of an infrastructure facility
(including expansion, upgrading, and mordernization
thereof) upon the completion of which the foreign
investor(s) shall transfer the facility to the State
of Vietnam .The Government of Vietnam shall facilitate
for the foreign investor(s) in the implementation
of other project(s) in order to recover the invested
capital and earn reasonable profits. |
| 4 |
"BOT
enterprise", "BTO" or "BT enterprise"
(hereinafter referred to as BOT enterprise) means
a joint venture enterprise or an enterprise with
100% foreign owned capital established in accordance
with the Law on foreign Investment in Vietnam
for the purpose of implementing a BOT, BTO or BT
contract. |
| 5 |
"State
body authorized to enter into a BOT, BTO or BT contract"(hereinafter
referred to as authorized State body) means any
ministry or government body or any peoples committee
of a province or city under central authority, which
is appointed by the Prime Minister to enter into
and perform a BOT, BTO or BT contract with a foreign
investor(s). |
| 6 |
"Foreign
investor(s) entering into a BOT, BTO or BT contract"
means any foreign organization or individual performing
a BOT, BTO or BT contract (hereinafter referred
to as foreign investor) and being fully responsible
for their undertaking under the BOT, BTO or BT contracts. |
| 7 |
"Sub-contractor"
means any Vietnamese or foreign contractor who enters
into a contract with a BOT enterprise in order to
carry out each part of a BOT, BTO or BT project. |
| 8 |
"Sub-contract"
means any contract entered into by a BOT enterprise
and a sub-contractor to implement each part of a
BOT, BTO or BT project. |
| 9 |
"Other
project(s)" means any project(s) attached to
a BT contract which the foreign investor is to perform
in accordance with the Law on Foreign Investment
in Vietnam for the purpose of recovering the
capital invested in such BT project. |
|
>>
Article 2
| 1 |
The Government
of Vietnam encourages foreign organization and individuals
to carry out investment on the basis of BOT, BTO and BT
contracts in the fields of transportation production and
sales of electricity, water supply and drainage, waste treatment,
and other areas as determined by the Prime Minister of the
Government |
| 2 |
The Government
of Vietnam protects the ownership of invested capital and
other legitimate interests of foreign organizations and
individuals carrying out investment on the basis of BOT,
BTO and BT contracts and at the same time creates favorable
conditions and simple and rapid procedures for the implementation
of these project. |
| 3 |
The Government
shall grant preferential treatment to BOT enterprises and
SUB-contractors in accordance with the provisions of chapter
II of these Regulations |
>> Article
3
| 1 |
For the purpose
of carrying out a BOT, BTO, or BT project, foreign investor(s)
establishes a BOT enterprise. |
| 2 |
A BOT enterprise
shall be established and shall commence operation from the
date of issuance of the investment license, and shall be
responsible for complying with the provisions of the investment
license and the undertakings made by the investor(s) in
the BOT, BTO or BT contract. |
CHAPTER II
PREFRENTIAL
TREATMENTS AND INVESTMENT GUARANTEES
>> Article
4
| 1 |
BOT enterprises shall be subject to the following taxes:
| |
The profits
tax rate of 10% (ten per cent) of the Profits earned
shall apply for the whole duration of implementation
of a project; |
| |
Exemption
from profits tax shall be granted for four year
commencing from the time when the operations start
to earn profits and a fifty (5o) per cent reduction
shall be granted for the four subsequent year. In
cases of investment in areas where investment is
from the time when the operations start to earn
profits. |
| |
The duration
for exemption from or reduction of taxes shall be
continuously counted foam the first year of profitable
operations |
| |
Withholding
tax rate shall be five (5) per cent of the profits
remitted abroad. |
| |
In addition
to the above-mentioned taxes, BOT enterprises shall
pay other taxes in accordance with the laws of Vietnam. |
|
| 2 |
Foreign
sub-contractors participating in BOT, BTO and BT projects
shall pay taxes and shall be entitled to incentives in relation
to exemption from and reduction of taxes in accordance with
current provisions applicable to foreign contractors. |
Vietnamese sub-contractors participating in BOT, BTO a BT
projects shall fulfill tax obligations in accordance with
the current regulations applicable to Vietnamese enterprises. |
>> Article
5
| 1 |
BOT enterprises
and sub-contractors shall be exempted from import duties
for the purpose of carrying out BOT, BTO, and BT projects
in respect of the following:
| |
Equipment
and machinery imported for the purpose of framing
fixed assets (including equipment, machinery and
spare parts used for survey, design and contraction
of works) |
| |
Specialized
means of transportation included in a technological
process imported for the purpose of forming fixed
assets and means of transportation used to transport
workers (vehicles with 24 or more seats, and watercraft); |
| |
Components,
small parts, accessories, spare parts, attachments,
moulds, kits accompanying the above-mentioned equipment,
machinery, specialized and other means of transportation
referred to in this article including those used
for replacement, warranty or maintenance during
the operation the projects; |
| |
Fuel,
raw material and supplies imported for the implementation
of BOT, BOT and BT projects, including fuel, raw
materials and supplies required for production
or operation of projects.
|
|
| 2 |
The exemption
from import duties in respect of the above-mentioned equipment,
machinery, means of transportation, raw materials and supplies
applicable to the expansion of the scale of a project or
change or renovation of technology. |
| 3 |
The imported goods
referred to in clauses 1 and 2 of this article shall not
be permitted to be disposed or be sold in Vietnam. Where
these goods are disposed or sold in the Vietnamese market,
an approval of the Ministry of Trade must be obtained and
the applicable import duties, turnover tax or special sales
tax shall be paid in accordance with the laws of Vietnam. |
| 4 |
In cases of implementation
of other projects attached to a BT contract, import and
payment of import duties shall be carried out in accordance
with article 63 of Decree 12-CP of the Government dated
18 February 1997 Marking Detailed Provisions on the Implementation
of the Law on Foreign Investment in Vietnam and article
10 of Decree 10-1998-ND-CP dated 23 January 1998 of the
Government and Guarantee of Foreign Direct Investment in
Vietnam. |
| 5 |
Objects of industrial
property currently under protection, technical know - hows,
technological processes and technical services required
for implementation of projects shall be exempted from payment
of taxes relating to technology transfer. |
>>
Article 6
| 1 |
Any assignment
of capital within a BOT enterprise shall be carried out
in accordance with article 34 of the Law on Foreign Investment
in Vietnam and article 64 of Decree 12-CP of the Government
dated 18 February 1997 Marking Detailed Provisions on the
Implementation of the Law on Foreign Investment in Vietnam. |
| 2 |
The assignment
of capital shall only take effect upon approval of the capital
assignment contract by the authorized State body and the
investment license issuing body |
>>
Article 7
| 1 |
BOT enterprise
and sub-contractors shall be entitled to open foreign currency
account(s), Vietnamese currency account(s) and loan account(s)
in accordance with article 71 of Decree 12-Cp of the Government
dated 18 February 1997 Marking Detailed Provisions on the
Implementation of the Law on Foreign Investment in Vietnam
and relevant legal instrument in relation to foreign exchange
control. |
| 2 |
The State Bank
of Vietnam assures the conversion of Vietnamese dong earned
by BOT enterprises through the implementation of BOT, BTO
and other projects into foreign currency in order to meet
the requirements for business operation, repayment of principals
and payment of interest on loan, and remittance of profits
and capital abroad. |
BOT enterprises are entitled to use lawful income in Vietnamese
Dong derived from the implementation of BOT, BTO and BT
projects to purchase goods for export or for processing
for direct export in accordance with the regulations of
the Ministry of Trade in order to generate foreign currency
sources to meet the requirements for business operations
of BOT enterprises. |
>>
Article 8
| 1 |
During
the implementation of a projects, a BOT enterprise shall
be permitted to pledge or mortgage the following assets
in accordance with the laws of Vietnam:
| a. |
Equipment,
plant, architectural works and real estate properties
which have been purchased or constructed with the
invested capital of the BOT enterprise |
| b. |
Other
assets owned by the BOT enterprise |
| c. |
Value
of the land use right in accordance with the laws
of Vietnam; |
| d. |
Property
rights of the BOT enterprise |
|
| 2 |
Any pledge or
mortgage by a BOT enterprise must be approved by the authorized
State body, shall not be prejudicial to the implementation
of the objectives, time schedule and operation of the project
as stipulated in the contract and shall be in accordance
with the laws of Vietnam. |
| 3 |
Deeds of mortgage
and pledge must be made in accordance with the laws of Vietnam
and copies thereof must be sent to the authorized State
body. |
>>
Article 9
| 1 |
The Government
shall assure that BOT enterprise are permitted to use land,
roads and other public support facilities for the implementation
of BOT, BTO and BT projects |
| 2 |
BOT enterprises
shall be exempted from payment of land rent for the duration
of implementation of projects |
| 3 |
Peoples committees
of provinces and cities under central authority where investment
projects are located shall be responsible for marking compensation,
carrying out site clearance and completing the procedures
for allocation of land to BOT enterprises in a accordance
with the laws and within the undertaken time limit. |
All costs of compensation and site clearance shall be paid
by investor(s) and included in total invested capital, unless
otherwise stipulated in the BOT, BTO or BT contract. |
>>
Article 10
| 1 |
Vietnamese enterprises
shall participate in BOT,BTO and BT projects to approval
of the authorized State body |
| 2 |
Where necessary,
the Government shall, depending on the nature of each project,
delegate the authorized State by to act on behalf of the
Government as a guarantor for the fulfillment of undertakings
relating to financial obligations by Vietnamese enterprises
participating in the implementation of the project as defined
in the a BOT, BTO or BT contract and for the obligation
of Vietnamese enterprises with respect to sale of raw materials
and purchase of main products or services for the purpose
of carry out o BOT, BTO or BT contract. |
>>
Article 11
| During the implementation
of project, all organizations and individuals shall comply
with applicable regulations on foreign exchange control,
export and import, technology transfer, environment, labor
relations, accounting, statistics, entry and exit and other
relevant provisions of the laws of Vietnam |
CHAPTER III
METHODS
OF IMPLEMENTATION OF BOT, BTO AND BT PROJECTS
>>
Article 12
| 1 |
Based on the planning
and orientation of social and economic development in each
period, the Ministry of Planning and Investment shall be
responsible for co-ordination with ministries ,sectors add
peoples committees of provinces and cities under central
authority to submit to the Prime Minister for approval the
list of investment projects on the basis of BOT,BTO and
BT contracts |
| 2 |
The Prime Minister
may approve BOT,BTO and BT contracts not included in the
published list after consulting relevant ministries, sectors,
and peoples committees of provinces and cities under central
authority where those project are proposed to be implemented |
| 3 |
nvestment projects
on the basis of a BOT,BTO ,or BT contract which are submitted
to the Prime Minister as stipulated in clauses 1 and 2 of
this article shall specify the necessity ,location ;designed
capacity, size of proposed invested capital, and recommendations
on the authorized State bodies and methods of selection
of foreign investor(s to enter into a BTO,BTO or BT contract |
>>
Article 13
| 1 |
Based on the approved
list of BOT, BTO and BT projects and method of selection
of foreign investor(s) to enter into a BOT, BTO or BT contract,
the authorized State body shall direct the preparation of
a pre-feasibility study which shall be used as a basis for
preparation of files for selection of foreign investors.
The authorized State body shall consider and approve the
pre-feasibility study.
The costs of preparation
of the pre-feasibility study shall be covered by the approved
budge of the authorized State body as stipulated .If the
project is implemented, the costs of preparation of the
pre-feasibility study shall be charged to the invested
capital of the project and the BOT enterprise shall be
responsible for refunding same to the State Budget.
|
| 2 |
Foreign investors
shall prepare and submit per-feasibility studies of the
BOT, BTO or BT projects referred to in clause 2 of article
12 to the authorized State body for consideration and approval.
Where pare-feasibility study is adopted by the authorized
State body, foreign investor(s) shall be permitted to prepare
and submit an application file for an investment license |
>>
Article 14
| 1 |
Procedures and
methods of selection of foreign investor(s) to enter into
BOT,BTO or BT contracts shall be carried out in accordance
with the laws of Vietnam in relation to tendering |
| 2 |
The results of
the selection of foreign investor(s) to enter into a BOT,
BOT or BT contract must be approved by the Prime Minister
of the Government |
>> Article 15
| 1 |
Upon approval
of the selection of foreign investor (s) to enter into a
BOT, BTO or BT contract by the Prime Minister, the selected
foreign investor (s) shall prepare a feasibility study,
which shall be submitted to the authorized State body |
| 2 |
The authorized
State body shall co-ordinate with relevant ministries, sectors
and peoples committees of provinces and cities under central
authority in the consideration and approval of feasibility
studies. In the case where there is any difference in opinions
or issue beyond its authority, the Prime Minister of the
Government for decision. |
>>
Article 16
| 1 |
The authorized
State body shall be responsible for negotiating and entering
into a BOT,BTO or BT contract with the selected foreign
investor(s) .With respect to important projects decided
by the Government, the authorized State body shall be responsible
for submitting principles serving as the basis for negotiating
and entering into a BOT,BTO or BT contract to the Government
for approval |
| 2 |
A draft BOT, BTO
or BT contract, after being negotiated, agreed and initialed
by parties, together with other documents relating to the
application for an investment license shall be submitted
to the Ministry of Planning and Investment for evaluation
and submission to the Prime Minister for consideration and
decision. A BOT, BTO or BT contract shall only be officially
signed upon the approval of the Prime Minister |
>>
Article 17
| 1 |
An
application file for an investment license shall comprise:
| |
Application
for investment |
| |
Initialed
BOT, BTO or BT contract |
| |
Joint
venture contract (in the case where the BOT enterprise
is a joint venture enterprise) |
| |
Charter
of the BOT enterprise; |
| |
Feasibility
study |
| |
Initialed
contracts or hears of agreement on purchase of materials
or sale of products (if any) |
| |
Documents
evidencing the legal status and financial standing
of investors |
|
| 2 |
In addition to
the above with respect to BT projects documents regarding
other projects as required by applicable regulations shall
also be submitted |
| 3 |
A BOT, BTO or
BT contract and contracts for purchase of material or sale
of products (if any ) shall be sent to the Ministry of Planning
and Investment after being officially signed |
>>
Article 18
| 1 |
The
Ministry of Planning and Investment shall issue an investment
license to a BOT,BTO or BT project within a period of fifteen
(150 days from the date on which the Prime Minister Approves
the BOT,
BTO or BT project |
| 2 |
The
investment license shall conditions of the following main
issues:
| |
Main terms
and conditions of the contract; |
| |
Amount
of invested capital, objectives and duration of
operation of the project |
| |
Requirements
of design, technical conditions and conditions for
normal operation of the project upon being transferred
to the State of Vietnam |
| |
Financial
and tax obligations; |
| |
Right
to use land and support- facilities |
| |
Conditions
regarding environmental protection |
| |
Principles
for determining and adjusting prices and other charges |
| |
Provisions
on the conversion of Vietnamese currency into foreign
currencies; |
| |
Importation
or exportation of equipment, machinery and goods |
| |
Right
and conditions for operating the projects with respect
to BOT, BTO, projects for operating other projects
with respect to BT project. |
| |
Main principles
for evaluation of assets upon transfer; |
| |
Undertakings
of the Government and relevant State bodies; |
|
>>
Article 19
| 1 |
Bot enterprises
shall prepare and submit a technical design to the authorized
State body
The authorized State body shall be responsible for co-ordination
with the Ministry of Construction and relevant ministries,
sectors and peoples committees of provinces and cities
under central authority to carry out evaluation of technical
design of projects prior to implementation.
Upon approval of the technical design of a project, the
BOT enterprise shall be permitted to commence construction
of the project |
| 2 |
Investor(s)
and BOT enterprise shall be entitled to select sub-contractors
or open a tender in order to implement BOT,
BTO
or BT project and shall be responsible for submitting a
report on the selection of tenders or the tendering results
to the authorized State body |
| 3 |
After signing
subcontracts with BOT enterprises, sub-contractors must
register their operations with the authorized State body |
>>
Article 20
| 1 |
The principles
for determining prices, rates, fees and other charges of
BOT and BTO project must be provided for in BOT and BTO
contracts. |
| 2 |
Increases in prices,
fees and other charges must be agreed and provided for in
BOT or BTO contracts. Any changes in prices or fees or other
charger shall be subject to a 30-day notice to the authorized
State body. |
Any changes in prices, fees or other charges other than
those contemplated and agreed in contracts shall be subject
to the authorized State body prior to implementation |
>>
Article 21
| 1 |
The duration of
a BOT,BTO or BT contract, the time limit for transfer of
a BOT,BTO or BT project and the duration of operation of
a BTO project shall be agreed upon by the parties and parties
and specified in the Investment License in accordance with
the laws in relation to foreign investment in Vietnam |
| 2 |
Upon the expiry
of the duration of operation of a BOT project, the foreign
investor(s) shall transfer the project to the State of Vietnam
without compensation. With respect to a BTO or BT project,
the foreign investor(s) transfer the project the State of
Vietnam in accordance with the term and conditions stipulated
in the BOT or BT contract upon completion of construction. |
| 3 |
The complement
state body shall take over BOT, BTO, or BT project transfer
accordance with article 22 and 23 of these Regulation. |
>>
Article 22
Upon
transfer of project to the state of Vietnam. The authorized
state body and BOT enterprises must check again the terms
and condition stipulated in the investment license and the
BOT, BTO or BT project. The file for hand over of the project
shall contain the following main issues:
| - |
The condition
of the project upon transfer, |
| - |
The list
of assets transferred. Including documents relating
to surveys designs, construction, installation,
operation, maintenance and management of the project. |
| - |
The written
report on evaluation of the value and quantity of
the project transferred. |
| - |
The responsible
of the parties for the continued operation of the
project transferred. |
| - |
The duration,
condition for maintenance and warranty of the project
after being transferred. |
Other necessary contracts
and conditions for the maintenance and operation of the
project after being transferred.
|
>>
Article 23
| Before a BOT,
BTO or BT project is transferred, the BOT enterprises must
carry out any maintenance, repair and necessary technical
activities to transfer the projects as agreed in the BOT,
BTO or BT contract.
The authorized State body
shall only take over the project in accordance with the
terms and conditions stipulated in the BOT, BTO or BT
contract and the investment license.
|
CHAPTER IV
BOT,
BTO AND BT CONTRACTS AND SUB CONTRACTS
>>
Article 24
| 1 |
A
BOT,BTO or BT contracts shall contain the following contain:
| |
Nationalities,
address and authorized representatives of the contracts; |
| |
Objectives
and scope of operations; |
| |
Investment
capital , schedule of implement; |
| |
Capacity
, technology and equipment; requirement for designs
and technical standard of the project; quality standard
and control and supervisions of the quality of the
project |
| |
Provisions
regarding environment protection; |
| |
Terms
and conditions relating to the use of land infrastructure
and support facilities necessary for construction
and operation; |
| |
Schedule
for construction of the project, the duration of
operation of the BOT enterprises and the time upon
which the project shall be transferred; |
| |
Right
and obligations of the parties ; undertaking to
provide guaranty and to share risk between two parties; |
| |
Provision
regarding price, fees and other charges; |
|
Obligation
to maintain normal operations of the project; |
|
Consultancy
and evaluation of design, equipment, construction,
acceptance , operation, and maintenance; |
|
Technical
conditions, status of operation, quality of the
project upon transfer; principles used for determination
of the value of the project and order of the transfer
of the project; |
|
Validity
of the contract circumstance of early termination
of the contract; provisions regarding assignment
of the contract; |
|
Body and
method of resolution of disputes between parties
to the contract; distribution of risks between the
BOT company and government body; |
|
Dealing
with breaches by the parties causing failure to
perform the term and condition of the contract. |
|
Event
of Fore majeure and principles of remedy; |
|
Provision
regarding the assistance and undertakings of the
government; |
|
Conditions
for implement of other projects in the case of the
BT contract |
|
| 2 |
For purpose of
carrying out a BOT, BTO or BT project, a BOT enterprises
may enter into contracts for land use, construction installation,
of machinery, equipment, consultancy service, inspection,
purchase of materials, sale of main products and service,
provision of technical service, loans. Pledge or mortgage
of assets and other contracts in accordance with the law
of Vietnam |
| 3 |
Where there is
no provisions in the law of Vietnam governing the relations
relating to investment on the basic of a BOT, BTO or BT
contract, the parties may agree in the contract upon the
application of foreign law provided that such agreement
shall not be contrary to the provision of the laws of Vietnam. |
>>
Article 25
| 1 |
Any
disputes between the authorized State body and foreign investor(s)
arising during the implementation of the BOT, BT or BT contract
shall be firstly resolved through negotiation and conciliation.
Should such dispute fail to be disputes through negotiation
and conciliation, the parties can have the disputes resolved
by an arbitration tribunal establish by agreement of the
parties. The arbitration procedures and laws applicable
to the resolution of disputes shall be agreed upon by the
disputing parties in the contract. |
| 2 |
Any
disputes between the parties in a BOT enterprise arising
during the implementation of the contract should be resolved
in accordance with clause 1 of article 102 of decree 12-CP
of the Government dated 18 December 1997 .Making detail
provisions for the implementation of the on foreign investment
in Vietnam; |
| 3 |
Any
disputes between a BOT enterprise and any foreign organization
or individual arising during the implementation of the contract
shall be firstly resolved through negotiation and conciliation.
Where the disputing parties fail to negotiate or reconcile,
the parties may agree to refer the dispute to a Vietnam
Arbitration organization or an arbitration tribunal established
by agreement of the parties or an arbitration tribunal,
which is established and operates in third country.
Disputes between a BOT enterprise
and any Vietnamese economic organization arising during
the implementation of the contract shall be resolved in
accordance with clause 2 of article 102 of decree 12-CP
of the government dated 18 February 1997 Making detail
provision on the implementation of the
law on foreign investment of Vietnam.
|
| 4 |
The
enforcement of arbitration decision shall be carried out
in accordance with the law of Vietnam or international treaties
to which the Socialist republic of Vietnam is a party or
signatory |
CHAPTER V
RIGHTS
AND OBLIGATIONS
OF THE AUTHORIZED STATE BODY
>>
Article 26
The authorized
State body shall have the following powers
| |
To determine
economic and technical targets of projects and to
organize the consideration and approval of pre-feasibility
studies |
| |
To negotiates,
agree and decide the contents of BOT, BTO and BT
contracts; |
| |
To co-ordinate
with the Ministry of Construction, other ministries,
sectors and peoples committees of provinces and
cities under central authority in the consideration
and evaluation of technical designs of projects; |
| |
To organizes
the supervision of construction and participates
in the acceptance of quality of construction works
during the course of construction; |
| |
To approve
contracts for purchase of materials and sale of
main products and services signed by BOT Enterprises
and Vietnamese specialized economic organizations
in cases where these contracts require a guarantee
as referred to in clause 2 of article 10 of these
Regulations; |
| |
To supervises
the parties in the performance of their obligations
undertaken in BOT, BTO and BT contracts and sub-contracts; |
| |
To take
over the project transferred as stipulated |
|
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Article 27
The authorized
State body shall have the following responsibilities:
| |
To provide
support to foreign investors in the preparation
and implementation of BOT, BTO and BT projects; |
| |
To provide
support to BOT enterprises in the completion of
procedures for preparation for investment, construction
and operation (if any) in accordance with BOT,
BTO and BT contracts and sub-contracts, |
| |
To assume
the responsibility for or to co-ordinate with
other State bodies in the consideration and resolution
of legitimate requirements of BOT enterprises
during the implementation of BOT, BTO and BT projects. |
| |
To performs
the obligations undertaken in BOT, BTO and BT
contracts. |
| |
To perform
other duties related to the management and administration
of actives under BOT, BTO and BT projects in accordance
with law |
|
>>
| |
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