Signing of Japan-Viet Nam Investment Agreement

November 14, 2003

The Agreement between Japan and the Socialist Republic of Viet Nam for the Liberalization, Promotion and Protection of Investment (hereinafter referred to as "the Agreement") was signed on Friday, November 14, between Ms. Yoriko Kawaguchi, Minister for Foreign Affairs of Japan, and Mr. Vo Hong Phuc, Minister of Planning and Investment of Viet Nam.
The Agreement, in principle, guarantees national treatment and most-favored-nation treatment to the investors and their investments of both countries at the stage of pre-investment, and prohibits the respective authorities from imposing so-called "performance requirement" to provide the rules in terms of liberalization, promotion and protection of investment in a comprehensive manner. The Agreement is expected to contribute to creating a more transparent and favorable environment for the investors in each country and thereby even further reinforcing their bilateral economic relationship.

(END)