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2022 Vietnamese J. Legal Sciences 1 (2022)

handle is hein.journals/vemsjl2022 and id is 1 raw text is: S sciendo Vietnamese Journal of Legal Sciences, Vol. 06, No. 01, 2022, pp. 01-18 DOI: 10.2478/vjls-2022-0001 1 VIETNAM'S COMMITMENTS UNDER THE EUROPEAN UNION - VIETNAM INVESTMENT PROTECTION AGREEMENT (EVIPA): SOME NOTEWORTHY POINTS HA THI THANH BINH Commercial Law Faculty, Ho Chi Minh City University of Law Email: httbinh@hcmulaw.edu.vn Abstract The Investment Protection Agreement among Vietnam, the European Union (EU) and each of the EU's member states (EVIPA) was signed by Vietnam and the EU on June 30, 2019, in Ha Noi. While the Free Trade Agreement between Vietnam and the EU (EVFTA) promotes trade liberalization between Vietnam and EU countries, EVIPA establishes legal safeguards for outward investment activities ofinvestors from EU countries into Vietnam and vice versa. The EVIPA has not yet come into effect as it needs to be approved not only by the EU Council and the National Assembly of Vietnam, but also by the Parliaments of all EU's member states. Even so, with the EVFTA in place, Vietnam hopes to attract more investment from the EU as Vietnam has committed to provide investors from the EU with certain protection some of which have not been available in any other investment protection agreements to which Vietnam is a party. Investors with EU nationalities undoubtedly are interested in how Vietnam could implement its commitments under the EVIPA. The paper discusses key commitments of Vietnam under the EV IPA along the lines of relevant provisions of Vietnam law and addresses some noteworthy points for investors from the EU planning to invest in Vietnam. It argues that understanding how domestic law and regulations facilitate international commitments would help investors from the EU prepare for their investments in Vietnam. Keywords: E VIPA, investment protection, foreign investment, investment dispute, expropriation Introduction The Investment Protection Agreement among Vietnam, the European Union (EU) and each of the EU member states (EVIPA) and the Free Trade Agreement between Vietnam and the EU (EVFTA) were simultaneously signed by the representatives of the Vietnamese government and the EU on June 30, 2019. Even though the EVFTA and the EVIPA were initially negotiated as a single text, they were executed separately because the provisions on investment protection in the EVIPA (which are different from provisions on free trade in

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