Luận văn thạc sĩ tiếng anh

TABLE OF CONTENTS ACKNOWLEDGEMENTS i ABBREVIATIONS ii FIGURE, TABLE AND BOX iii ABSTRACT iv Chapter INTRODUCTION Chapter OVERVIEW OF FDI INCENTIVES AND PROTECTIONS IN INTERNATIONAL INVESTMENT AGREEMENTS 2.1 Overview of International Investment Agreements 2.1.1 The role of FDI and FDI attraction determinants 2.1.1.1 FDI and world economy development 2.1.1.2 FDI determinants 2.1.2 The proliferation of IIAs as a key FDI determinant 12 2.1.2.1 Bilateral investment agreements 14 2.1.2.2 Regional and interregional investment agreements 15 2.1.2.3 Multilateral agreement on investment 16 2.2 MIAs as a fundamental basis for investment incentive and protection 17 2.3 FDI incentives and protections commitments in MIAs 23 2.3.1 The role of investment incentives and protections 24 2.3.2 FDI incentives in MIAs 27 2.3.3 FDI protections in MIAs 30 Chapter COMMITMENTS RELATING FDI INCENTIVES AND PROTECTIONS IN TPP 34 3.1 Overview of TPP and the Investment Chapter 34 3.1.1 Summary of the Trans-Pacific Partnership Agreement 34 3.1.2 Key content of the Investment chapter 36 3.2 FDI incentives and protections commitments in TPP 38 3.2.1 Providing non-discrimination treatment 38 3.2.2 Providing fair and equitable treatment (minimum standard of treatment) 44 3.2.3 Ensuring expropriation for a public purpose with fully compensation 47 3.2.4 Allowing for transfer of funds 51 3.2.5 Providing Investor - State dispute settlement mechanism 53 3.2.6 FDI incentives commitments in TPP 57 3.3 TPP investment commitments in comparison with MIAs 58 Chapter VIETNAM’S INVESTMENT LEGISLATION AND COMMITMENTS UNDER TPP INVESTMENT CHAPTER 61 4.1 Overview of Vietnam's investment legal framework 61 4.1.1 FDI entry 62 4.1.2 FDI establishment 65 4.1.3 FDI treatments 67 4.1.3.1 FDI protections 67 4.1.3.2 FDI incentives 68 4.2 The compatibility between Vietnam's legal framework and TPP investment commitments 69 4.2.1 TPP investment commitments that Vietnam's legal framework have been compatible with 70 4.2.2 TPP investment commitments that Vietnam's legal framework have partly or not compatible with 73 4.3 Effects of TPP investment incentives and protections commitments on Vietnam legislation 76 Chapter INTERNATIONAL EXPERIENCES AND IMPLICATIONS FOR VIETNAM INVESTMENT LEGAL FRAMEWORK 80 5.1 International experiences in implementing TPP 81 5.1.1 Preparation of TPP member countries for implementing the agreement 81 5.1.1.1 Malaysia 81 5.1.1.2 Singapore 82 5.1.1.3 United States 83 5.1.2 Options for harmonizing TPP and national legal framework 85 5.1.2.1 Keeping default condition 85 5.1.2.2 Reform the domestic legal system 85 5.1.2.3 No International Investment Agreement 86 5.2 Implications for Vietnam's investment legal framework 87 5.2.1 Promoting the coherence between TPP’s investment chapter and domestic investment legal framework 87 5.2.2 Balancing private and public interests within investment commitments 90 5.2.3 Effects of the TPP – the case of Vietnam’s Pharmaceutical Industry, a further implication 92 CONCLUSIONS 95 REFERENCES 97 ANNEX i ACKNOWLEDGEMENTS Firstly, I would like to express my deepest appreciation and thanks to my mentor, Dr Tran Thi Ngoc Quyen for precious guidance, comments and suggestions This paper is one of the last compulsory elements of Master of International Trade Policy and Law program at the Foreign Trade University The objective of this study is to find out the suitable way for Vietnam to successfully implement the TPP Investment chapter through reforming domestic law and policy and take advantages of FDI in the context of pursuing sustainable development I hope it can be applied to a practical situation I would like to assure that the research of “Commitments related to Foreign Direct Investment Incentives and Protections under the Trans-Pacific Partnership and Implications for Vietnam” was carried out by me All contents, tables, figures and boxes illustrated in this study are honest, accurate and quoted from a reliable source Hanoi City, December, 2016 i ABBREVIATIONS APEC Asia-PacifIc Economic Cooperation BIT Bilateral Investment Treaty FET Fair And Equitable Treatment FIE Foreign Invested Enterprise FTA Free Trade Agreement GATS General Agreement On Trade In Services IIA International Investment Agreement ICSID International Centre For Settlement Of Investment Disputes ISDS Investor–State Dispute Settlement LDC Least Developed Country LLDC Landlocked Developing Country M&As Mergers And Acquisitions MFN Most Favoured Nation MNE Multinational Enterprise NAFTA North American Free Trade Agreement RCEP Regional Comprehensive Economic Partnership TNC Trans-National Company TTIP Transatlantic Trade And Investment Partnership TIP Treaty With Investment Provision TPP Trans-Pacifc Partnership Agreement UNCITRAL United Nations Commission On International Trade Law USTR United States Trade Representative WTO World Trade Organization ii FIGURE, TABLE AND BOX Page Table 1: World FDI flows, 2013-2015, billions of dollars …6 Table 2: Key investment protections of Investment treaties …30 Table 3: Summarizing the coherence of Vietnam investment legislation and TPP investment incentives and protections commitments …76 Figure 1: Trends in IIAs signed, 1980 – 2015 …13 Box 1: FDI in Vietnam economy …8 Box 2: Vietnam’s BITs signed, 1996-2016 …15 Box 3: Results of Vietnam’s investment attraction policy …27 Box 4: Case analysis on investment protection dispute …56 Box 5: ISDS cases show conflict between public interest and investors’ interest …91 iii ABSTRACT Apart from the economic determinants, macroeconomic and policy stability have been found to be one of the most important foreign direct investment (FDI) determinants It is necessary to carefully analyzing the relation between the TransPacific Partnership (TPP) as a multi-regional free trade agreement with investment provisions and Vietnam domestic investment legislation and environment My dissertation addresses the main questions of what is the nature and effect of commitments related to FDI incentives and protections under the TPP in comparison with Vietnam legal framework and how the Vietnamese goverment can act affirmatively to improve investment legislation of Vietnam thereby take advantage and limit the disadvantage of those commitments Some recently researches discussed about the general benefits of TPP on Vietnamese economy and particularly on several sectors such as livestock farming, textile and garment or automobile industry This dissertation goes deep into the study of the interrelation between the TPP’s investment chapter and the investment climate in Vietnam It also reveals the burden of risk in investor – state dispute settlement, which actually could reverse the fundamental “polluter pays” principle The dissertation conclude with a discussion of how the Vietnamese government can to make domestic invesment legislation compatible with commitments in TPP while still balancing private-public interest iv Chapter INTRODUCTION 1.1 Background and rational On October 5th 2015, the Trans-Pacific Partnership agreement was signed in principle It’s a new generation trade agreement, including twelve countries from two side of the great Pacific Ocean (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, US and Vietnam) According to a number of researches on the impacts of TPP on its members, Vietnam seems to be the country that gain most economic benefit It is estimated that in one decade, Vietnam’s GDP will increase by 11% and exports will rise by 28% with a 50% increase in apparel and textile Vietnam will have opportunities to access new markets to which it does not yet have access to However, many obstacles will also arise After years of global integration, it is shown that Vietnam depends much on low-value added products export and foreign direct investment As the country continues its strategy to deeper international integration, Vietnam really need to make fundamental changes in economic institution, mechanism and management policies, especially in investment policy When Vietnam joined the WTO, many experts expected an “economic explosion” would occur With high incentives for foreign investors, exports and foreign investment increased But enormous foreign capital flowing into Vietnam caused inflationary while many Vietnamese enterprises still not able to adapt with major changes in terms of trade and business competitiveness This opened an era called “after-WTO” and warned us of how we should deal with these free trade agreements It is necessary to overcome obstacles that come from those ambitious investment-trade agreements by promoting the attractiveness of country while avoiding negative effect of investment commitments The attractiveness of the host country would be greatly enhanced by a combination of three sets of FDI determinants: (i) economic determinants; (ii) the policy framework for FDI; and (iii) business facilitation (UNCTAD 1998, p 91) As the world economy becomes more open to international business transactions, countries compete increasingly for FDI not only by implementing business facilitation measures, but also by improving their policy and economic determinants Regarding the policy framework determinants, policy makers have considered various incentive and protection policies to attract FDI, and to ensure its consistency with the domestic economic development objectives Apart from the other determinants, policy framework for investment may be the most important FDI determinants It is necessary to carefully exploring the relation between free trade agreement with investment provisions and the domestic investment legislation and environment As Vietnam laws and regulations become more enabling for foreign investors and converge in key aspects, foreign investors increasingly put a premium on such features as policy coherence, transparency, predictability and stability Besides, the Investor-State Dispute Settlement (ISDS) process, by which private companies can sue foreign governments over loss of opportunity to make money, is the major concern that should be brought up first The reasons lead to dispute are often government policy that base on public interest - such as environmental protection, health and food regulations, and policy that supports local economies, workers, and domestic financial institutions Though it is undeniable to say that ISDS increases the level of stability of the host country’s business environment and depoliticises disputes by making sure they are decided on legal basis, this TPP deal will punish our government with lawsuits for implementing measures to address climate change, for maintaining and expanding our national healthcare system, for standing strong in regulations for food and products, for explicitly supporting local business and workers, and for protecting our financial system so that it is stable against global shocks This research explain that the threat of being sued over these things will keep the government from being able to make good policy, resulting in a public interest policy chill 1.2 Literature review and objectives of the research Recently researches mention about the impact of TPP on Vietnamese economy or mention the change of Vietnam investment legislation, but in general For example: Lê Hồng Hiệp, “The TPP’s Impact on Vietnam: A Preliminary Assessment” (2015) provides a preliminary assessment of the impact of economic, political, and strategic potential of the TPP for Vietnam It argues that Vietnam may gain significantly in terms of GDP growth, export performance and FDI inflow In the long term, the economy will also benefit if further legal, institutional and administrative reforms are undertaken along with improvements in the state-owned and private sectors Politically, immediate impacts will be limited, but the country may become more open and conducive to further liberalization in the long run In strategic terms, the agreement will help the country improve its strategic position, especially vis-à-vis China in the South China Sea, although such an impact is not imminent and should not be exaggerated Doãn Thị Phương Anh (2016) indicates some prospects of economic benefit for TPP’s members and implications for Vietnamese government and enterprises to take advantage; Trần Việt Dũng, Recent development of the Vietnamese investment framework – a preparation for AEC and future integration (2016) only indicates key issues of the current Vietnamese investment legal framework (such as new definitions of foreign investor, economic organization with foreign investment capital – FIE, incorporation of FIE, acquisition of capital/shares, etc) in the context of doing business, the background of the AEC and AEC’s investment in Vietnam There’s a gap for an analysis of issues arise from the Investment chapter (chapter 9) of TPP related to foreign direct investment incentives and protections, which can help Vietnam promote itself as an attractive FDI destination and also will create a number of challenges in the implementation of the chapter in terms of legal framework, transparency and protectionist measures The main purposes of this research is assessing potential impact of the Investment Chapter on the business environment in Vietnam and point out fundamental changes in legal framework that Vietnamese government has to implement to comply with the commitments it has made It is sure that TPP (if ratified by all member countries) will improve national investment policy and help attracting more FDI to developing countries It may contribute to the coherence, transparency, predictability and stability of the investment frameworks of host countries The problem is, there is no detailed document analyzes the level of compatibility of Vietnam investment framework and the investment provisions under TPP investment chapter, neither negative impact on the legislation of the country and also which investment regulation Vietnam has to amend to comply with TPP Thus, it is necessary to analysis and review Vietnam's investment legislations against TPP commitments to clarify differences and make amendments of Vietnam's legal From this, recommendations are made to guarantee the conformity to the TPP in the most beneficial ways for parties 1.3 Research Questions For the scope and scale of this research to be answered, the research questions are formulated as following: - What types of investment incentives and protections are there in international investment agreements? - What is the meaning of commitments related to foreign direct investment incentives and protections under the Trans-Pacific Partnership? - What is the compatibility level between Vietnam investment incentive and protection provisions and TPP Investment chapter and how they will affect present business environment, rules and regulation in investment legislation of Vietnam? - How can Vietnamese government make changes to domestic investment legal framework to take advantage and limit the disadvantage of those commitments? 1.4 Methodology The research approach of this study is qualitative research to make a primarily theoretical dissertation The methodology including selection and discussion of theoretical material and descriptive material, publication research, law research and case review, include both present and historical information, and detailed comparison of regulations, theories in terms of their applicability The study attempting to uncover the deeper meaning and effect of TPP investment incentives and protections commitments and experiences in implementing international investment treatments 1.5 Structure of the dissertation The research questions systematize thesis into chapters: Chapter “Introduction”; Chapter “Overview of FDI incentives and protection in International Investment Agreements” introduces the background of FDI and FDI incentives and protections in international investment agreement Chapter “Commitments relating FDI incentives and protection in TPP” will give details about content of FDI incentives and protections commitments and comparing with standard multilateral investment agreement; Chapter “Vietnam’s investment legislation and TPP” analyzes the compatibility between Vietnam investment incentive and protection provisions and TPP Investment chapter and the effect of those commitments on country’s investment environment and legal framework Lastly, Chapter “Recommendation on Vietnam's investment law and policy” review the international experiences in implementing the TPP and point out recommendations for Vietnam to fully complying with TPP Investment chapter and avoiding negative impact of it on the country REFERENCES 1) Allen&Overy, Investment Law and Enterprise Law Amendments in Vietnam, available at: http://www.allenovery.com/publications/en-gb/Pages/Investment-Lawamendment-in-Vietnam.aspx, accessed in 12/2016 2) Allens, Focus: The investment chapter of the 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ANNEX ANNEX 1: Summary of TPP chapter Below is a summary of the most important chapters of TPP Schedules and annexes are attached to the chapters of the Agreement related to goods and services trade, investment, government procurement, and temporary entry of business persons In addition, the State-Owned Enterprises chapter includes country-specific exceptions in annexes Chapter Initial Provisions and General Definitions Many TPP Parties have existing agreements with one another The Initial Provisions and General Definitions Chapter recognizes that the TPP can coexist with other international trade agreements between the Parties, including the WTO Agreement, bilateral, and regional agreements It also provides definitions of terms used in more than one chapter of the Agreement Chapter Trade in Goods TPP Parties agree to eliminate and reduce tariffs and non-tariff barriers on industrial goods, and to eliminate or reduce tariffs and other restrictive policies on agricultural goods Most tariff elimination in industrial goods will be implemented immediately, although tariffs on some products will be eliminated over longer timeframes as agreed by the TPP Parties The specific tariff cuts agreed by the TPP Parties are included in schedules covering all goods The TPP Parties will publish all tariffs and other information related to goods trade to ensure that small- and mediumsized businesses as well as large companies can take advantage of the TPP They also agree not to use performance requirements, which are conditions such as local production requirements that some countries impose on companies in order for them to obtain tariff benefits In addition, they agree not to impose WTO-inconsistent import and export restrictions and duties, including on remanufactured goods – which will promote recycling of parts into new products If TPP Parties maintain import or export license requirements, they will notify each other about the procedures so as to increase transparency and facilitate trade flows On agricultural products, the Parties will eliminate or reduce tariffs and other restrictive policies, which will increase agricultural trade in the region, and enhance food security Chapter Textiles and Apparel The TPP Parties agree to eliminate tariffs on textiles and apparel, industries which are important contributors to economic growth in several TPP Parties’ markets Most tariffs will be eliminated immediately, although tariffs on some sensitive products will be eliminated over longer timeframes as agreed by the TPP Parties The chapter also includes specific rules of origin that require use of yarns and fabrics from i the TPP region, which will promote regional supply chains and investment in this sector, with a “short supply list” mechanism that allows use of certain yarns and fabrics not widely available in the region Chapter Rules of Origin To provide simple rules of origin, promote regional supply chains, and help ensure the TPP countries rather than non-participants are the primary beneficiaries of the Agreement, the 12 Parties have agreed on a single set of rules of origin that define whether a particular good is “originating” and therefore eligible to receive TPP preferential tariff benefits The product-specific rules of origin are attached to the text of the Agreement The TPP provides for “accumulation,” so that in general, inputs from one TPP Party are treated the same as materials from any other TPP Party, if used to produce a product in any TPP Party The TPP Parties also have set rules that ensure businesses can easily operate across the TPP region, by creating a common TPP-wide system of showing and verifying that goods made in the TPP meet the rules of origin Importers will be able to claim preferential tariff treatment as long as they have the documentation to support their claim In addition, the chapter provides the competent authorities with the procedures to verify claims appropriately Chapter Technical Barriers to Trade (TBT) In developing TBT rules, the TPP Parties have agreed on transparent, nondiscriminatory rules for developing technical regulations, standards and conformity assessment procedures, while preserving TPP Parties’ ability to fulfill legitimate objectives They agree to cooperate to ensure that technical regulations and standards not create unnecessary barriers to trade To reduce costs for TPP businesses, especially small businesses, TPP Parties agree to rules that will facilitate the acceptance of the results of conformity assessment procedures from the conformity assessment bodies in the other TPP Parties, making it easier for companies to access TPP markets Under the TPP, Parties are required to allow for the public to comment on proposed technical regulations, standards, and conformity assessment procedures to inform their regulatory processes and to ensure traders understand the rules they will need to follow Chapter Investment In establishing investment rules, the TPP Parties set out rules requiring nondiscriminatory investment policies and protections that assure basic rule of law protections, while protecting the ability of Parties’ governments to achieve legitimate public policy objectives TPP provides the basic investment protections found in other investment-related agreements, including national treatment; most-favored-nation treatment; “minimum standard of treatment” for investments in accordance with customary international law principles; prohibition of expropriation that is not for ii public purpose, without due process, or without compensation; prohibition on “performance requirements” such as local content or technology localization requirements; free transfer of funds related to an investment, subject to exceptions in the TPP to ensure that governments retain the flexibility to manage volatile capital flows, including through non-discriminatory temporary safeguard measures (such as capital controls) restricting investment-related transfers in the context of a balance of payments crisis or the threat thereof, and certain other economic crises or to protect the integrity and stability of the financial system; and freedom to appoint senior management positions of any nationality TPP Parties adopt a “negative-list” basis, meaning that their markets are fully open to foreign investors, except where they have taken an exception (non-conforming measure) in one of two country-specific annexes: (1) current measures on which a Party accepts an obligation not to make its measures more restrictive in the future and to bind any future liberalization, and (2) measures and policies on which a Party retains full discretion in the future The chapter also provides for neutral and transparent international arbitration of investment disputes, with strong safeguards to prevent abusive and frivolous claims and ensure the right of governments to regulate in the public interest, including on health, safety, and environmental protection The procedural safeguards include: transparent arbitral proceedings, amicus curiae submissions, non-disputing Party submissions; expedited review of frivolous claims and possible award of attorneys’ fees; review procedure for an interim award; binding joint interpretations by TPP Parties; time limits on bringing a claim; and rules to prevent a claimant pursuing the same claim in parallel proceedings Chapter 10 Cross-Border Trade in Services Given the growing importance of services trade to TPP Parties, the 12 countries share an interest in liberalized trade in this area TPP includes core obligations found in the WTO and other trade agreements: national treatment; most-favoured nation treatment; market access, which provides that no TPP country may impose quantitative restrictions on the supply of services (e.g., a limit on the number of suppliers or number of transactions) or require a specific type of legal entity or joint venture; and local presence, which means that no country may require a supplier from another country to establish an office or affiliate, or to be resident, in its territory in order to supply a service TPP Parties accept these obligations on a “negative-list basis,” meaning that their markets are fully open to services suppliers from TPP countries, except where they have taken an exception (non-conforming measure) Chapter 18 Intellectual Property The chapter establishes standards for patents, based on the WTO’s TRIPS iii Agreement and international best practices On trademarks, it provides protections of brand names and other signs that businesses and individuals use to distinguish their products in the marketplace The chapter also requires certain transparency and due process safeguards with respect to the protection of new geographical indications, including for geographical indications recognized or protected through international agreements In copyright, the IP chapter establishes commitments requiring protection for works, performances, and phonograms such as songs, movies, books, and software, and includes effective and balanced provisions on technological protection measures and rights management information In addition, the chapter contains pharmaceutical-related provisions that facilitate both the development of innovative, life-saving medicines and the availability of generic medicines, taking into account the time that various Parties may need to meet these standards The chapter includes commitments relating to the protection of undisclosed test and other data submitted to obtain marketing approval of a new pharmaceutical or agricultural chemicals product Chapter 19 Labour TPP Parties agree to adopt and maintain in their laws and practices the fundamental labour rights as recognized in the ILO 1998 Declaration, namely freedom of association and the right to collective bargaining; elimination of forced labour; abolition of child labour and a prohibition on the worst forms of child labour; and elimination of discrimination in employment They also agree to have laws governing minimum wages, hours of work, and occupational safety and health These commitments also apply to export processing zones The commitments in the chapter are subject to the dispute settlement procedures laid out in the Dispute Settlement chapter Chapter 24 Small- and Medium-Sized Enterprises TPP Parties have a shared interest in promoting the participation of small- and medium-sized enterprises in trade and to ensure that small- and medium-sized enterprises share in the benefits of the TPP Complementing the commitments throughout other chapters of the TPP on market access, paperwork reduction, Internet access, trade facilitation, express delivery and others, the Small- and Medium-Sized Enterprise chapter includes commitments by each TPP Party to create a user-friendly websites targeted at small- and medium-sized enterprise users to provide easily accessible information on the TPP and ways small firms can take advantage of it In addition, the chapter establishes a Small- and Medium-Sized Enterprises Committee that will meet regularly to review how well the TPP is serving small- and mediumsized enterprises iv Chapter 26 Transparency and Anti-Corruption Under the Transparency and Anti-Corruption chapter, TPP Parties need to ensure that their laws, regulations, and administrative rulings of general application with respect to any matter covered by the TPP are publicly available and that, to the extent possible, regulations that are likely to affect trade or investment between the Parties are subject to notice and comment TPP Parties agree to ensure certain due process rights for TPP stakeholders in connection with administrative proceedings, including prompt review through impartial judicial or administrative tribunals or procedures They also agree to adopt or maintain laws criminalising offering to, or solicitation of, undue advantages by a public official, as well as other acts of corruption affecting international trade or investment Parties also commit to effectively enforce their anticorruption laws and regulations Commitments in this annex are not subject to dispute settlement procedures Chapter 28 Dispute Settlement The Dispute Settlement chapter is intended to allow Parties to expeditiously address disputes between them over implementation of the TPP TPP Parties will make every attempt to resolve disputes through cooperation and consultation and encourage the use of alternative dispute resolution mechanisms when appropriate When this is not possible, TPP Parties aim to have these disputes resolved through impartial, unbiased panels The dispute settlement mechanism created in this chapter applies across the TPP, with few specific exceptions The public in each TPP Party will be able to follow proceedings, since submissions made in disputes will be made available to the public, hearings will be open to the public unless the disputing Parties otherwise agree, and the final report presented by panels will also be made available to the public Panels will consider requests from non-governmental entities located in the territory of any disputing Party to provide written views regarding the dispute to panels during dispute settlement proceedings Should consultations fail to resolve an issue, Parties may request establishment of a panel, which would be established within 60 days after the date of receipt of a request for consultations or 30 days after the date of receipt of a request related to perishable goods Panels will be composed of three international trade and subject matter experts independent of the disputing Parties, with procedures available to ensure that a panel can be composed even if a Party fails to appoint a panelist within a set period of time These panelists will be subject to a code of conduct to ensure the integrity of the dispute settlement mechanism They will present an initial report to the disputing Parties within 150 days after the last panelist is appointed or 120 days in cases of urgency, such as cases related to perishable goods The initial report will be confidential, to enable Parties to offer comments The final report must be presented no later than 30 days after the presentation of the initial report and must be made v public within 15 days, subject to the protection of any confidential information in the report To maximize compliance, the Dispute Settlement chapter allows for the use of trade retaliation (e.g., suspension of benefits), if a Party found not to have complied with its obligations fails to bring itself into compliance with its obligations Before use of trade retaliation, a Party found in violation can negotiate or arbitrate a reasonable period of time in which to remedy the breach Chapter 29 Exceptions The Exceptions Chapter ensures that flexibilities are available to all TPP Parties that guarantee full rights to regulate in the public interest, including for a Party’s essential security interest and other public welfare reasons This chapter incorporates the general exceptions provided for in Article XX of the General Agreement on Tariffs and Trade 1994 to the goods trade-related provisions, specifying that nothing in the TPP shall be construed to prevent the adoption or enforcement by a Party of measures necessary to, among other things, protect public morals, protect human, animal or plant life or health, protect intellectual property, enforce measures relating to products of prison labour, and measures relating to conservation of exhaustible natural resources The chapter also contains the similar general exceptions provided for in Article XIV of the General Agreement on Trade in Services with respect to the services traderelated provisions The chapter includes a self-judging exception, applicable to the entire TPP, which makes clear that a Party may take any measure it considers necessary for the protection of its essential security interests It also defines the circumstances and conditions under which a Party may impose temporary safeguard measures (such as capital controls) restricting transfers – such as contributions to capital, transfers of profits and dividends, payments of interest or royalties, and payments under a contract – related to covered investments vi ANNEX 2: Vietnam signed BITs and TIPs BITs No Partners Status Date of signature Date of entry into force Algeria Signed (not in force) 21/10/1996 Argentina In force 03/06/1996 01/06/1997 Armenia In force 01/02/1993 28/04/1993 Australia In force 05/03/1991 11/09/1991 Austria In force 27/03/1995 01/10/1996 Bangladesh Signed (not in force) 01/05/2005 Belarus In force 08/07/1992 24/11/1994 BLEU (Belgium-Luxembourg Economic Union) In force 24/01/1991 11/06/1999 Bulgaria In force 19/09/1996 15/05/1998 10 Cambodia Signed (not in force) 01/09/2001 11 Chile Signed (not in force) 16/09/1999 12 China In force 02/12/1992 01/09/1993 13 Cuba In force 12/10/1995 01/10/1996 14 Czech Republic In force 25/11/1997 09/07/1998 15 Denmark In force 23/07/1993 07/08/1994 16 Egypt In force 06/09/1997 04/03/2002 17 Estonia Signed (not in force) 24/09/2009 vii No Partners Status Date of signature Date of entry into force 18 Finland Terminated 13/09/1993 02/05/1996 19 Finland In force 21/02/2008 04/06/2009 20 France In force 26/05/1992 10/08/1994 21 Germany In force 03/04/1993 19/09/1998 22 Greece Signed (not in force) 13/10/2008 23 Hungary In force 26/08/1994 16/06/1995 24 Iceland In force 20/09/2002 10/07/2003 25 India In force 08/03/1997 01/12/1999 26 Indonesia Terminated 25/10/1991 03/04/1994 27 Iran, Islamic Republic of Signed (not in force) 23/03/2009 28 Italy In force 18/05/1990 06/05/1994 29 Japan In force 14/11/2003 19/12/2004 30 Kazakhstan In force 15/09/2009 07/04/2014 31 Korea, Dem People's Rep of Signed (not in force) 02/05/2002 32 Korea, Republic of Terminated 13/05/1993 04/09/1993 33 Korea, Republic of In force 15/09/2003 05/06/2004 34 Lao People's Democratic Republic In force 14/01/1996 23/06/1996 35 Latvia In force 06/11/1995 20/02/1996 36 Lithuania In force 27/09/1995 24/04/2003 37 Malaysia In force 21/01/1992 09/10/1992 viii No Partners Status Date of signature Date of entry into force 38 Mongolia In force 17/04/2000 39 Morocco Signed (not in force) 15/06/2012 40 Mozambique In force 16/01/2007 41 Myanmar Signed (not in force) 15/02/2000 42 Namibia Signed (not in force) 30/05/2003 43 Netherlands In force 10/03/1994 44 Oman Signed (not in force) 10/01/2011 45 Philippines In force 27/02/1992 29/01/1993 46 Poland In force 31/08/1994 24/11/1994 47 Romania In force 15/09/1994 16/08/1995 48 Russian Federation In force 16/06/1994 03/07/1996 49 Singapore In force 29/10/1992 25/12/1992 50 Slovakia In force 17/12/2009 18/08/2011 51 Spain In force 20/02/2006 29/07/2011 52 Sri Lanka Signed (not in force) 22/10/2009 53 Sweden In force 08/09/1993 02/08/1994 54 Switzerland In force 03/07/1992 03/12/1992 55 Taiwan Province of China In force 21/04/1993 23/04/1993 56 Tajikistan Signed (not in force) 19/01/1999 ix 13/12/2001 29/05/2007 01/02/1995 No Partners Status Date of signature Date of entry into force 57 Thailand In force 30/10/1991 07/02/1992 58 Turkey Signed (not in force) 15/01/2014 59 Ukraine In force 08/06/1994 60 United Arab Emirates Signed (not in force) 16/02/2009 61 United Kingdom In force 01/08/2002 01/08/2002 62 Uruguay In force 12/05/2009 09/09/2009 63 Uzbekistan In force 28/03/1996 06/03/1998 64 Venezuela, Bolivarian Republic of In force 20/11/2008 17/06/2009 Parties Date of signature 08/12/1994 TIPs No Short title TPP Australia, Brunei Darussalam, Cana da, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Sin gapore, United States of America 04/02/2016 Eurasian Economic Union - Viet Nam FTA Eurasian Economic Union 29/05/2015 Republic of Korea-Viet Nam FTA Korea, Republic of 05/05/2015 ASEAN - India Investment Agreement (2014) India 12/11/2014 x Date of entry into force 20/12/2015 EU-Vietnam Framework PCA EU (European Union) 27/06/2012 Chile-Viet Nam FTA Chile 12/11/2011 ASEAN-China Investment Agreement China 15/08/2009 01/01/2010 ASEAN-Korea Investment Agreement Korea, Republic of 02/06/2009 01/09/2009 AANZFTA Australia, New Zealand 27/02/2009 01/01/2010 10 ASEAN Comprehensive Investment Agreement (2009) 26/02/2009 29/03/2012 11 Japan-Viet Nam EPA Japan 25/12/2008 01/10/2009 12 ASEAN-Japan FTA Japan 14/04/2008 13 US-Viet Nam TIFA United States of America 21/06/2007 21/06/2007 14 ASEAN-US TIFA United States of America 25/08/2006 25/08/2006 15 ASEAN-Korea Framework Agreement Korea, Republic of 13/12/2005 01/07/2006 16 ASEAN-India Framework Agreement India 07/03/2004 01/07/2004 17 ASEAN-Japan Framework Agreement Japan 08/10/2003 08/10/2003 18 ASEAN-China Framework Agreement China 04/11/2002 01/07/2003 19 US-Viet Nam Trade Relations Agreement United States of America 13/07/2000 13/07/2000 20 ASEAN Services 15/12/1995 30/12/1998 21 EC-Vietnam Cooperation Agreement 17/07/1995 01/06/1998 EU (European Union) xi 22 ASEAN Investment Agreement (1987) 15/12/1987 23 ASEAN-EU Cooperation Agreement EU (European Union) 24 EU-Viet Nam FTA EU (European Union) 25 RCEP Australia, China, I ndia, Japan, Korea , Republic of, New Zealand xii 07/03/1980 01/10/1980 ... China Sea, although such an impact is not imminent and should not be exaggerated Doãn Thị Phương Anh (2016) indicates some prospects of economic benefit for TPP’s members and implications for Vietnamese