Business cooperation contracts signed between Vietnamese inventors are executed in accordance with civil laws

Article 28. Investment under business cooperation contracts

bookkeeping-vinasc31. Business cooperation contracts signed between Vietnamese inventors are executed in accordance with civil laws.

2. Procedures for issuance of Certificates of investment registration in Article 37 of this Law shall apply to business cooperation contracts signed between a Vietnamese investor with a foreign investor, or between foreign investors.

3. Parties to a business cooperation contract shall establish a steering board to execute BBC. Functions, tasks, powers of the steering board shall be agreed by the parties.

Article 29. Contents of a business cooperation contract

1. A business cooperation contract shall contain:

a) Names, addresses, authorized representatives of parties to the contract; business address or project address;

b) Objectives and scope of business;

c) Contributions by parties to the contract and distribution of profits;

d) Schedule and duration of the contract;

d) Rights and obligations of parties to the contract;

e) Adjustment, transfer, termination of contracts;

g) Responsibilities for breaches of contract; method of dispute settlement.

2. During the execution of a business cooperation contract, parties may reach an agreement on using assets derived from the business cooperation to establish a company in accordance with regulations of law on companies.

3. Parties to a business cooperation contract may reach other agreements that do not contravene law.

Section 2: PROCEDURES FOR DECISION ON INVESTMENT POLICIES

Article 30. The National Assembly’s authority to issue decisions on investment policies

Except for the projects subject to issuance of decisions on investment policies by the National Assembly according to regulations of law on public investment, the National Assembly shall issue decisions on investment policies of the following projects:

bookkeeping-vinasc11. Projects that have significant effects on the environment or potentially have seriously affect the environment, including:

a) Nuclear power plants;

b) Projects that change purposes of land in national parks, wildlife sanctuaries, landscape sanctuaries, experimental forests of 50 hectares or larger; headwaters protective forests of 50 hectares or larger; protection forests meant for protection against wind, sand, waves, land reclamation, environmental protection of 500 hectares or larger, production forests of 1,000 hectares or above;

2. Projects that change purposes of land meant for rice cultivation with two or more crops of 500 hectares or larger;

3. Projects that require relocation of 20,000 people or more in highlands; 50,000 people or more in other areas;

4. Projects that require special policies decided by the National Assembly.