Order of Application of the Investment Law and Related Laws

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According to the new regulations, our company has entered into a contract with a foreign investor. Can we agree to use foreign law, or are we required to use Vietnamese investment law?

Clause 5, Article 4 of the Law on Investment 2020 (effective from January 1, 2021) stipulates the application of the Law on Investment and related laws, specifically:

For contracts involving at least one party being a foreign investor or an economic organization specified in Clause 1, Article 23 of the Law on Investment, the parties may agree in the contract on the application of foreign laws or international investment practices if such agreement does not contravene the provisions of Vietnamese law.

Therefore, if your company signs a contract with a foreign investor, you may agree to apply foreign laws or international practices provided that such agreement does not contravene the provisions of Vietnamese law, and it is not mandatory to use Vietnamese investment law.

Respectfully!

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