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THE NATIONAL
ASSEMBLY
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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Resolution No.
113/2020/QH14
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Hanoi, June 18,
2020
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RESOLUTION
ON RECOGNITION AND
ENFOCEMENT IN VIETNAM OF FINAL AWARDS OF THE DISPUTE SETTLEMENT BODY UNDER
EU-VIETNAM INVESTMENT PROTECTION AGREEMENT
THE NATIONAL ASSEMBLY
Pursuant to the Constitution of Socialist
Republic of Vietnam;
Pursuant to the Law on International Treaties
No. 108/2016/QH13;
Pursuant to Resolution No. 103/2020/QH14 dated
June 8, 2020 of the National Assembly on ratification of EU-Vietnam Investment
Protection Agreement (EVIPA);
At the request of the President in Proposal No.
02/TTr-CTN dated April 18, 2020 on ratification of EU-Vietnam Investment
Protection Agreement (EVIPA);
At the request of the Government in the Proposal
No. 277/TTr-CP dated June 4, 2020 on the bill of Resolution of the National
Assembly on recognition and enforcement in Vietnam of final awards of the
dispute settlement body under EU-Vietnam investment protection agreement;
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RESOLVES THAT:
Article 1. Scope
This Resolution sets forth recognition and
enforcement in Vietnam of final awards as to financial obligations issued by
the dispute settlement body (hereinafter referred to as Awards) as prescribed
in Section B Chapter 3 of EU-Vietnam Investment Protection Agreement
(hereinafter referred to as Agreement).
Article 2. Recognition and enforcement of Awards
1. Awards issued within 5
years following the date of entry into force of this Agreement, or a longer
period determined by the Committee, established under Article 4.1 of the
Agreement, where Vietnam is the respondent, shall be considered as foreign
arbitral awards. Competent courts of Vietnam shall apply the Civil Procedure
Code concerning procedures for recognition and enforcement in Vietnam of
arbitral awards in accordance with the New York Convention of 1958 on the
Recognition and Enforcement of Foreign Arbitral Awards in order to consider
whether or not recognize and enforce Awards where Vietnam is the respondent.
2. An Award issued after the
time specified in paragraph 1 of this Article where Vietnam is a respondent
shall be recognized as a legally effective judgment of the court of Vietnam.
The People’s Courts of province or central-affiliated city where the property
of the Award debtor is located shall issue a decision on recognition and
enforcement of the Award in the territory of Vietnam upon a request of the
Award creditor.
3. As of the date of entry
into force of the Agreement, Awards issued where the Union or its Member State
is a respondent shall be recognized as legally effective judgments of the court
of Vietnam. The People’s Courts of province or central-affiliated city where
the property of the Award debtor is located shall issue a decision on
recognition and enforcement of the Award in the territory of Vietnam upon a
request of the Award creditor.
4. Awards as provided for in
this Article shall be enforced in accordance with civil judgment enforcement.
Article 3. Implementation
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2. The Ministry of Foreign
Affairs shall notify the Supreme People’s Court in a timely manner of the
expiry of a period in paragraph 1 Article 2 of this Resolution.
Article 4. Entry into force
This Resolution shall comes into force as of the
date of entry into force of this Agreement.
This Resolution is ratified by the
14th National Assembly of Socialist Republic of Vietnam during the
9th session on June 18, 2020.
PRESIDENT OF
THE NATIONAL ASSEMBLY
Nguyen Thi Kim Ngan