RECOGNITION AND ENFORCEMENT OF JUDGMENTS UNDER THE INVESTMENT PROTECTION AGREEMENT
On June 18, 2020, the National Assembly promulgates the Resolution No. 113/2020/QH14 on the recognition and enforcement of judgments issued by Dispute Settlement Body under the Investment Protection Agreement between the Socialist Republic of Vietnam, of the one part, and the European Union and its Member States, of the other part in Vietnam.
Specifically, this Resolution prescribes the recognition and enforcement in Vietnam of judgments issued by investment Dispute Settlement Body in accordance with Section B Chapter 3 of the Investment Protection Agreement between the Socialist Republic of Vietnam, of the one part, and the European Union and its Member States, of the other part in Vietnam.
Accordingly, Judgments issued within 5 years from the Agreement’s effective date or for a longer period under decisions of the Committees established according to Article 4.1 of the Agreement for the defendant being the Socialist Republic of Vietnam shall be considered awards of foreign arbitrators.
Besides, from the Agreement’s effective date, Judgments issued for the defendant being the European Union or a member of the European Union shall be recognized as a legally valid judgment of the Vietnamese Court.
This Resolution takes effect on the effective date of the Agreement.
