THE GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 78/2006/ND-CP
Hanoi, August 09, 2006
 
DECREE
PROVIDING FOR OFFSHORE DIRECT INVESTMENT
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the November 29, 2005 Investment Law;
At the proposal of the Minister of Planning and Investment,
DECREES:
Chapter I
GENERAL PROVISIONS
Article 1.- Regulation scope
1. This Decree provides for offshore direct investment activities of investors in Vietnam.
2. Offshore direct investment activities in oil and gas domains and some particular domains or in particular investment areas shall comply with the specific regulations of the Government.
3. Where a treaty to which Vietnam is a contracting party contains provisions different from the provisions of this Decree, the provisions of such treaty shall apply.
Article 2.- Subjects of application
Investors in Vietnam (hereinafter called investors) include:
1. Limited liability companies, joint-stock companies, partnerships and private enterprises, which have been granted business registration certificates under the Enterprise Law.
2. Enterprises established under the State Enterprise Law, which have not yet been re-registered under the Enterprise Law.
3. Foreign-invested enterprises established under the Foreign Investment Law, which have not yet been re-registered under the Enterprise Law and the Investment Law.
4. Enterprises of political organizations or socio-political organizations, which have not yet been re-registered under the Enterprise Law.
5. Cooperatives, unions of cooperatives, which are established under the Cooperative Law.
6. Medical, educational, scientific, cultural or sport service establishments/institutions and other service establishments conducting profitable investment activities.
7. Vietnamese business households and individuals.
Article 3.- Interpretation of terms
In this Decree, the terms below are construed as follows:
1. Offshore direct investment means the transfer of investment capital to foreign countries by investors so as to carry out investment activities and directly participate in the management of such investment activities in foreign countries.
2. Overseas economic organizations mean economic organizations established or registering business in foreign countries according to laws of the investment-receiving countries in order to conduct offshore investment activities, where investors partially or fully own the investment capital.
3. Valid dossiers mean dossiers with complete papers and declarations compliant with the provisions of law.
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