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Article 6 Stabilisation Clause

Article 6
Stabilisation Clause

 

1. During the term of validity of this Protocol, where a new legal normative document of Viet Nam that provides less favourable investment incentives than those currently enjoyed by the joint venture(s) is promulgated, Viet Nam shall ensure that the joint venture(s) keep enjoying the current incentives for the remaining period of validity of this Protocol.

2. Paragraph 1 of this Article shall not apply if a legal normative document of Viet Nam is changed for reasons of national defense and security, social order and security, public morals, public health, or environmental protection.

3. If the joint venture(s) is no longer eligible for the investment incentives due to reasons prescribed in paragraph 2 of this Article, one or some of the following solutions shall be adopted:

a. Deducting the damage actually suffered by the joint venture(s) from its (their) taxable income;

b. Adjusting the objectives of the investment project(s);

c. Assisting the joint venture(s) in recovery from damage.

4. With regard to the investment assurance measure in paragraph 3 of this Article, the authorised enterprise(s) of Russia in the joint venture(s) shall submit a written request to the Vietnamese Investment Registration Authority within three years from the effective date of the new legal normative document of Viet Nam.