Last updated: Tuesday, May 21, 2013
Please let us about contents of Vietnamese's commitments for joining into WTO that will be directly applied?Posted: Tuesday, January 09, 2007
On 29 November 2006, The National Assembly of Vietnam passed Resolution No.71/2006/QH11 ratifying the WTO Protocol on Accession of Socialist Republic of Vietnam which was signed in 07 November 2006 in Geneva, Switzerland. Attached to the Resolution is an Appendix including contents of Vietnamese’s commitments for WTO that will be directly applied. Followings are some noteworthy points in the Appendix:
1. Limited Liability Companies, Joint- Stock Companies shall be entitled to provide for in their Charters (i) the quorum rules for holding meetings and approving decisions of the Members' Council or Shareholders' Meeting; (ii) Matters under the competence of the Member Council, Shareholders’ Meeting; percentages of voting majorities necessary to make all decisions, including a simple majority of 51 per cent.
2. Foreign lawyers organization shall be permitted to practise in Vietnam in the following forms: (i) Branches; (ii) 100 per cent foreign owned capital Limited Liablity Companies, Limited Liablity Companies under joint- venture form, partnerships.
3. Insurance enterprise shall not have to reinsure part of the insured liabilities to domestic reinsurance enterprise in case of reinsuring insurance enterprises abroad.
4. Drafts of legal documents of the National Assembly, Standing Committee of the National Assembly, the Government shall be published in the Government’s website and organizations, individuals shall have at least 60 days since the date of publication to make comments/suggestions to such drafts.
5. Broardcasting organizations using published works, or sound/video recordings for broadcasting programmes shall not have to obtain permission from the owners but required to pay royalties, remuneration to the owners of copyrights and related rights. There is no limitation on the volume of films imported to Vietnam.
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