Foreign investors are entitled to take legal action against a State agency if they violate the regulations on business. This will put great pressure on Vietnam when managing these businesses.

CPTPP is committed to protecting foreign investors

This is a comment that has been raised by Nguyen Thi Thu Trang, Director of the WTO Center and VCCI Integration at a workshop related to the Comprehensive Partnership for Transpacific and Trans-Pacific Partnership (CPTPP).

According to Ms. Trang, in relation to the investment sector, Vietnam needs to pay special attention to cross-border trade in services. The provisions of this chapter have granted very high protection to foreign investors.

"It seems we have talked too much about the CPTPP creating a better investment environment, but forgot the nature of the commitments in the CPTPP to protect foreign investors in Vietnam. The pressure is so great for state management, because foreign businesses have the right to sue us if we do badly, "Trang said.

Sharing the viewpoint with Ms. Trang, Mr. Ngo Chung Khanh, Deputy Director of Multilateral Trade Policy Department (Ministry of Industry and Trade) also pointed out that the content of cross border trade in the CPTPP deals with four aspects. , including national treatment, most favored nation treatment, market access and local presence.

In the prescribed national treatment, host country may not treat foreign service suppliers in less favorable circumstances than domestic service providers.

The most favored nation treatment, the host country authority may not treat the service provider of a CPTPP member in similar circumstances less favorable than the service provider of another CPTPP member. or of one, any other country.

At the regulated market entry, the country does not maintain five types of market access restrictions for foreign service suppliers.

These include: limiting the number of service providers; limiting total transactions or assets; limiting the total number of service activities; Limited number of employees and limited form of establishment of enterprises.

And at the local presence, the country of residence may not require the foreign service provider to establish a representative office or form of presence in order to provide services.

"So, if you violate one of the above regulations, foreign investors have the right to sue the state agency where the business is operating," Khanh said.

On the other hand, Nguyen Thi Thu Trang also said that when Vietnam entered into a trade agreement, many experts asked the issue of attracting investment associated with technology transfer and management, but she Trang said that the agreements in general and CPTPP in particular is not a tool to help Vietnam get high technology.

"CPTPP helps us take advantage of trade opportunities, but to improve our technology, we have to rely on operational processes and policies tailored to investors and businesses." , Ms. Trang said.

Apply equality policy

The CPTPP provides foreign investors with the right to self-protection that is considered to be "negative" for Vietnam. On the one hand, the pressure on management is on the one hand, according to Nguyen Thi Thu Trang, which will make it easier for state agencies to give preferential treatment to foreign investors. focus on domestic business.

Mr. Tran Huu Huynh, Chairman of VCCI's International Trade Policy Advisory Committee, has raised the question of how to improve the quality of foreign investment in Vietnam.

As head of the Government's negotiating delegation on international economic and trade affairs, Deputy Minister of Industry and Trade Tran Quoc Khanh said that in relation to investment protection, many experts have stated that this field is sensitive. feeling.

"However, we have signed more than 30 agreements and so far CPTPP will not be much change.For control, ensure quality investment, must apply the policy of equality between investors in foreign and domestic, "Khanh said.

According to Deputy Minister of Ministry of Industry and Trade, in a field or sector, it is not possible to require foreign investors to invest in high technologies, while inferior technology is available to domestic investors. On the contrary, it is not possible to ask too high for domestic investors that "easy" for foreign investors.

"Equal, both domestic and foreign investors must enhance investment quality rather than bias," Tran Quoc Khanh said.

On the positive side, economist Vo Tri Thanh said that the commitments under the CPTPP will help Vietnam to have better investors, meet the labor standards , the environment, business institutions, and the elimination of weak, unprofessional and non-transparent investors.

Mr. Thanh also said that the strict regulations in CPTPP will create competitive pressure, promote innovation in the enterprise. "This is also an opportunity for Vietnamese enterprises to learn and connect with large enterprises.

Source http://vneconomy.vn/