. /.RESTRICTEDWORLD TRADE
ORGANIZATIONWT/ACC/VNM/18
5 December 2001
(01-6200)
Working Party on the
Accession of Viet NamOriginal:  English
ACCESSION OF VIET NAM
Action Plan for the Implementation of the TRIMs Agreement
The Government of the Socialist Republic of Viet Nam has submitted the following Action
Plan for the Implementation of the Agreement on Trade-Related Investment Measures (TRIMs), with
the request that it be circulated to the members of the Working Party.
______________WT/ACC/VNM/18
Page 2Action Plan on the Implementation of the TRIMs Agreement
Action already done 2002-2003 2004-2006
Amendment of and addition to a number of articles
of the Law on Foreign Investment in Viet Nam and
other related legal documents for the followingpurposes:
- To eliminate the requirement on self- balancing
foreign currency for FDI enterprises. FDIenterprises and foreign partners to Business
Cooperation Contract (BCC) now are permitted to
buy foreign currencies from commercial banks tomeet the requirements of their current transactionsand other permitted transactions (Article 1.6, Lawon amendment of and addition to a number ofArticles of the Law on Foreign Investment in Viet
Nam, 9 June 2000);
- To eliminate regulation that requires FDI
enterprises to buy local products instead ofimported ones under the same commercialconditions. (Article 71 Decree No. 24/2000/N§-CP,
31 July 2000);
- To permit FDI enterprises to buy goods not
produced by themselves for export and processingfor export except for the goods under prohibitionlist or list of conditional export goods (Article 76Decree No. 24/2000/N§-CP, 31 July 2000);
- To permit enterprises to sell directly or through its
distributors goods legally permitted to beconsumed in Vietnamese market without limitationin terms of quantity and market. (Article 77,Decree No. 24/2000/N§-CP, 31 July 2000).- To strengthen the transparency and predictability of
the laws and localisation program by notifying the
schedule of implementation of this program to allenterprises;
- To simplify conditions and procedures for
registration to implement localisation program andfor application of preferential import tariff rates
contingent upon localisation ratios;
- To continue application of incentives for the
implementation of localisation program and thedevelopment of auxiliary industries supporting tothe above program;
- To support farmers and enterprises in their
investment in raw material areas to meet production
demand;
- To issue regulation on quality inspection of
automobile, motorcycle and spare parts inaccordance with international rules;
- To set up a system of criteria and standards of
quality, safety and environment of automobile,motorcycle and basic spare parts in accordance withinternational rules.- To narrow gradually the scope of mandatory products
subject to local content and raw material area development
program until termination of this program in 2007;
- To apply preferential import tariff rate contingent upon
localisation ratios with respect to mechanical-electric-electronics products until 31 December 2006.
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