Kazakh Parliament ratifies Agreement with Vietnam on Promotion and Mutual Protection of Investments

ASTANA. KAZINFORM - The Senate of the Parliament of the Republic of Kazakhstan at the plenary session has adopted the Law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Socialist Republic of Vietnam on promotion and mutual protection of investments''.
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As mentioned by the Minister of Economy and Budget Planning of RK Erbolat Dosssayev, the Agreement, signed during the official visit of Prime Minister of Vietnam in Kazakhstan on 15th September 2009, is aimed at improving the investment climate in respect of mutual investments.

The Agreement provides for the payment of compensation under investor expropriation and nationalization of its investments by the state of the other party without delay, within the period stipulated by the legislation of the state of the recipient. Compensation shall include interest at a commercial rate established on a market basis from the date of expropriation before the date of payment.

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