Article 22. Entry Into Force, Duration and Termination
(1) This Agreement shall enter into force thirty (30) days after the date on which the Contracting Parties have notified each other that their constitutional requirements for the entry into force of this Agreement have been fulfilled.
(2) This Agreement shall remain in force for a period of ten (10) years and shall continue in force thereafter unless, one year before the expiry of the initial or any subsequent periods, either Contracting Party notifies the other Contracting Party in writing of its intention to terminate the Agreement.
(3) In respect of investments made prior to the termination of this Agreement, the provisions of this Agreement continue to be effective for a period of twenty (20) years from the date of termination.
(4) Upon the entry into force of the present Agreement, the Agreement between the Government of the Republic of Korea and the Government of the Socialist Republic of Vietnam for the Promotion and Protection of Investments, done at Seoul on 13 May of 1993, shall be terminated and replaced by the present Agreement.
Conclusion
IN WITNESS WHEREOF, the undersigned duly authorised thereto by their respective Governments, have signed this Agreement.
DONE in duplicate at Seoul on the 15th day of September 2003, in the Korean, Vietnamese and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
FOR THE GOVERNMENT OF THE REPUBLIC OF KOREA
FOR THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM
Attachments
Annex to the Agreement referred to Article 3(3)
Exceptions to the grant of national treatment to investments and returns of investors of the Republic of Korea
1. Sectors:
Broadcasting; television; press; published works; cinematic products; import and distribution services; telecommunication services; marine transportation of cargoes and passengers; tourism services; banking services; insurance services; exploitation of oil and gas; fisheries.
2. Matters:
2.1 Ownership and use of land and residences.
2.2 Government subsidies and support granted to domestic enterprises.
2.3 With effect from the entry into force of this Agreement, the Government of the Socialist Republic of Vietnam shall: (i) refrain from imposing new or more onerous discriminatory prices and fees; and (ii) eliminate, by 31 December 2005, discriminatory prices and fees for all goods and services including electricity and local air transport.