Q&A on Asian Bus.

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Can foreign companies choose to enter into contracts based on foreign law?

  • FAQ: VIETNAM
  • Date: 15.07.2010

Article 5 of the  Commercial Law  provides that parties to a commercial transaction involving foreign elements may agree to choose foreign laws, international commercial practices to apply, provided that the application is not contrary to the basic principles of Vietnamese law.

Article 5 of the  Investment Law  also provides that foreign investors invested in Vietnam on a contractual basis (either or not with Vietnamese partner) may choose foreign laws, international practices in investment to apply, provided that the application is not contrary to the basic principles of Vietnamese law.

For more details, see Asia Business Guide , [VIT ¶70-013] Choice of applicable law