[Photo caption: Ms Chau Ta, President of AusCham at the MOU Signing Ceremony in Vinh City, 19 February 2017.]

On 19 February 2017, Ms Chau Ta (President of AusCham) signed an historic Memorandum of Understanding between the Nghe An’s People’s Committee and AusCham.

The Signing Ceremony was held as part of Ngeh An’s annual Meeting with Investors Forum, hosted by the People’s Committee, in Vinh City.

The MOU is reproduced below.

**************

MEMORANDUM OF UNDERSTANDING

FOR COOPERATION BETWEEN

PEOPLE’S COMMITTEE OF NGHE AN PROVINCE OF THE SOCIALIST REPUBLIC OF VIET NAM) AND

THE AUSTRALIAN CHAMBER OF COMMERCE IN VIET NAM (AusCham)

The People’s Committee of Nghe An Province of the Socialist Republic of Viet Nam and the Australian Chamber of Commerce in Viet Nam (hereinafter referred to as Parties) have decided to sign this MOU in order to intensify the existing cooperation and to foster economic partnership.

ARTICLE 1

PURPOSE OF COOPERATION

The purpose of this MOU is to establish, develop and maintain the relationship between the parties in order to enhance the understanding and support the other in promoting investment and trade between Nghe An province and Australia.

ARTICLE 2

SCOPE AND RESPONSIBILITIES

In order to achieve the purpose, set out above, the parties agree to cooperate in the following manner:

1. Nghe An Province:

  • Promote AusCham members in finding opportunities for cooperation, investment and trade in Nghe An.
  • Supporting and enabling AusCham members to access suitable land for development and investment and to assist in any necessary land clearance and compensation.
  • Directing the other related departments and agencies to create the most favorable conditions to carry out procedures for investment registration in Nghe An.
  • Creating conditions for the AusCham members to achieve the investment incentives that the Government of Vietnam has prescribed.
  • Continuing the implementation of the administrative reform, applying preferential policies, supporting the investment and providing the most favorable conditions for AusCham members and business partners in Nghe An.

2. AusCham

  • Supporting Nghe An Province to organize seminars/conferences to explore investment cooperation opportunities between AusCham and Nghe An Province in Vinh City in 2017 (being the side conference to the APEC conference)
  • Advising and supporting Nghe An province in choosing suitable location/venue for the promotion of investments into Nghe An Province and business-to-business match making events to be held in Australia in 2017.
  • Supporting Nghe An Province in organizing other events alongside with the 2017 APEC Conference to be held in in Nghe An
  • Supporting and welcoming Nghe An Province in attending important events organized by AusCham relating to investment cooperation with local governments and businesses.
  • Advising Nghe An People’s Committee in making and implementing policies with the view to providing the most favorable conditions for investment for AusCham Members.

3. Both parties encourage the business exchanges through seminars, conferences and investment missions through visiting and working together to create more investment opportunities.

ARTICLE 3

EFFECT

This MOU takes effect after signing by both parties and will be valid for a period of five (05) years. It can be amended with the consent of both parties.

This MOU was created in Nghe An Province on 19 February 2017, in two (02) copies in each of the English and Vietnamese language. Each side will keep one (01) copy of each language version.

 

On behalf of The People’s Committee of Nghe An Province of the Socialist Republic of Viet Nam,

Mr Le Ngoc Ha
Vice President

 

On behalf of the Australian Chamber of Commerce in Viet Nam (AusCham),

Ta Thi Tuyet Chau
President

****

Related items