Page:United States Statutes at Large Volume 115 Part 3.djvu/705

 PROCLAMATION 7449—JUNE 8, 2001 115 STAT. 2779 4.1 Requirements on investment capital: (a) Aftertheentry into force of this Agreement, nationals or companies of the United Stales shall be allowed to contribute, increase and reinvest capital in any cuirency, including Vietnamese currency originatingfromany lawful activity in Vietnam (b) The following requirements may be maintained for up to 3 yearsfromthe entry imo force of this Agreement: (i) Nationals or companies of the United States must contribute at least 30% of the legal capital of a joint venture unless a lower contribution is approved bythe investment licensing agencies; (ii) The le^l capital of a US -owned enterprise shall not be less than 30% of investment capital unless a lower proportion is approved by the investment licensing agencies, (iii) Anationalorcompany of the United States that is a party to ajoint venture with a Vietnamese national or company shall give arightof first refiisal to the Vietnamese party with respect to the transfer of an interest in the joint venture An enterprise in Vietnam thai is 100%owned by US nationals or companies shall give a right of first refiisal to Vietnamese nationals or companies with respect to the transfer of any interest in the enterprise In any such case, therightof first refusal may be exercised only if the offer of the Vietnamese national or company is the same in all material terms with an offer receivedfromany third party, -. •• •-"i including with respect to purchase price, timing and method ofpayment Any such transfer shall require the approval of the investment licensing agencies, and (iv) Nationals or companies of (he United States are not yet allowed to establish a joint slock company. An enterprise in Vietnam that is invested or owned by U S nationals or companies may not issue bonds or shares to the public in Vietnam (c) Nationals and companies of the United States shall notbepermiltcd to acquire more than 30% of the shares of an equitized State enterprise 4 2 Organization and management ofjoint ventures Vietnam may maintain the following requirements for up to 3 yearsfromthe entryintoforce of this Agreement •m- j^ 89-194O-03- 23 QL3Part3

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