Staff writer, with CNATaiwan and Vietnam have signed a new version of a bilateral investment agreement (BIA) to provide better protection for Taiwanese investors in the Southeast Asian nation, the Ministry of Economic Affairs said. The BIA was signed on Wednesday by Representative to Vietnam Richard Shih (石瑞琦) and Vietnam Economic and Cultural Office in Taipei Director Nguyen Anh Dung. The new pact has an investor-to-state dispute settlement mechanism to facilitate negotiations between Taiwanese investors and the Vietnamese government. If the disputes cannot be resolved in six months, they would be able to resort to international arbitration. When Taiwanese investors encounter investment obstacles, the Taiwanese government would also be able to negotiate with its Vietnamese counterpart for assistance in removing the hurdles, the ministry said.

Source: Taipei Times December 19, 2019 15:56 UTC