Vietnam: First Time In History – Government Procurement Tender Decisions Will Be Subject To International Arbitration And Investments Subject To Investor State Dispute Settlement And Enforcement

24 April, 2017:Vietnam is one of the countries with the highest ratio of public investment to GDP on the world (i.e., 39% annually from 1995). However, Vietnam has not agreed to coverage of their government procurement by the Government Procurement Agreement of the WTO (GPA). Indeed, Vietnam for the first time has undertaken to do so in a recent Free Trade Agreement with the EU (EVFTA). The EVFTA on Government Procurement mainly deals with the requirement to treat EU bidders or domestic bidders with EU investment capital…