Council of Ministers decisions

site.btaEU Investment Protection Agreements with Singapore and Vietnam Proposed for Ratification in Bulgaria

EU Investment Protection Agreements with Singapore and Vietnam Proposed for Ratification in Bulgaria
EU Investment Protection Agreements with Singapore and Vietnam Proposed for Ratification in Bulgaria
The Government holds a meeting (BTA Photo)

At its regular meeting Wednesday, the Government approved a proposal to the National Assembly to ratify by law the Investment Protection Agreement (IPA) between the European Union and its Member States, of the one part, and the Republic of Singapore, of the other part, signed on October 19, 2018 in Brussels, and to repeal the cabinet's Decision of February 26, 2021. 

The EU-Singapore agreement will ensure that EU investors, including from Bulgaria, and their investments in Singapore will enjoy fair and equitable treatment and will not be discriminated against compared to Singaporean investments in similar situations.

The document will also ensure a high level of investment protection, safeguarding the rights of the EU and Singapore to govern relations and pursue legitimate public policy objectives such as protecting public health, safety and the environment. 

From the date of its entry into force, the EU-Singapore IPA will replace and cancel bilateral investment treaties between Singapore and EU member states, including Bulgaria.

 The Government adopted a decision to propose to the National Assembly to ratify by law the agreement on investment protection between the European Union and its member states, of the one part, and the Socialist Republic of Vietnam, of the other part, signed on June 30, 2019 in Hanoi, and to repeal the Council of Ministers' decision of February 26, 2021. 

The IPA between the EU and Vietnam will provide a high level of investment protection, safeguarding the rights of the EU and Vietnam to govern the relationship and pursue legitimate public policy objectives such as protecting public health, safety and environmental protection. The agreement will ensure that EU investors, including from Bulgaria, and their investments in Vietnam will enjoy fair and equitable treatment and will not be discriminated against compared to Vietnamese investments in similar situations.

From the date of its entry into force, the EU-Vietnam IPA will replace and abrogate bilateral investment treaties between Vietnam and EU Member States, including Bulgaria.

/BR/

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By 19:39 on 27.02.2024 Today`s news

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