The Vietnamese Government has issued a resolution approving the fourth Protocol to amend the ASEAN Comprehensive Investment Agreement (ACIA) signed on July 15, 2020.

Flags of ASEAN and its member States (Source: AFP)

The Government assigned the Ministry of Planning and Investment to chair and coordinate with relevant ministries and offices to carry out the protocol. Meanwhile, the Ministry of Foreign Affairs is tasked with conducting external procedures as regulated.

The ACIA was inked on February 26, 2009 and became effective on March 29, 2012 with the aim of promoting the building of a free, open and transparent investment area in ASEAN to achieve the goal of establishing the ASEAN Economic Community in 2015.

It focuses on Investment Liberalisation, Investment Protection, Investment Facilitation and Investment Promotion.

Since 2012, ASEAN member states have signed four protocols amending the agreements.

The fourth protocol aims at promoting regional integration and attracting more foreign investors.