PROCLAMATION 7449-^JUNE 8, 2001 115 STAT. 2795 The Honorable Vu Khoan Page 2 of4 (a) within 2 yean of entry into force of this Agreement, apply a registration regime for investment licensing in respect of projects investingIn industrial zones and export-processing zones; projects with export rate of at least 50%of products;projects having investment capital of up to USD S million. (b) within 6 years of the entry into force of this Agreement, apply a registration regime for investment licensing in respect of projects in manufacturing with investment capital of up to USD 20 million. (c) within 9 years of the entry into force of this Agreement, apply a registration regime for investment licensing in respectto other projects, except those provided for in paragraph t. In cases in which nationals or companies of the United States apply for an investment license ("license") for a covered investment, including in the sectors set forth in paragraph 1,the following provisions shall be applied: (c) Nationals and companies of the United States shall beaccorded most-farared nation treatment in respect of any requirements for, and in the administration of, licenses (b) The criteria for the granting or denial of a license, and for the imposition of any conditions for such license, shall be published, readily understandable, and no more burdensome than necessary to serve a legitimate regulatory interest. (c) The decision to grant or deny a license shall be made in conformity with all of the provisions of this Agreement, including those relatingto the maintenance and elimination of TRIMs and the provisions of Annex H and this letter. (d) A decision denying an investment license to nationals or companies of the United States shall be in writing and set forth the reason for the denial. A national or company of the United States, ifdenied a license, shall have the right to seek reconsideration of such decision with the investment licensing agencies of Vietnam which shall issue a decision within thirty (30) days. ^
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