4 Amendments of Pierfrancesco MAJORINO related to 2018/0358M(NLE)
Amendment 2 #
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Recalls that Vietnam is a developing country; underlines that in order to contribute to reaching the Sustainable Development Goals, in particular SDG 1 on poverty eradication, SDG 8 on decent work and SDG 10 on reduced inequalities, investment must contribute to the creation of quality jobs, support the local economy and fully respect domestic regulation including tax requirements;
Amendment 8 #
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the use of the transparency rules of the United Nations Commission on International Trade Law (UNCITRAL) for dispute settlement, but underlines that the use of substantive provis; emphasises that the protections of foreign investment protection, in particular the principles of ‘indirect expropriation’ and of ‘fair and equitable treatment’, does not weaken the Parties’ right to regulate and pursue legitimate public policy objectives, such as public health, safety and environmental protectionlegitimate public policy decisions and the right to regulate must not be challenged by investors; insists on regular monitoring and reporting back to the European Parliament on the use of this provision by European investors;
Amendment 12 #
Draft opinion
Paragraph 3
Paragraph 3
3. Notes with concern that protections afforded to investors could possiblyare outpaceing the development of investor responsibilities as the EU-Vietnam Investment Protection Agreement (IPA) guarantees enforceable rights to foreign investors through the arbitration clause, but does not provide a sanction mechanism for non-compliance with social and environmental standards; reiterates the need to ensure a fair balance of investors’ rights and duties, in terms of corporate, social and environmental standards, in the IPA; underlines in this regard the importance of establishing an independent monitoring and complaint mechanism that can be seized by affected populations and that has the authority to make binding rulings with regard to the negative impact that trade and investment agreements may have.
Amendment 15 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Reaffirms in the strongest terms that the parties to the IPA as well as investors protected by the IPA must respect all international human rights standards and obligations, in addition to those arising from domestic laws; calls on the Parties to take account of internationally agreed principles and instruments such as those of the OECD Guidelines for Multinational Enterprises and the UN guiding principles on business and human rights, as well as the UN Principles for Responsible Investment and Reporting;