The Government of the kingdom of Thailand and the government of the lao People's Democratic Republic, hereinafter called "Con tracing Parties"
Recognising that the good neighborly cooperation in the fields of economics and trade through investment will promote progressive development for the well being of the people pf both States.
Desiring to create favorable condition for greater economic cooperation between them and in particular, for the investment of capital by nationals and companies of one state in the territory of the other state
Recognising that the reciprocal encouragement and protection of such investment of capital and the investment under international agreements will be conducive to the stimulation of individual business initiative and will increase prosperity in both states : have agreed as follows
INSTRUHENT OF RATIFICRTIOQ
WHEREAS the Agreement between the Government of the Kingdom of Thailand and the Government at the Lao People’: Democratic Republic for the Promotion and the Protection of Investments was sinned at Bangkok on 22 August B.E. 3533 by the duly authorized Representatives of the Government of the Kingdom of Thailand and the Government of the Lao People's Democratic Republic : and
WHEREAS Article 10 of the Agreement stipulates that this Agreement shall be subject to ratification and shall come into force thirty days after the date of the exchange of instruments of ratification :
THE GOVERNMENT OF THE KINGDOM OF THAILAND, havinq considered theaforesaid Agreement, hereby contirme and ratifies the same and undertakes to faithfully perform and carry out all the stipulations contained therein.
IN WITNESS WKEREOF, this Instrument of Ratification is eiqned and sealed by the Minister of Foreign Atfaire of Thailand.
DONE at Bangkok, this hay of October in the Two thousand Five hundred and Thirty-third year of the Buddhist Bra, corresponding to the One thousand Nine hundred and Ninetieth year ot the Christian Era.
ARTICLE 1
Yor the purposes of this ncreement:
1. the term "national" shall mean any person who possesses
nationality under the law in force in each of the Contracting Parties.
2. the term "companies" shall mean juridical persons
incorporated or constituted under the Law in force in the territory of
either Contracting Party whether or not with limited liability and
whether or not for pecuniary profit.
3. the term "investments" shall mean every kind of asset.
includinc in particular. but not exclusively;
a} movable and immovable property and any other
property rights such as mortgaqes. liens or
pledaesi
b) shares. stock and debentures af companies wherever
incorporated or interests in the property of such
comnanies:
c) claims to money or to any performance under
contract having a financial value;
d) patents, trade~merks. trede—name and qood will:
e) business concession conferred by law or under
contract. includine concessions to search for.
cultivate. extract or exploit natural resources.
4. the term "returns" shall mean the amounts yielded by an
investment and in particular, thouoh not exclusively, shall include
orofiit. interest, capital qeins, Gividends, royalties or Sees:
5. the term "territory" shall mean territory over which
Contracting Party has sovereignty and/or jurisdiction.
ARTICLE 2
(1) The benefits of this Agreement shall apply only in cases
where the investment of capital by the nationals anfl companies of one
Contracting Party in the territory of the other Contracting Party has
been specifically approved in writing by the latter Contracting Party.
(2) Nationals and companies of either Contracting Party
shall apply for such approval in respect of any investment of capital
whether made before or after entry into force of this Agreement.
ARTICLE 3
(1) Each Contracting Party shall, having regard to its laws,
plans and policies, encourage and facilitate the investment oi capital
in its territory by the nationals and companies of the other
Contracting Party.
(2) Investments or nationals or companies of one Contracting
Party in the territory of the other Contracting Party shall enjoy the
most constant protection and security under the laws of the latter
Contracting Party.