News

Conference on International Arbitration Training Day 2017: Introduction of IBA Soft Law

08/11/2017 09:12

On November 4 in Hanoi, Vietnam International Arbitration Centre (VIAC) in cooperation with the Asia Pacific Arbiration Group under International Bar Association (IBA) organized the International Arbitration Training Day 2017: Introduction of IBA Soft Law. The program attracted a large number of arbitrators, lawyers from Vietnamese businesses. The program aims to assist Vietnamese Businesses in gaining international experience in the use of international arbitration to settle disputes.

VIAC has been supporting many of Vietnam’s trade disputes over the past few years. It has deal with approximaly 1300 cases involving all aspects of trade and investment with disputants from more than 60 countries and territories around the world. VIAC has also organized many counseling programs for Vietnamese businesses which provide them experience in dealing with trade disputes.

Mr. Vu Anh Duong – Vice President of VIAC said: “The principle of arbitration requires the parties to have an arbitration agreement. It is neecessary to draw up an arbitration clause that is legally enforceable and practicable. Therefore, when a dispute arises, it can be resolve by arbitration.” Arcording to Mr. Duong, in addition to the rules set out in commercial arbitration there are also rules of professional associations that the Vietnamese businesses need to know in order to resolve disputes.

Ms. Ariel Ye – Co-chair of IBA Asia Pacific Arbitration Group said: “Vietnam is currently a major destination for foreign investment and there are many disputes in cross-border transactions. Business always want to solve disputes efficiently and quickly. Hence we organize these training sessions to help our law firms and arbitrators have better skills and knowledge thus creating favorable conditions for local and international businesses to invest in Vietnam more and settle disputes (if any).”

The experts supposed that international commercial arbitration is the way to resolve disputes in the future with many outstanding advantages. If Vietnam wants to integrate into the world economy quickly and sustainably it must constantly improve the legal system in general and the law on arbitration in particular to suit the general development trend.

Credit: VTC10

Share Post
SOME OTHER NEWS
  • Transshipment risks for steel makers 16/11/2018 15:00

    The escalating trade dispute between the US and China is causing headaches for Vietnam when dealing with the re-routing of goods, and could lead to it becoming a “transshipment hub” for overseas products.

  • Hong Kong court refuses to enforce an arbitral award on the basis of violation of public policy 02/11/2018 09:30

    The Hong Kong Court of First Instance (“CFI”) refused to recognize and enforce an arbitral award (“Award”) of the China Guangzhou Arbitration Commission (“Commission”) on the basis that enforcement under section 95(3)(b) of the Hong Kong Arbitration Ordinance would be contrary to the public policy of Hong Kong

  • Signing of co-operation agreement with CIArb and ICDR/AAA 15/10/2018 11:21

    On October 12th 2018, Vietnam International Arbitration Centre (VIAC) has signed a Memorandum of Understanding (MoU) with the Chartered Institute of Arbitrators, London Branch and a Cooperation Agreement (CA) with the International Centre for Dispute Resolution (ICDR), a division of the American Arbitration Association (AAA) as part of the opening ceremony for the Introduction to International Arbitration Course, hosted by VIAC and CIArb, London and sponsored by ICDR at Deutsche Haus Building, Ho Chi Minh City.

  • Mitigating investment risk – treaty planning and damages claims against state entities 27/08/2018 10:27

    What do these three scenarios have in common? An investor is negotiating a contract with a state entity in a high-risk jurisdiction. An investor – an individual or a corporate entity – is considering how to structure its holdings in a tax efficient manner. An investor is facing potential asset nationalisation or breach by a state entity of its contractual obligations.

  • Firms suggested using mediation to resolve commercial disputes 23/08/2018 11:50

    Phan Trong Dat, Deputy Secretary General of the Vietnam International Arbitration Centre (VIAC) and Deputy Director of the VMC, said mediation is appropriate for Asian culture since Asians prefer to settle disputes in a peaceful way. According to Dat, mediation is simply a negotiation with the participation of an independent mediator who can help both parties discuss their matter and reach their own agreement.

  • Simplified procedure for foundation of standard LLCs 26/07/2018 14:37

    The Austrian Parliament recently passed an amendment to the law on limited liability companies (LLCs) aimed at simplifying the foundation of a special kind of LLC. The purpose of the changes – and the simplifications associated with them ­– have been hotly debated.

  • Taxation of bitcoin and other cryptocurrencies 26/07/2018 14:34

    The meteoric rise and subsequent tailspin in the price of bitcoin has incited rampant investment in cryptocurrencies. Over 1,400 coins or tokens are now in circulation. Often lost in the resplendence and chicness of buying and selling cryptocurrencies are the tax consequences.

  • Launching Ceremony of Vietnam Mediation Centre and the Official Release of VMC Mediation Rules 2018 18/06/2018 16:05

    On 29 May 2018, the Vietnam International Arbitration Centre ran the Launching Ceremony of Vietnam Mediation Centre (“VMC”), a division of Vietnam International Arbitration Centre in Hanoi. VMC is the first unit in Vietnam to provide professional service of commercial mediation under the Decree No. 22/2017/ND-CP dated 24 February 2017 on commercial mediation.

    REGISTER EMAIL WITH VIAC