News

International arbitration: Commerce, Trade and Investment

26/07/2016 14:18

toan-canh1

International arbitration would be helpful for businesses in settling trade and investment disputes in the context of Vietnam integrating rapidly into the global economy, experts said on July 20.
The Vietnam International Arbitration Centre (VIAC) and Korean Commercial Arbitration Board (KCAB) jointly held the conference in Hanoi to promote awareness of international arbitration and its development in the region.
Duong1

Vu Anh Duong (Mr.) - Secretary General, Vietnam International Arbitrational Centre (VIAC)

Vu Anh Duong, VIAC’s General Secretary, said that the centre expected to enhance the capacity of businesses to settle disputes through out-of-court resolutions amid the country’s rapid economic integration.
As trade and investment was booming in Vietnam, with the presence of investors from more than 110 countries and territories in the world, arbitration became an important alternative dispute resolution, experts said.
ji-ho-kim

Ji Ho Kim (Mr.) - Diretor of KCAB

According to Ji Ho Kim, Director of KCAB, with the Vietnam – Korea Free Trade Agreement officially coming into effect at the end of last year, legal activities should be increased to promote economic development, in which international arbitration is considered an effective solution to this problem.
DatPhan Trong Dat (Mr.) - Vice Secretary General, Vietnam International Arbitration Centre (VIAC)

Phan Trong Dat, Deputy General Secretary of VIAC, said that with the promulgation of the Law on Commercial Arbitration 2010, the legal framework on arbitration of Vietnam was moving closer to international standards.
He cited statistics which showed that VIAC handled 146 disputes in 2015, increasing by 18 percent over the same period last year and up from a mere 6 cases in 1993 when the centre was founded. The disputes were related to a variety of sectors, such as sales, finance, construction and insurance.

Pham Manh Dung (Mr.) - Arbitrator, Vietnam International Arbitration Centre (VIAC)

Pham Manh Dung, former director of the Ministry of Planning and Investment’s Legal Department, said that the legal framework on arbitration, enforcement of judgment and reconciliation should be improved. In addition, regulations on transparency and access to information were needed.

*Some photos taken at the workshop

toan-canh3

 

chutoa1

 

byoung-Pil-Kim

 

Byoung Pil KIM (Mr.) – Partner BAE, KIM & LEE LLC

 

 

Do Trong Hai (Mr.) - Arbitrator, Vietnam International Arbitration Centre (VIAC)

 

hop-dang

 

Hop Dang (Mr.) – Vietnam International Arbitration Centre (VIAC)

 

toan-canh4

___________

Workshop Materials: [Click here]

International arbitration helpful for trade disputes - VietnamPlus 20 July, 2016

Share Post
SOME OTHER NEWS
  • 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.

  • 1st International ADR Conference at the Dusit Thani 30/05/2018 15:52

    In the conference, Mr. Phan Trong Dat (VIAC Vice General Secretary) presented about the enforcement of Mediated Settlement Agreement in Vietnam. Dat supposed that the enforceability of mediated settlement agreements is maybe the most important factor contributing to the success of mediation.

  • Vietnam launches mediation centre for trade-related issues 30/05/2018 15:31

    According to Tran Huu Huynh, President of the VIAC, Vietnam is considered a country with high and stable economic growth in the region and in the world. The Vietnamese Government has made a number of strong commitments and actions to reform in a more facilitative fashion, aiming to build a favourable business climate for investors, including the finalisation of a legal framework for the methods of settling trade disputes.

  • Many FDI firms choose commercial arbitration in resolving disputes 22/05/2018 14:11

    Phan Trong Dat, Deputy Secretary General of the Vietnam International Arbitration Centre (VIAC) said at a recent seminar that the rate of disputes in Vietnam has increased in the last three years with over a half of commercial arbitration cases at VIAC being resolved in foreign languages (mainly English).

  • Message from the Secretary General 2018 03/04/2018 16:22

    The Government enacted Resolution No. 19/2017/NQ-CP on continuing to implement main duties and solutions for improving business environment and enhancing national competitiveness in 2017 and orientation towards 2020. Consequently, according to the rating report issued by the World Bank, Vietnam has increased 14 levels in terms of business environment index and ranked 68th out of 190 economies in the world.

  • VIAC and THAC signed the Co-operation Agreement 03/04/2018 14:47

    On 15 March 2018, Vietnam International Arbitration Centre (VIAC) welcomed a visit from Thailand Arbitration Centre (THAC) delegates. Mr. Tran Huu Huynh (President of VIAC) and Mr. Pasit Asawawattanaporn (Director of THAC) together with other members of VIAC and THAC attended the meeting and witnessed the signing of the Co-operation Agreement between the two centres.

  • VIAC Arbitrator attends the 68th session of Working Group II, UNCITRAL 01/03/2018 16:03

    From 3-9 February, 2018, at the United Nations Headquarters, New York, PhD., Lawyer Le Dinh Vinh - Director of Vietthink Law Firm cum VIAC Arbitrator has attended the 68th session of Working Group II of the United Nations Commission on International Trade Law (UNCITRAL). The session aims at discussing the Draft Convention of the United Nations on Enforcement of International Commercial Settlement Agreements Resulting from Mediation.

  • Mediation and Arbitration: The Differences 12/12/2017 16:15

    Mediation and commercial arbitration are two alternate dispute resolutions (outside courts) recognized by Vietnamese Rules. According to the law, these methods are based on the voluntariness of the agreement between each party and are enforced by number of rules such as: Resolution No.22/2017/NĐ-CP about Mediation and Commercial Arbitration Rules 2010.

    REGISTER EMAIL WITH VIAC