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VIAC and International Court of Arbitration ICC co-operates in Better Dispute Resolution, Better International Business

22/05/2017 17:22

On 18 May 2017, Vietnam International Arbitration Centre (VIAC) co-operated with ICC International Court of Arbitration to organize the “Better Dispute Resolution, Better International Business” Seminar. This seminar has attracted different representative from various business sectors, lawyers together with media and presses.

The recent years has witnessed a considerable increase in global integration of many free trade agreements (FTA). Especially, the new generation of FTAs has been promised to foster a strong development, closer connection with sustainable development and quick adaptation to global challenges. Following that trend, VIAC has increased its global presence in the last 3 years by: attending and presenting in international conferences, co-operating to organize international seminars with many other international arbitration centres, such as the ICC International Court of Arbitration, Singapore International Arbitration Centre (SIAC), Korean Commercial Arbitration Board (KCAB), Hong Kong International Arbitration Centre (HKIAC), Asia Pacific Regional Arbitration Group (APRAG) and other big arbitration groups and associations in the region.

 

Overview of the seminar

As an opening remark, Mr. Vu Xuan Phong – Vice President of VIAC said: “The international commercial activities have increased remarkably recently within the region and across the world. With that, the co-operation between arbitration organizations is inevitable. Therefore, I hope the relationship between VIAC and the ICC International Court of Arbitration will be stronger to create a friendly environment for on dispute resolution.”

 

Mr. Vu Xuan Phong – Vice President of VIAC

Mr. Andrea Carlevaris agreed on the point and added that: “The competition between arbitration centres has been increasing significantly. However, it is not necessarily a bad trend. A healthy competition will drive us forward to improve our services, perfect our dispute resolution procedure and strengthen our ability to adapt to global challenges”

 

Mr. Andrea Carlevaris – Secretary General of Internation Court of Arbitration ICC

VIAC and International Court of Arbitration ICC both agreed to make some changes in their Rules of Arbitration. These changes originated from practical dispute resolution cases in various arbitration centres to serve enterprises better.

Mr. Phan Trong Dat, Deputy Secretary General of VIAC emphasize: “In VIAC, listening to all parties and understanding all challenges of enterprises is the foundation in our development. We center our activities around enterprises, make our clients become the core value in our long term plan.” The new rules are expected to bring positive effects to arbitration procedure, especially with the Expedited Procedure which is expected to resolve dispute effectively, quickly and will not affect the activities and relationship between companies.

The year 2016 witnessed a significant growth of international arbitration being reflected in the rapid increase in the number of disputes specialized in the construction sector. Southeast Asia is one of the strongest areas in this general trend. To be known as a region with a lot of competitions and thriving commercial activities, Southeast Asia is always a diversified market, an investment opportunity. However, this region also has potential risks, even a complex one which leads to negative consequences for the business. With outstanding advantages, commercial arbitration will be regarded as an useful, trusted and supportive tools for business community.

The seminar was also an open international forum with many discussion from not only experts but also attendances. Intensive issues discussed openly at the seminar play an important roles to identify and remove current problems in the commercial arbitration proceeding.

Trong hình ảnh có thể có: 6 người, mọi người đang ngồi và trong nhà  Trong hình ảnh có thể có: 4 người, mọi người đang ngồi và mọi người đang đứngTrong hình ảnh có thể có: 5 người, mọi người đang ngồi và trong nhà  Trong hình ảnh có thể có: 4 người

As a longstanding arbitration institution and the determination to be a pioneer in the field of dispute resolution in Vietnam and the world, VIAC and ICC will continue our mission to build a foundation, provide effective dispute resolution and useful legal information for business community. 

 

VIAC and ICC representatives at the event.


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