At the workshop (Source: thuonghieuvaphapluat.vn) HCM City (VNA) – The Vietnam International Arbitration Centre (VIAC) received 180 disputes in 2018, with total dispute value amounting to 9.4 trillion VND (404.2 million USD), heard a workshop in Ho Chi Minh City on January 11. Statistics show that the concerned parties hailed from 60 countries worldwide and 50 Vietnamese cities and provinces. It took the centre about 150 days to address each case. Only one percent of the VIAC’s rulings were abrogated over the past five years. VIAC Permanent Vice President and Secretary General Vu Anh Duong said the disputes covered different sectors such as trade, investment and services. The centre is working on online procedural steps, while striving to improve its operational quality and human resources, towards transparent and effective dispute settlement. Chau Viet Bac, VIAC Deputy Director in HCM City, stressed the need for businesses to understand the role of commercial … [Read more...] about Vietnam Int’l Arbitration Centre receives 180 disputes in 2018
Arbitration and mediation centre
Transaction at VPBank Ha Thanh office in Hanoi (Source: VNA) Hanoi (VNA) - The Vietnam International Arbitration Centre (VIAC) organised a workshop on June 6 with the International Finance Corporation (IFC) to promote the use of alternative dispute resolution (ADR) methods in the banking and finance sector. The conference, named ‘Benefits and Challenges of Using ADR for Banking Disputes’, focused on the principles, conditions and procedures of commercial mediation as an ADR method, as well as the conditions for establishment of mediation centres in Vietnam and the implementation of Decree 22 on commercial mediation, which has been in effect since April 15, 2017. According to the decree, the settlement of disputes via trade reconciliation must ensure the principle of voluntarism and equality in terms of rights and duties between parties to the disputes who participate in … [Read more...] about Vietnam int’l arbitration centre holds dispute workshop
As the International Chamber of Commerce (ICC) gets set to hold its regional conferences in March to launch its new ICC Mediation Rules, it is now more pertinent than ever that Vietnam’s business community are aware that when it comes to resolving commercial disputes, there are far cheaper, quicker and more amicable options than simply going to court or arbitration, writes Logan Leung from LNT & Partners Mediation has for many years maintained a position as a viable alternative to resolving disputes for both private and public bodies. In Vietnam, the process is, with the exception of certain labour disputes and administrative matters, compulsorily employed at the courts (court-annexed mediation) and it is also frequently used for small-scale local disputes (grassroots mediation). Yet, mediation has seemingly flown under the radar of businesses when it comes to resolving disputes involving foreign parties. Private commercial mediation explained The process of mediation … [Read more...] about Is commerical mediation a face saver?
IMF, or the International Monetary Fund, has defined Foreign Direct Investment (FDI) as a cross-border investment. This simply means that a resident of one area will have control or strong influence in the management of a business enterprise resident in another area. FDI will happen due to the linking and globalization between different economies. Increased FDI in Various SEA Nations When it comes to international investments, there seems to be an investment growth in Asia. Even though there is the threat of the Asian Financial Crisis (AFC), the investment flow from FDI doesn't seem to be affected at all. While exports only make up ¼ of the FDI, sales to any foreign clients make up ¾ of the FDI. South East Asian countries tend to attract a lot of investments from the U.S.A., Japan, Canada and various European countries. The larger economies in Asia tend to have direct investments with smaller economies in the South East Asian areas. Inflow of FDI to Vietnam What many … [Read more...] about Foreign direct investments and dispute resolution
Arbitration in Viet Nam is expected to solve fast disputes in banking and finance areas. — Photo arbitration.uslegal.com DA NANG (VNS) — Businesses and banks in Viet Nam still resolve disputes through the courts, even though arbitration and mediation remain the most popular methods throughout the world in dealing with banking disputes. This preference for using courts was discussed by General secretary of the Viet Nam Banking Association Tran Thi Hanh at a workshop on the Use of Arbitration and Mediation (A&M) in the resolution of banking and financial disputes in Da Nang yesterday. "Viet Nam's economics has been deeply integrated into the world and the regional economic community, so banking and financial disputes have rapidly become more complicated. These needs a quick, easy procedure in solving disputes for businesses and banks," Hanh said. "Resolving banking disputes by arbitration and mediation could help businesses and banks deal with arguments and risks in a … [Read more...] about Arbitration could solve disputes fast