Vietnam has become extensively engaged in the world trade playground by signing many free trade agreements (FTAs) with partners. Alongside the opportunities provided by these FTAs, the emergence of disputes and the means of settlement are something of particular concern.
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.
Addressing the launch ceremony, Nguyen Manh Dung, Deputy Director of the VMC, presented the basic contents and principles of the VMC’s mediation code (the VMC Code) and introduced the mediation procedures which operate in line with the VMC Code.
Accordingly, the VMC Code is drafted by the VMC Code editorial team, with the participation of the WB Group’s IFC mediation specialists, aiming to ensure that the mediation procedures at the VMC fully meet the principles of a typical mediation procedure in the world.
The VMC Code has also been carefully commented on by experts on legal proceedings in Vietnam, in order to ensure that the VMC’s mediation procedures comply with the frameworks of the Decree No. 22/ND-CP on trade mediation, and could operate well in Vietnam’s reality.
At the event, the leaders of the VIAC presented a decision on the appointment of Dr. Nguyen Si Dung, former vice chairman of the National Assembly’s Office, as the VMC director, while announcing a list of the first 11 mediators, who are experienced experts with high prestige in the society.
