Speaking at the event, Prof, Dr Le Hong Hanh, President of VIAC, said that amid the rapid growth of digital finance, fintech, and cross-border transactions, disputes in the financial sector are becoming increasingly complex and demand highly specialised resolution mechanisms.
He said that, to enhance investor confidence and strengthen Viet Nam’s competitiveness, the development of the Viet Nam International Financial Centre (VIFC) not only requires modern financial and technological infrastructure but also a transparent legal framework and effective dispute resolution mechanisms in line with international practices.
Nguyen Khanh Ngoc, President of the Viet Nam Lawyers Association, emphasised that the emergence of digital finance, digital assets, and cross-border transactions is giving rise to new and increasingly complex forms of dispute.
In this context, arbitration and alternative dispute resolution methods offer significant advantages due to their flexibility, confidentiality, and capacity for specialised expertise.
The panel comprises 15 specialists and is expected to help develop dispute resolution mechanisms tailored to the nature of modern financial transactions.
As part of the programme, the VIAC also signed cooperation agreements with the Viet Nam Association of Financial Investors and the Viet Nam Blockchain Association to enhance cooperation on resolving disputes related to finance, fintech, and digital assets.
According to experts, as the VIFC develops, the establishment of a modern, transparent, and predictable dispute resolution framework will be a key factor in attracting international capital flow, promoting the development of the digital financial market, and enhancing Viet Nam’s competitive position in the region.
Hoang Huy Truong, Head of the Legal Affairs Division of VIFC in Ho Chi Minh City, said the centre aims to become a gateway for attracting foreign capital to Viet Nam, with dispute resolution infrastructure serving as one of its essential components.
Institutions such as specialised courts, an international arbitration centre within the VIFC, and other arbitration bodies could all be utilised to resolve disputes.
During the specialised discussion session, participants addressed issues including legal sandbox mechanisms for digital finance; the role of specialised courts, judicial cooperation, and cross-border enforcement; and models for cooperation between arbitration bodies and courts in resolving financial disputes.
Experts noted that Viet Nam should continue to refine its legal framework and dispute resolution infrastructure in a modern and flexible manner, bringing them closer to international standards in order to meet the development requirements of the financial market in the new phase.
