The Prime Minister has recently signed a decision promulgating the Regulation on coordination in resolution of international investment disputes, against the backdrop that Vietnam’s trade and investment ties with the global economy continue to deepen.
Decision 14, which will take effect on June 1, provides principles, tasks, powers of, and process of coordination among, state agencies, organizations and individuals involved in resolving international investment disputes through international arbitration or at other tribunals outside Vietnam.
It does not apply to the settlement of investment complaints at arbitration centers, courts, agencies and organizations of Vietnam under Vietnam’s law.
Regarding coordination principles, responsible agencies, agencies acting as legal representatives of the Government, and related entities will be responsible for coordination in resolving international investment disputes in a comprehensive, effective and prompt manner under this Decree and Vietnam’s law to optimally protect lawful rights and interests of the Government and state agencies.
They are also obliged to keep state secrets and refrain from disclosing information and documents acquired during the dispute resolution, and take responsibility before law for consequences attributable to their failure to coordinate with one another under the aforementioned principles.
The coordination includes exchange of information and documents among relevant agencies in the process of settling foreign investors’ complaints, denunciations and problems in order to prevent international investment disputes.
In addition, competent persons of such agencies may be appointed to join inter-disciplinary working groups for dispute resolution upon requests of responsible agencies, participate in negotiating and mediating international investment disputes, formulate and implement strategies and roadmaps for dispute resolution, and collect and provide information, records, evidences and documents serving the dispute resolution.
These authorized persons are also in charge of dealing with contents related to awards granted by international arbitrators and performing other jobs during the resolution of international investment disputes.- (VLLF)