Dispute resolution to investment activities under Vietnamese laws will be showed by lawyers specialized in investment dispute resolution, Dragon Law Firm as below:
Disputes relating to investment activities in Vietnam are resolved through negotiation, mediation. In case of failure of negotiation and/or mediation, the disputes shall be resolved in arbitration or court under the provisions of Clause 2, 3 and 4 of Article 14 under the Law on Investment 2014, namely:
2. Every dispute between a Vietnamese investor and a foreign-invested business organization, or between a Vietnamese investor, a foreign-invested business organization and a regulatory body over business investments within Vietnam’s territory shall be settled by Vietnam’s arbitration or court, except for the cases in Clause 3 of this Article.
3. Every dispute between investors, one of which is a foreign investor or a business organization defined in Clause 1 Article 23 of this Law, shall be settled by one of the following agencies/organizations:
a) Vietnam’s court;
b) Vietnam’s arbitration;
c) Foreign arbitration;
d) International arbitration;
dd) An arbitral tribunal established by the parties in dispute.
4. Every dispute between a foreign investor and a regulatory body over business investments within Vietnam’s territory shall be settled by Vietnam’s arbitral tribunal or Vietnam’s court, unless otherwise agreed or prescribed by an international agreement to which the Socialist Republic of Vietnam is a signatory.
For the above methods, Dragon Law Firm encourage the parties to choose the dispute settlement by means of negotiation because this is the method to keep the business secrets.
If forced to make tribunals should choose arbitration because settlement by arbitration will be more flexible, proactive, simple procedure than the courts. The awards of the arbitration to be final, this is the dominance than negotiation and mediation. If possible, investors should learn to "prevention is better than cure", consult the advice of law firm that specializes in economic law to avoid the risk, unnecessary disputes.
For more support in investment dispute settlement in Vietnam, please kindly contact to Dragon Law Firm at:
Dragon Law Firm - Hotline: 1900.599.979
Hanoi Headquarter: FL14.6, VIMECO Bldg, Lot E9, Pham Hung Str., Trung Hoa Ward, Cau Giay Dist., Hanoi
Hai Phong Office: FL4.6, Khanh Hoi Bldg, Lot 2/3C, Le Hong Phong Str., Ngo Quyen Dist., Hai Phong