Pursuant to the Decision No.04/2014/QD-TTg, international investment disputes are disputes arising from time when foreign investors sue Vietnamese Government or State or State agencies, organizations authorized for State management on the basis:
- The Agreement on Promotion and Guarantee of Investments or commercial agreements or other international treaties which provide for investment promotion and guarantee of which Vietnam is a contracting member, in which provide for resolution of disputes between foreign investors and Vietnamese Government at international arbitration or competent foreign tribunals; or
- Contracts, agreements between Vietnamese Government or Vietnamese State agencies and foreign investors, in which provides that agencies for resolution of disputes arising from these contracts, agreements shall be international arbitration or competent foreign tribunals.
The legal representative agency of Government in resolution of international investment disputes has tasks and powers to act as focal unit to assist Government, the Prime Minister in directing uniformly resolution of international investment disputes with the aim to protect lawful rights and benefits of Vietnamese Government and Vietnamese state agencies.
The Ministry of Justice shall be the presiding agency for resolution of international investment disputes arising when foreign investors sue Vietnamese Government on the basis of agreements on investment guarantee.
The Vietnamese State agency that presides over negotiation or signs, on behalf of Vietnamese Government, contracts and agreements between the Vietnamese Government and foreign investors shall be the presiding agency for resolution of international investment disputes arising on the basis of those contracts and agreements.
The Ministry of Finance shall be the presiding agency for resolution of disputes arising in case where foreign investors sue Vietnamese Government involving loans, debts of Government, on issuance of government bond, government-guaranteed bonds and local government bonds …
In necessary case, at the proposal of Minister of Justice, the Prime Minister shall decide the appointment or change of the presiding agency.
Depending on the complex nature of international investment disputes, the presiding agency shall consult the legal representative of Government to decide on selection, hiring of barristers.
Any inquiry in types of investment dispute in Vietnam, please read here.
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