,

ISSUES CONCERNING DISPUTE RESOLUTION THROUGH MEDIATION AT INTERNATIONAL FINANCIAL CENTRES WORLDWIDE AND IN VIETNAM

by

The International Financial Centre in Vietnam (“IFC”) was established pursuant to Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Centre in Vietnam and Decree No. 323/2025/ND-CP of the Government. It officially commenced operations in Da Nang on January 9, 2026[1], and in Ho Chi Minh City on February 11, 2026[2].

Alongside the establishment of the IFC institutional framework, the International Arbitration Centre under the IFC and the Specialized Court within the IFC have also been announced and put into operation. These two dispute resolution institutions are currently preparing the necessary conditions to operate in a stable and effective manner for financial investors.

In the legal documents governing the establishment and operation of the IFC in Vietnam, mediation is provided as part of dispute resolution methods within arbitration and court proceedings. There are no specific provisions restricting parties from choosing mediation through an independent mediator or an independent commercial mediation centre outside the IFC.

This issue is similar to the Dubai International Financial Centre (DIFC) in the United Arab Emirates (UAE). Under the procedural guidelines of the DIFC Courts, disputing parties have full discretion to appoint independent mediators not introduced by the DIFC Courts[3]. The applicable law within the DIFC Courts is separately regulated[4], independent from the national court system, and based on general principles and standards of the common law system[5]. The DIFC Courts encourage parties to use alternative dispute resolution (ADR) methods such as negotiation and mediation for disputes within their jurisdiction[6]. Judges and certain judicial officers of the DIFC Courts may conduct mediation, provided they have not participated in adjudicating the dispute[7]. In 2025, the DIFC Courts also established a Mediation Services Centre to support parties in resolving disputes through mediation[8]. Mediated settlement agreements can be recognized by the DIFC Courts and enforced with the same effect as court judgments[9]. Mediation is also encouraged in arbitration proceedings within the DIFC framework[10].

Similarly, the Abu Dhabi Global Market (ADGM) has integrated mediation into the operations of the ADGM Courts and the ADGM Arbitration Centre. Since 2019, the ADGM Courts have implemented a Court-Annexed Mediation Scheme[11]. In addition to selecting mediators introduced by the ADGM Courts, disputing parties may also choose independent mediators to resolve their disputes[12]. Notably, in 2022, ADGM introduced “Mediation in the Metaverse”[13]. This service is promoted as a global innovation in mediation services, transforming the traditional court-connected mediation model into a next-generation approach. By leveraging the latest Web3 technologies, ADGM’s “metaverse mediation” offers a more immersive experience, enhancing virtual mediation effectiveness by allowing participants to access a 3D office environment modeled after the physical premises of the ADGM Arbitration Centre, with integrated video avatars. Access is available via desktop or mobile devices without additional hardware. This service enables parties to conveniently exchange views and discuss solutions without requiring in-person meetings[14].

For the Astana International Financial Centre (AIFC) in Kazakhstan, both the AIFC Court and the AIFC International Arbitration Centre also encourage parties to use mediation. Mediation at the AIFC Court is a pre-trial dispute resolution activity conducted by judges. Judges who conduct mediation do not participate in adjudication. Cases handled by the AIFC International Arbitration Centre are predominantly resolved through mediation[15]. Similar to DIFC and ADGM, the AIFC operates under a distinct legal system independent of Kazakhstan’s national legal framework. Settlement agreements reached through mediation within the AIFC may be recognized and enforced by the AIFC Court and benefit from international enforcement mechanisms under the Singapore Convention, to which Kazakhstan is a party. As of June 2023, the AIFC Court had successfully resolved 1,695 cases through mediation, accounting for nearly 80% of all cases handled at this financial centre[16].

Confidentiality of dispute-related information is one of the key advantages and essential conditions of mediation, as reflected in the regulations of dispute resolution institutions within international financial centres. For example, courts and arbitration institutions in DIFC, ADGM, and AIFC have developed relatively consistent confidentiality standards: mediation-related information, including documents, communications, proposals, and statements, must not be disclosed or used in subsequent proceedings; mediation sessions are conducted privately[17], thereby protecting financial information, assets, and investors. For online mediation, dispute resolution institutions invest in high-level security infrastructure with multi-layer access control[18].

Standards for mediators are also a key concern for disputing parties when selecting mediators and mediation institutions. The DIFC Courts and ADGM Courts both emphasize professional competence and ethical standards in mediation mechanisms. The ADGM Court rules require that only court-accredited mediators and independent mediators appointed by the ADGM Courts may conduct court-annexed mediation[19]. Meanwhile, DIFC Court rules require mediators to adhere to principles of good faith, fairness, and efficiency. Applicants seeking registration as mediators must have conducted at least 10 mediations; completed at least six hours of Continuing Professional Development (CPD) in mediation; be proficient in English; have a solid understanding of the common law system and the DIFC Mediation Service Centre Rules; and have completed accredited mediation training to be listed as DIFC mediators. Even after accreditation, the DIFC Courts’ Mediation Registry may reassess a mediator’s status at any time based on complaints from parties or concerns regarding the mediator’s conduct. Mediators may be required to undertake additional training to maintain their status[20].

As analyzed above, Vietnamese regulations on the IFC do not impose specific restrictions where parties choose to resolve disputes through mediation by independent mediators or independent commercial mediation organizations outside the IFC. The Law on the Specialized Court does not limit parties in choosing mediation at the Specialized Court, the International Arbitration Centre under the IFC, or other commercial mediation institutions. Currently, mediation activities within the IFC in Vietnam lack specific legal provisions on confidentiality requirements and mediator standards, although these issues are addressed in Decree No. 22/2017/ND-CP on commercial mediation. These are areas where commercial mediation organizations outside Vietnam’s IFC should focus on strengthening their capacity to gain the trust of the business community within the IFC ecosystem.

Reference: Law on the Specialized Court at the International Financial Centre No. 150/2025/QH15.

Authors:

Nguyen Hung Quang – Chairman of the Vietnam International Commercial Mediation Center (VICMC);

Nguyen Phuong Thao Uyen – Secretary of the Vietnam International Commercial Mediation Center (VICMC);

Nguyen Viet Huong – Law student at Monash University, Australia.

[1] Nguyen Thi Anh Dao. (2026). Vietnam International Financial Centre in Da Nang: Building a brand and enhancing its position. Nhan Dan Online Newspaper. https://nhandan.vn/trung-tam-tai-chinh-quoc-te-viet-nam-tai-thanh-pho-da-nang-kien-tao-thuong-hieu-nang-tam-vi-the-post937896.html

[2] Launch of the Vietnam International Financial Centre: Immediate completion of breakthrough institutional frameworks and proposals for exceptional incentive policies required. Government Electronic Newspaper. https://xaydungchinhsach.chinhphu.vn/ra-mat-trung-tam-tai-chinh-quoc-te-viet-nam-phai-hoan-thien-ngay-cac-the-che-vuot-troi-de-xuat-chinh-sach-uu-dai-dot-pha-119260211110727755.htm

[3] Dubai International Financial Centre Courts, Practice Note No. 1 of 2021: Referral of Cases to Mediation.

[4] Law No. 2 of 2025 concerning Dubai International Financial Centre Courts, Article 14.

[5] Supreme People’s Court (2025), Appendix to the Proposal on the Specialized Court Project at the International Financial Centre, p. 28; Charlotte Bijlani and William Stewart (Watson Farley & Williams LLP) (2025), DIFC Mediation Centre – What we know so far: Further alignment with English law?, https://www.lexology.com/library/detail.aspx?g=910d1a9e-4398-4864-8e71-1b69205dd0df.

[6] Herbert Smith Freehills Kramer (2012), Mediation in Dubai International Financial Centre (DIFC),  https://www.hsfkramer.com/notes/adr/2012-05/mediation-in-the-dubai-international-financial-centre-difc.

[7] Dubai International Financial Centre Courts, Practice Note No. 1 of 2021 Referral of Case to Mediation.

[8] DIFC Courts (2025), Mediation Service Centre, https://www.difccourts.ae/about/mediation-service-centre.

[9] Law No. (2) of 2025 Concerning Dubai International Financial Centre Courts. Article 30(B). https://www.difccourts.ae/application/files/1917/4184/9896/Dubai_Law_No.2_English_1.pdf

[10] Herbert Smith Freehills Kramer (2012), Mediation in Dubai International Financial Centre (DIFC),  https://www.hsfkramer.com/notes/adr/2012-05/mediation-in-the-dubai-international-financial-centre-difc; Zakir Mir (Borderless Counsel) (2019), Mediation Q&A: Dubai International Financial Centre (DIFC), Practical law, https://www.borderlesscounsel.com/blog-news-and-updates/2019/3/7/mediation-qampa-dubai-international-financial-centre-difc-practical-law; DIAC-Dubai International Arbitration Centre, Dubai Mediation Rules 2023.   

[11] ADGM, Legal Framework, https://en.adgm.thomsonreuters.com/rulebook/1342; ADGM Courts (2019), Enhancing Access to Justice throught Court-Annexed Mediation, https://www.adgm.com/adgm-courts/court-annexed-mediation; ADGM, Courts, https://www.adgm.com/faqs/courts.

[12] ADGM, Legal Framework, SCHEDULE C — Court Officers as Mediators, https://en.adgm.thomsonreuters.com/rulebook/1342.

[13] ADGM, Mediation in Metaverse, https://www.adgm.com/media/announcements/abu-dhabi-global-market-launches-mediation-in-the-metaverse.

[14] ADGM, Mediation in Metaverse, https://www.adgm.com/media/announcements/abu-dhabi-global-market-launches-mediation-in-the-metaverse.

[15] Christopher Campbell-Holt (2022), A Model Business Climate in Kazakhstan: Dispute Resolution Service At AIFC Court and International Arbitration Centre, https://cicc.court.gov.cn/html/1/219/199/203/2280.html.  

[16] https://aifc.kz/news/more-than-2-100-cases-resolved-and-enforced-by-the-aifc-court-and-iac/

[17] Article 13.44. PRACTICE DIRECTION 13 COURT-ANNEXED MEDIATION. ADGM. https://en.adgm.thomsonreuters.com/entiresection/19452?utm_source.  

[18] ADGM, Mediation in Metaverse, https://www.adgm.com/media/announcements/abu-dhabi-global-market-launches-mediation-in-the-metaverse.

[19] SCHEDULE C — Court Officers as Mediators. PRACTICE DIRECTION 13 COURT-ANNEXED MEDIATION. https://en.adgm.thomsonreuters.com/entiresection/19452?utm_source

[20] DIFC Courts. Guidelines for registration  panel of mediators.  https://www.difccourts.ae/application/files/5017/5825/8135/Guidelines_for_Registration_-_DIFC_Courts_Panel_of_Mediators.pdf

Các bài viết trước

CUSTIOMS IN INTERNATIONAL TRADE

Promoting the development of international trade is a trend in countries around the world; therefore,  international trade contracts are increasingly popular and widely used. However, in international trade, the  parties are from various countries that under the same contract, which causes differences in the application of regulatory laws as well as differences in the way the law is applied when resolving disputes. So in those cases, what do businesses need to keep in mind when entering the market?

Training program on PPA organized by ERAVCTED on October 12-13, 2023

Training program on PPA organized by ERAVCTED on October 12-13, 2023, coordinated with Bitexco Energy Joint Stock Company (Bitexco Power) on “Construction investment, Operational management of power plants and contract dispute resolution, legal issues arising during the implementation of electricity purchase contracts” with the offline and online participation of senior experts and Bitexco Power staves.

Leave a Comment