On December 30, 2023, mediators of Vietnam International Commercial Mediation Center (VICMC) participated in the IV-2023 of the periodic startup and startup advisor network meeting held in Ben Tre Province, co-organized by Bank for Investment and Development of Vietnam (BIDV) and Ben Tre Investment Promotion and Enterprise Support Center. The conference named “The core keys for enterprises to self-restructuring and sustainable developing in the new context”.
On the side of VICMC, there were:
- Lawyer Nguyen Hung Quang – President of VICMC, Managing Partner of NHQuang & Associates;
- Mediator Tran Thi Huong – Deputy Head of the Foreign Affairs Department of VICMC, Senior Advisor, Rajah & Tann LCT Lawyers;
- Lawyer Nguyen Anh Minh – VICMC’s Mediator, Partner of NHQuang & Associates;
- Lawyer Do Thanh Nghi – VICMC’s Mediator, Deputy Head – Legal Department of BIDV.
Besides, the meeting also welcomed participants who were representatives of the Department of Industry and Trade, the Provincial Women’s Union, the Market Management Department and 50 enterprises, startup projects.
When sharing with enterprises and economic experts, VICMC’s mediators gave an overview of current popular dispute resolution methods, including negotiation, mediation, arbitration, and Court. By comparing the advantages and disadvantages of each method, mediation, with its advantages in terms of timesaving, cost-effective, maintaining relationships, and ensuring confidentiality, is considered an effective solution in commercial transactions compared to the other methods.
In addition, from specific examples such as the fraud case of nearly 100 containers of cashew nuts in Italy, or the case of 5 containers of pepper, cinnamon, and star anise exported to Dubai, VICMC’s mediators gave advice to help enterprises prevent disputes such as: research markets carefully; negotiate contracts with clear wording; prepare credit risk plans and use insurance tools; work with consultants and lawyers throughout the business process. In case a dispute occurs, appropriate resolution methods need to be chosen…
At the end of the meeting, participants also had the opportunity to interact and exchange skills, information, … This is an event where individuals and start-up organizations to improve their communication and connections.
VICMC is very honoured to be invited to the meeting between experts and enterprises to introduce the friendly and effective dispute resolution method in commercial transactions, which is mediation. Hopefully, in the near future, thanks to its advantages, the mediation method will be commonly used in the business community.