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MOU SIGNING CEREMONY BETWEEN VICMC AND SCIA ON 15/10/2024

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After months of discussions on cooperation, on October 15, 2024,  Vietnam International Commercial Mediation Center (VICMC) and the Shenzhen Court of International Arbitration (SCIA) held a MOU signing ceremony on between VICMC and SCIA at the Park Hyatt Hotel in Ho Chi Minh City.

Attendees from SCIA included Mr. Liu Xiaochun, Chairman of SCIA, Executive Director of SCIA Hong Kong, Mr. Huang Guoyong, Assistant to the Chairman of SCIA, Director of Global Development and Cooperation of SCIA, and a number of arbitrators from SCIA. Attendees from VICMC included President Nguyen Hung Quang, Vice-President Nguyen Ba Son, Vice-President Vu Thi Que, Mediator Luong Van Ly – Executive Member and Head of External Affairs, Mediator Nguyen Thi Huong – Deputy Head of External Affairs, Mediator Le Hung Long – Deputy General Secretary and mediators of VICMC. In particular, the signing ceremony was also welcomed Mr. Vu Trong Khang, President of the Ho Chi Minh City Commercial Arbitration Center (TRACENT) – a partner of VICMC, and many executive lawyers, dispute resolution lawyers from law firms, representatives of Vietnamese and Chinese enterprises in Ho Chi Minh City. 

At the event, Dr. Liu Xiaochun – Chairman of SCIA emphasized the importance of cooperation between Vietnamese and Chinese commercial dispute resolution practitioners to meet the needs of trade and investment cooperation between the two countries as well as in the context of international integration. He said that Vietnam is China’s largest partner in ASEAN. Therefore, the cooperation between the two Centers will facilitate Chinese and Vietnamese enterprises in handling disputes and disagreements related to trade and investment transactions. He also affirmed his pleasure in cooperating with VICMC, a newly established mediation organization after the promulgation of Vietnam’s mediation law but showing itself to be a dispute resolution center with strong development potential. 

Responding to Dr. Liu Xiaochun, Mediator Nguyen Hung Quang – President of VICMC also affirmed that the cooperation between SCIA and VICMC is to facilitate the implementation of the international mediation-arbitration mechanism (Med-Arb). The experience of SCIA – the first arbitration center established in the Guangdong – Hong Kong – Macau Bay Area (1983) with the capacity to resolve arbitration and mediation of more than 10,000 cases/year will also help VICMC gain more experience in resolving disputes with Chinese enterprises. Mr. Quang also hopes that this will be an opportunity to connect the dispute resolution community between the two countries. 

At the event, Mediator Vu Thi Que briefly introduced the legal framework for mediation and arbitration in Vietnam as well as the impact of these dispute resolution services on business development. Lawyers, mediators and arbitrators also discussed practical issues on mediation and arbitration in Vietnam and China as well as a tea party to connect.

Secretariat

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