On August 11, 2023, the Vietnam Society of International Law (VSIL) together with Foreign Trade University held a seminar on Friendly settlement of investment disputes: Mediation and other other dispute resolutions.
The seminar is an event held within the framework of FDI Moot – Vietnam National Round. Mediators of Vietnam International International Commercial Mediation Center (VICMC) – sponsor of the competition participated as speakers at the seminar.
The Vietnam Society of International Law includes Lawyer Nguyen Hung Quang – Vice Chairman of VSIL, President of VICMC; Master Le Duc Hanh – Director of the Department of Law and International Treaties, Ministry of Foreign Affairs, Member of the Executive Committee of VSIL; Master Nguyen Huu Phu – Deputy Director of the Department of Laws & International Treaties, Ministry of Foreign Affairs; Member of VSIL Executive Committee; Master Nguyen Thanh Tung – Lecturer of the Faculty of International Law, Diplomatic Academy.
On the side of Foreign Trade University, there was the participation of Assoc.Prof. Pham Thu Huong – Vice Principal; Assoc. Dr. Nguyen Ngoc Ha – Vice Dean, Faculty of Law; Dr. Ha Cong Anh Bao – Vice Dean of the Faculty of Law and lecturers of the university.
On the side of VICMC, there was Lawyer Nguyen Tuan Phat – VICMC Mediator, Legal Director of Asia Clean Capital Vietnam.
At the seminar, the speakers gave speeches related to the settlement of investment disputes by mediation. Specifically, Lawyer Dinh Anh Tuyet – Founding and managing member of IDVN, from her practical experience, has suggested the potential development of the mediation mechanism in disputes between investors and the State in investment agreements of Vietnam.
In addition, Lawyer Nguyen Tuan Phat shared a speech on mediation of investor-state disputes in the field of renewable energy – a booming field in the period of 2019-2012 in Vietnam. However, the disputes related to this field should be taken care of and therefore, it is necessary to have solutions to settle disputes related to the Power Purchase Agreement through mediation.
With the motto of “Prevention is better than avoidance”, Lawyer Nguyen Hung Quang shared how to prevent state and investor disputes through the Systematic Investment Response Mechanism (SIRM) and the development of SIRM is appropriate and necessary in the current context of Viet Nam.
The seminar ended successfully with sharings and lessons learned from countries around the world. In the future, the regulations on investment dispute settlement in general and investment dispute settlement by mediation in particular will be more improved, becoming a trend in Vietnam to align with the global economic development.