Vice President of VICMC Vu Thi Que’s interview with the Japanese magazine Sailing Master

by

“VICMC is striving towards the goal of providing customers, especially Japanese businesses investing in Vietnam, services related to dispute resolution by mediation in the most professional and effective manner.”

– Excerpts from the Japanese magazine – Sailing Master’s interview with Vice President of VICMC – Ms. Vu Thi Que

Question: Currently, many foreign enterprises have participated in many business fields in Vietnam. When legal troubles and disputes occur, it is necessary to resolve the issues quickly. So can you talk about the efforts for your current activities and prospects and developments in the future?

Answer: Currently the Vietnamese legal system is still in the process of finalization. The legal documents have not been consistent. The interpretation and application of the law of government agencies and related parties have not been unified. Therefore, it is very easy to arise disputes during the investment process in Vietnam for foreign investors.

Since different important issues will arise at different times during the investment process, as a lawyer, I always try to learn about the potential legal risks and the most important issues in each investment stage, thereby providing advice and appropriate support measures to minimize the possibility of disputes for investors.

Besides, participating in the establishment of the Vietnam International Commercial Mediation Center (VICMC) is also one of my efforts to give investors in Vietnam a choice of dispute resolution in case of a dispute in Vietnam. With its outstanding advantages, dispute resolution through mediation is currently the first choice widely applied in the settlement of investment disputes in many countries around the world. Dispute resolution at the Vietnam International Trade Commercial Center (VICMC) can help the parties maintain a cooperative relationship, save costs and time and ensure confidentiality. Most importantly, a settlement agreement resulting from mediation can be recognized by a Vietnamese court and legally enforceable as a court judgment or an arbitral award.

With the headquarter located in Hanoi and branch located in Ho Chi Minh City, VICMC has a team of more than 30 experienced professional mediators, who are extensively trained and certificated by the top mediation centers in the world, including Japanese mediator. VICMC is striving towards the goal of providing customers, especially Japanese businesses investing in Vietnam, services related to dispute resolution by mediation in the most professional and effective manner.

Question: Could you please send a message to Japanese companies that have been and will invest in Vietnam?

Answer: First of all, I would like to thank Japanese businesses for their trust and investment choices in our country. I believe that many Vietnamese people always respect and love Japan as well as Japanese investors. Currently, Japan is the largest ODA provider for Vietnam and is always in the top 5 largest investors in Vietnam. Although I always hope that Vietnam will continue to welcome Japanese investors, I still want to send some of the following messages to Japanese businesses when making investments in Vietnam:

  • Learn carefully about the legal system of Vietnam from both theoretical and practical points of view to avoid being passive when implementing an investment plan if the practice of applying law differs from the theory.
  • Learn about the business culture and corporate culture of Vietnamese people to find suitable partners and keep stable long-term staff.
  • Learn carefully about the legal status, finance and business reputation of partners before deciding to cooperate.
  • Regularly update changes in the legal system in Vietnam to ensure compliance with the law throughout the investment process.
  • Pay attention to the health of Japanese employees in

Once again, I would like to thank Japanese businesses for their patience, will, determination, discipline, honesty and efficiency in investment that they have brought to Vietnam. I am very pleased and honored to continue to support investors in matters related to legal issues and dispute resolution in Vietnam.

Vietnam International Commercial Mediation Center (VICMC)

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.

INTERNATIONAL FRANCHISING ESSENTIALS: WHAT YOU MUST KNOW

Vietnam’s business landscape has transformed, shifting from hosting international franchise brands to witnessing a surge in domestic enterprises venturing into global markets, spurred by the challenges of COVID-19. Leveraging Vietnam’s culinary heritage and technological advancements, local businesses are making significant contributions to economic growth on the international stage. However, as businesses embrace this global expansion, they must equip themselves with knowledge, conduct thorough research, and formulate effective strategies to capitalize on opportunities while mitigating risks inherent in this model.

E-COMMERCE CONTRACTS: CRITICAL FACTORS TO BEAR IN MIND

In recent years, Vietnam’s e-commerce sector has witnessed remarkable growth, emerging as the preferred choice for both businesses and consumers. The surge in e-commerce contracts across this platform showcases a varied range of formats, content, and execution methods, facilitating the expansion and deregulation of commercial dealings. Yet, beneath the apparent convenience lies a web of legal intricacies, exposing implementing entities to unforeseen risks and lacking necessary legal protections.

Leave a Comment