Research and clarify the functions and tasks of the Center for Prevention of International Investment Disputes

(Chinhphu.vn) - On the morning of November 13, Deputy Prime Minister Ho Quoc Dung chaired a meeting with the Ministry of Justice on the Project to establish a Center for Prevention and Resolution of International Investment Disputes.

The Deputy Prime Minister requested that the drafting agencies must clearly study the functions and tasks of the Center for Prevention and Settlement of International Investment Disputes, clearly defining the core task of guiding preventive measures - Photo: VGP/Gia Huy

The meeting aimed to review and give opinions on the Project to establish the Center for Prevention and Resolution of International Investment Disputes (Project), ensuring that the Project is comprehensively developed with clear functions and tasks.

At the meeting, the Ministry of Justice reported on the implementation of the task of "Researching and developing a project to establish an agency/unit/center specializing in resolving foreign investment, thereby focusing on investing in human and material resources to prevent and limit disputes, and improve the effectiveness of resolving international disputes".

Specifically, based on the Prime Minister's direction, the Ministry of Justice has drafted the Project and sent documents to relevant ministries, branches, localities and units requesting their comments on the draft Project. Up to now, the Ministry of Justice is in the process of revising the draft Project based on the comments.

The draft Project will include the necessity of developing the Project; objectives, guiding viewpoints; scope of the Project and content of the Project; proposed options for establishing the Center for Prevention and Resolution of International Investment Disputes.

The Deputy Prime Minister requested relevant units to urgently complete the draft Project comprehensively, clarify key contents to submit to the Government as soon as possible - Photo: VGP/Gia Huy

Speaking at the meeting, Deputy Prime Minister Ho Quoc Dung affirmed that the establishment of a specialized agency for resolving international investment disputes is necessary. However, for the Center for Prevention and Resolution of International Investment Disputes to operate effectively, the core role lies not only in handling disputes when they have occurred, but more importantly, proactively preventing them from arising, causing complicated lawsuits that are costly and affect national interests.

The Deputy Prime Minister requested that the drafting agencies must clearly study the functions and tasks of the Center, clearly defining the core task of guiding preventive measures.

The Center's preventive function must be specifically demonstrated through the following tasks: Guiding and strengthening control. The Center must be the focal point to guide ministries, branches and localities in state management of investment, ensuring strict and legal processes and procedures.

In addition, early and timely legal support should be provided to localities right from the time of project acceptance, during appraisal and operation, ensuring that there are no legal loopholes. Establish a warning system to detect early potential risks that may lead to disputes so that timely measures can be taken.

Deputy Prime Minister Ho Quoc Dung requested relevant units to urgently complete the draft Project comprehensively, clarify key contents to submit to the Government as soon as possible.

Gia Huy

Source: https://baochinhphu.vn/nghien-cuu-lam-ro-chuc-nang-nhiem-vu-cua-trung-tam-phong-ngua-tranh-chap-dau-tu-quoc-te-102251113105234972.htm