The Law on Specialized Courts in International Financial Centres was passed by the National Assembly on the morning of December 11th. The law consists of 5 chapters and 44 articles, and will come into effect on January 1st, 2026.
This law applies to specialized courts, members of international financial centers, investors, agencies, organizations, and individuals involved in resolving cases falling under the jurisdiction of specialized courts.
The specialized court at the International Financial Centre is a court within the people's court system, organized and operating in accordance with the provisions of this Law, with jurisdiction to hear and resolve cases at the International Financial Centre.
Members of Parliament unanimously passed the Law on Specialized Courts at the International Finance Centre (Photo: Hong Phong).
The law clearly stipulates the establishment of a specialized court located in Ho Chi Minh City.
The organizational structure of a specialized court includes: the first-instance court; the appellate court; and supporting staff.
Specialized courts have a chief judge, deputy chief judge, chief of court, deputy chief of court, judges, court clerks, other public officials, and employees.
Specifically, the chief judge and deputy chief judge of specialized courts are appointed, dismissed, and removed from office by the Chief Justice of the Supreme People's Court. The term of office for the chief judge and deputy chief judge is 5 years from the date of appointment. The chief judge and deputy chief judge of specialized courts are selected and appointed from among the judges of those specialized courts.
Regarding regulations concerning judges, the Law clearly states that judges of specialized courts may be foreigners or Vietnamese citizens.
Foreign judges must meet several standards and conditions, such as having been or currently being a foreign judge; being a reputable lawyer or expert with good moral character, relevant professional knowledge, and a thorough understanding of investment and business law; and having at least 10 years of experience in adjudicating and resolving cases related to investment and business activities.
Foreign judges must also have English language proficiency to preside over and resolve cases in specialized courts, and must not be over 75 years old and have the health to ensure they can fulfill their assigned duties.
Judges who are Vietnamese citizens must have a good reputation, high moral character, appropriate professional knowledge, and a thorough understanding of investment and business law; they must also have at least 10 years of experience in adjudicating and resolving cases related to investment and business activities. In particular, the law clearly states the requirement that they "must have English language proficiency to adjudicate and resolve cases in specialized courts."
Judges are appointed by the President of Vietnam on the recommendation of the Chief Justice of the Supreme People's Court, and their term of office is 5 years from the date of appointment.
Judges may be removed from office if they are convicted by a legally binding court judgment, violate ethical standards, or engage in misconduct that renders them unfit to hold the office.
Chief Justice of the Supreme People's Court Nguyen Van Quang presents the report explaining and responding to feedback before the National Assembly (Photo: Hong Phong).
According to the law, specialized courts have jurisdiction to handle the following cases, except those involving public interest or the interests of the State:
- Cases involving investment and business activities between Members of the International Financial Centre or between Members of the International Financial Centre and other organizations or individuals that are not Members of the International Financial Centre.
- Requests for recognition and enforcement in Vietnam of judgments and decisions of foreign courts, and awards of foreign arbitration tribunals resolving disputes between members of the International Financial Centre or between members of the International Financial Centre and other organizations or individuals that are not members of the International Financial Centre.
- Requests relating to arbitration for the resolution of disputes between members of the International Financial Centre or between members of the International Financial Centre and other organizations or individuals that are not members of the International Financial Centre, as stipulated by the law on commercial arbitration.
- Other cases involve investment and business activities at an international financial center where at least one party is a member of the international financial center as stipulated by the Supreme People's Court.
The Law on Specialized Courts in the International Financial Centre consists of 5 chapters and 44 articles, and will come into effect on January 1, 2026.
Source: https://dantri.com.vn/thoi-su/tham-phan-toa-an-chuyen-biet-phai-co-nang-luc-tieng-anh-de-xet-xu-20251211105542450.htm
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