Finding common ground in resolving investment disputes for businesses

The dialogue conference on investment dispute resolution mechanism for enterprises is a forum to equip legal knowledge for agencies, units and enterprises in Ha Tinh , thereby finding solutions to limit the occurrence of disputes.

Delegates attending the conference.

On the morning of September 12, the Department of Justice held a dialogue conference on the mechanism for resolving investment disputes for businesses in the context of economic recovery and development in Ha Tinh province.

Finding common ground in resolving investment disputes for businesses

Deputy Director of the Department of Justice Nguyen Quoc Tuan opened the conference.

In his opening speech, Deputy Director of the Department of Justice Nguyen Quoc Tuan said: In recent times, the economic situation has recovered and achieved impressive results. However, along with the development, there have also been challenges and problems arising, including legal issues. If these issues are not thoroughly resolved, they will lead to disputes, especially investment disputes. This is an extremely complicated issue.

Therefore, the conference is an opportunity for agencies, units and enterprises in the area to better understand legal regulations, assess the investment dispute situation; existing problems and limitations and find effective solutions to limit the occurrence of disputes.

Finding common ground in resolving investment disputes for businesses

Vice Chairman - General Secretary of the Provincial Business Association Nguyen Tien Trinh mentioned the current situation of operations and recovery of businesses after COVID-19.

At the conference, delegates heard about the mechanism for resolving investment disputes under current Vietnamese law; some recommended solutions for businesses to limit the occurrence of investment disputes; the current state of operations and recovery of businesses after COVID-19; liability for compensation for damages for breach of contract and issues to note; common business disputes and solutions...

In a frank and open spirit, the delegates also discussed and answered questions related to the dispute resolution mechanism in the investment sector for enterprises in the province and some situations that occur in practice.

Finding common ground in resolving investment disputes for businesses

Master Tran Thi Tu Anh (Ha Tinh University) proposed that it is necessary to add regulations requiring parties to continue to perform their obligations while in the process of dispute resolution.

Some opinions suggest that it is necessary to add a provision that negotiation and conciliation is a mandatory step and must be carried out before the parties bring the dispute to court or arbitration; add a provision requiring the parties to continue to perform their obligations while the dispute is being resolved...

Strengthen monitoring, inspection, supervision, and urging of project implementation after the decision to approve the investment policy and investment registration certificate is issued. In case the project is delayed for a long time due to the investor's side, the investor is unable to continue implementing, it is necessary to carry out procedures and processes to terminate the project in accordance with regulations... In addition, delegates also proposed a number of solutions to improve the effectiveness of law enforcement on compensation for damages.

Closing the conference, Deputy Director of the Department of Justice Nguyen Quoc Tuan requested the local justice departments to continue to closely coordinate with the Department of Justice in providing legal support to businesses. Businesses need to proactively study legal regulations as well as international treaties on dispute resolution mechanisms; when necessary, they can consult experts, lawyers, and people knowledgeable about the law to limit legal risks.

Thuy Duong

Source