Vietnam Current Investment And Trade Issues And Solutions

The Government of Vietnam has made certain success in stabilizing the economy to reach a high growth rate projection in 2015 by World Bank (i.e., 6%) and maintain import-export balance over the five years. Nevertheless, there are a lot of outstanding issues which should be further addressed as analysed below:

1. Enforcement and recognition of arbitral awards – Status, issues and solutions

The major regulatory framework on arbitration proceedings in Vietnam includes the Law on Commercial Arbitration No. 54/2010/QH12, which took effect on 1 January 2011 ("Arbitration Law") and replaced the Ordinance on Commercial Arbitration ("Arbitration Ordinance") in 2003; Decree No. 63/2011/ND-CP of the Government on detailing the implementation of certain regulations in the Arbitration Law ("Decree No. 63/2011") and Resolution No. 01/2014/NQ-HDTP by the Vietnamese Supreme Court guiding the implementation of a number of regulations in the Arbitration Law ("Resolution No. 01").