Vietnam has officially launched and commenced operations of the Vietnam International Financial Centre (VIFC), marking a significant milestone in its financial modernisation and global integration strategy. As Vietnam positions itself as a regional financial hub, the effectiveness of its dispute resolution framework – particularly arbitration – will play a critical role in shaping investor confidence.
Building on earlier discussions of Vietnam’s international financial centre (“IFC“) framework and enforcement practice, this article adopts a broader comparative and operational perspective, focusing on the court–arbitration interface and institutional capacity in an IFC environment.
While Vietnam’s legal framework for arbitration is broadly aligned with international standards, the key question is whether its institutional capacity and judicial practice are sufficiently developed to support complex, high-value cross-border disputes in an IFC environment.
Comparative experience from leading arbitration jurisdictions suggests that the effectiveness of arbitration is shaped not only by legislation but also by judicial practice. Successful arbitration systems depend on: (i) consistent judicial practice; (ii) strong institutional capacity; (iii) technological efficiency; and (iv) international integration. Accordingly, Vietnam’s task is to develop an arbitration ecosystem that is not only legally sound but also operationally effective and internationally credible.
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