Question: Please ask, according to the law, what forms are there to resolve disputes related to business investment activities in Vietnam?

Reply:

Forms of dispute resolution related to business investment activities in Vietnam

According to Clause 1, Article 14, Investment Law 2020, disputes related to business investment activities in Vietnam are resolved through negotiation and mediation.

In case no negotiation or conciliation is possible, the dispute will be resolved at Arbitration or Court according to the provisions of Clauses 2, 3 and 4, Article 14, Investment Law 2020 (section 2).

Authority to resolve disputes related to business investment activities in Vietnam

Authority to resolve disputes related to business investment activities in Vietnam according to Clauses 2, 3 and 4, Article 14, Investment Law 2020 is as follows:

(1) Disputes between domestic investors, economic organizations with foreign investment capital or between domestic investors, economic organizations with foreign investment capital and relevant competent state agencies Business investment activities in the territory of Vietnam are resolved through Vietnamese Arbitration or Vietnamese Courts, except for the cases specified in (2) of this section.

(2) Disputes between investors in which at least one party is a foreign investor or economic organization specified in Points a, b and c, Clause 1, Article 23, Investment Law 2020 shall be resolved through one of the following agencies and organizations:

- Vietnamese Court;

- Vietnamese Arbitration;

- Foreign arbitration;

- International arbitration;

- Arbitration is established by agreement between the disputing parties.

Economic organizations specified in Points a, b and c, Clause 1, Article 23, Investment Law 2020 include:

+ There are foreign investors holding more than 50% of charter capital or the majority of partners are foreign individuals for economic organizations that are partnerships;

+ There is an economic organization specified in Point a, Clause 1, Article 23, Investment Law 2020 holding more than 50% of charter capital;

+ There are foreign investors and economic organizations specified in Point a, Clause 1, Article 23, Investment Law 2020 holding more than 50% of charter capital.

(3) Disputes between foreign investors and competent state agencies related to investment and business activities in Vietnamese territory are resolved through Vietnamese Arbitration or Vietnamese Courts, except in cases where In cases where there is another agreement under a contract or an international treaty to which the Socialist Republic of Vietnam is a member, there are different provisions.

Regulations on ensuring business investment activities

Regulations on ensuring business investment activities according to Article 11, Investment Law 2020 are as follows:

- The State does not require investors to comply with the following requirements:

+ Priority is given to purchasing and using domestic goods and services or must purchase and use goods and services from domestic manufacturers or service providers;

+ Export of goods or services reaches a certain rate; restrict the quantity, value, type of goods and services exported or produced and supplied domestically;

+ Import goods in quantity and value corresponding to the quantity and value of exported goods or must balance foreign currency from export sources to meet import needs;

+ Achieve localization rate for domestically produced goods;

+ Achieving a certain level or value in research and development activities in the country;

+ Providing goods and services at a specific location domestically or abroad;

+ Set up the head office at the location required by the competent state agency.

- Based on socio-economic development conditions and the need to attract investment in each period, the Prime Minister decides to apply forms of State guarantee to implement investment projects under his authority. Approve the investment policies of the National Assembly, the Prime Minister and other important infrastructure development investment projects.