Prime Minister Nguyen Xuan Phuc has signed Decision No. 14/2020/QĐ-TTg promulgating the Regulation on coordination in the resolution of international investment disputes.
Prime Minister Nguyen Xuan Phuc has signed Decision No. 14/2020/QĐ-TTg promulgating the Regulation on coordination in the resolution of international investment disputes.
The regulation prescribes the principles, tasks, power and process of coordination among state agencies, organisations and individuals concerned in settling international investment disputes through international arbitration or at other tribunals outside Vietnam.
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| The regulation prescribes the principles, tasks, power and process of coordination among state agencies, organisations and individuals concerned in settling international investment disputes through international arbitration or at other tribunals outside Vietnam. (Photo: congthuong.vn) |
It does not apply to the settlement of investment complaints at arbitration centres, courts, agencies and organisations of Vietnam according to Vietnam’s law.
Regarding the principles of coordination, the leadership agency, the legal representative agency of the Government, and relevant agencies, organisations and individuals are responsible for promoting full, effective and timely coordination in handling international investment disputes pursuant to the provisions of the Regulation and the Vietnamese law to optimally protect the lawful rights and interests of the Government and state agencies of Vietnam.
The leadership agency, the legal representative agency of the Government, and relevant agencies, organisations and individuals are also obliged to keep State secrets and conceal the information and documents obtained during the process of dispute settlement, in accordance with the provisions in international arbitral proceedings and the provisions of Vietnam’s law.
The leadership agency, the legal representative of the Government, and relevant agencies, organisations and individuals must take responsibility before the law for the consequences incurred by their failure to coordinate in line with the aforementioned principles.
The Regulation specifies the contents of coordination, including the exchange of information and documents among relevant agencies in the process of settling foreign investors’ complaints, denunciations and problems in order to prevent international investment disputes.
In addition, the agencies concerned coordinate in the resolution of international investment disputes through appointing their competent persons to join the intersectoral working group on dispute settlement at the request of the leadership agency, as well as to participate in negotiating and mediating international investment disputes, designing and implementing the strategy and roadmap for dispute handling, and collecting and providing information, records, evidences and documents serving the settlement of international investment disputes.
These authorised individuals are also in charge of dealing with contents related to judgments and decisions by international arbitrators, and performing other affairs in the resolution of international investment disputes.
(Source:NDO)
