Vietnam Int’l Arbitration Centre receives 180 disputes in 2018
The Vietnam International Arbitration Centre (VIAC) received 180 disputes in 2018, with total dispute value amounting to 9.4 trillion VND (404.2 million USD), heard a workshop in Ho Chi Minh City on January 11.
HCM City (VNA) – The VietnamInternational Arbitration Centre (VIAC) received 180 disputes in 2018, withtotal dispute value amounting to 9.4 trillion VND (404.2 million USD), heard aworkshop in Ho Chi Minh City on January 11.
Statistics show that the concerned parties hailed from 60 countries worldwideand 50 Vietnamese cities and provinces.
It took the centre about 150 days to address each case. Only one percent of theVIAC’s rulings were abrogated over the past five years.
VIAC Permanent Vice President and Secretary General Vu Anh Duong said thedisputes covered different sectors such as trade, investment and services.
The centre is working on online procedural steps, while striving to improve itsoperational quality and human resources, towards transparent and effectivedispute settlement.
Chau Viet Bac, VIAC Deputy Director in HCM City, stressed the need for businessesto understand the role of commercial arbitration and mediation.
VIAC is an independent and non-profit organisation.The objective of VIAC is to promote the dispute resolution method ofarbitration or alternative dispute resolutions (ADR). VIAC has a strong desireof building up an objective, impartial and reliable method of disputeresolution which also ensures the effectiveness and convenience. VIAC hasbeen considering as a reputable arbitration institute in Vietnam and gains muchof reliance of domestic and international business communities. Theorganisation has about 170 arbitrators and 50 mediators. -VNA
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At the workshop (Source: thuonghieuvaphapluat.vn) 
