Vietnam's Recognition and Enforcement of Foreign Arbitral Awards and Preparation for EVFTA

SECO/WTI Academic Cooperation Project Working Paper Series 2017/18

109 Pages Posted: 13 Dec 2017

See all articles by Linh Nguyen Phuong

Linh Nguyen Phuong

Foreign Trade University (FTU)

Anh Dinh Hoang

Foreign Trade University (FTU)

Giang Chu Thanh

Central Economic Commission

Date Written: December 2017

Abstract

Arbitration activities in Vietnam is becoming a popular choice of investors in dispute resolution. However, European investors in Vietnam repeatedly raised concerns that it is extremely difficult in practice to achieve the recognition and enforcement of foreign arbitral awards through the Vietnamese courts. Now the European - Vietnam Free Trade Agreement (EVFTA) which is expected to take effect in 2018 has imposed a new two-tier investment court system (ICS) for investors-States dispute settlement (ISDS) instead of traditional arbitration-based ISDS. This paper focuses on analysing the compatibility between the ICS mechanism and Vietnam legal framework and current practice in recognition and enforcement of foreign arbitral awards, thereby proposing some recommendations for Vietnam’s preparation with the EVFTA ahead.

Keywords: EVFTA, ISDS, Investment Court, ICS, Vietnam

JEL Classification: K33

Suggested Citation

Nguyen Phuong, Linh and Dinh Hoang, Anh and Chu Thanh, Giang, Vietnam's Recognition and Enforcement of Foreign Arbitral Awards and Preparation for EVFTA (December 2017). SECO/WTI Academic Cooperation Project Working Paper Series 2017/18. Available at SSRN: https://ssrn.com/abstract=3087176 or http://dx.doi.org/10.2139/ssrn.3087176

Linh Nguyen Phuong (Contact Author)

Foreign Trade University (FTU) ( email )

91 Chua Lang St
Dong Da District
Hanoi, Hochiminh city 10000
Vietnam

Anh Dinh Hoang

Foreign Trade University (FTU) ( email )

91 Chua Lang St
Dong Da District
Hanoi, Hochiminh city 10000
Vietnam

Giang Chu Thanh

Central Economic Commission ( email )

Vietnam

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