Hanoi (VNA) - The 15th National Assembly on December 5 discussed the draft law on the establishment of a specialised court at the International Financial Centre (IFC) at its ongoing 10th session.
Many deputies agreed that establishing this court is necessary to institutionalise the Party’s policies and conclusions of the competent authorities. The court aims to provide a fast and effective mechanism for resolving disputes arising from business and investment activities at the International Financial Centre, using modern procedures aligned with international practices.
Deputy Le Thu Ha from Lao Cai province highlighted that this represents a breakthrough institutional step - the first time Vietnam is creating an internationalised judicial body on its territory to handle globally significant commercial disputes, enhancing the country’s legal competitiveness in the region.
“The new model must operate smoothly, transparently, and be trusted both domestically and internationally. The investment environment is only truly strengthened when the rulings of the specialised court are enforced, protect the parties’ rights, and build lasting confidence,” she noted.
She suggested that the draft law ensure three key criteria: international competitiveness, fast and transparent procedures with language friendly to global business standards; protection of judicial sovereignty while opening access without compromising legal security and public interest; and effective enforceability, ensuring rulings can be executed domestically and internationally.
Many other lawmakers agreed that appointing qualified foreign judges could help meet immediate needs, attract high-quality, experienced personnel, and provide opportunities for Vietnamese judges and court clerks to learn and improve their expertise. They also recommended clearly defining criteria for foreign judges regarding reputation, ethics, and professional qualifications.
Explaining the drafting process, Chief Justice of the Supreme People’s Court Nguyen Van Quang noted that this is a completely new model for Vietnam. The drafting agency had to proactively research foreign experiences while adhering to the principles of National Assembly Resolution No. 222/2025/QH15 on the International Financial Centre in Vietnam.
He emphasised that the draft is currently a “preliminary foundation” that will continue to be refined in practice, with the ultimate goal of building investor confidence and strengthening Vietnam’s competitiveness in resolving commercial and financial disputes.
On the afternoon of December 5, the National Assembly discussed the draft law amending and supplementing certain articles of the Law on Citizen Reception, the Law on Complaints, and the Law on Denunciations./.
Lawmakers scrutinise foreign judges for IFC, back new energy framework
Chief Justice of the Supreme People’s Court Nguyen Van Quang described the employment of foreign judges as a pivotal factor establishing the credibility with global investors in an international financial environment.
