Illustrative image (Photo: congthuong.vn) Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc has signed Decision No.14/2020/QD-TTg promulgating the Regulation on coordination in the resolution ofinternational investment disputes.
The Regulation prescribes the principles, tasks, power and process ofcoordination among state agencies, organisations and individuals concerned in settlinginternational investment disputes through international arbitration or at othertribunals outside Vietnam.
It does not apply to the settlement of investment complaints at arbitrationcentres, courts, agencies and organisations of Vietnam according to Vietnam’slaw.
Regarding the principles of coordination, the leadership agency, the legalrepresentative agency of the Government, and relevant agencies, organisationsand individuals are responsible for promoting full, effective and timelycoordination in handling international investment disputes pursuant to theprovisions of the Regulation and the Vietnamese law to optimally protect thelawful rights and interests of the Government and state agencies of Vietnam.
The leadership agency, the legal representative agency of the Government, andrelevant agencies, organisations and individuals are also obliged to keep Statesecrets and conceal the information and documents obtained during the processof dispute settlement, in accordance with the provisions in internationalarbitral proceedings and the provisions of Vietnam’s law.
The leadership agency, the legal representative of the Government, and relevantagencies, organisations and individuals must take responsibility before the lawfor the consequences incurred by their failure to coordinate in line with theaforementioned principles.
The Regulation specifies the contents of coordination, including the exchangeof information and documents among relevant agencies in the process of settlingforeign investors’ complaints, denunciations and problems in order to preventinternational investment disputes.
In addition, the agencies concerned coordinate in the resolution ofinternational investment disputes through appointing their competent persons tojoin the intersectoral working group on dispute settlement at the request ofthe leadership agency, as well as to participate in negotiating and mediatinginternational investment disputes, designing and implementing the strategy androadmap for dispute handling, and collecting and providing information,records, evidences and documents serving the settlement of internationalinvestment disputes.
These authorised individuals are also in charge of dealing with contents relatedto judgments and decisions by international arbitrators, and performing otheraffairs in the resolution of international investment disputes./.
The Regulation prescribes the principles, tasks, power and process ofcoordination among state agencies, organisations and individuals concerned in settlinginternational investment disputes through international arbitration or at othertribunals outside Vietnam.
It does not apply to the settlement of investment complaints at arbitrationcentres, courts, agencies and organisations of Vietnam according to Vietnam’slaw.
Regarding the principles of coordination, the leadership agency, the legalrepresentative agency of the Government, and relevant agencies, organisationsand individuals are responsible for promoting full, effective and timelycoordination in handling international investment disputes pursuant to theprovisions of the Regulation and the Vietnamese law to optimally protect thelawful rights and interests of the Government and state agencies of Vietnam.
The leadership agency, the legal representative agency of the Government, andrelevant agencies, organisations and individuals are also obliged to keep Statesecrets and conceal the information and documents obtained during the processof dispute settlement, in accordance with the provisions in internationalarbitral proceedings and the provisions of Vietnam’s law.
The leadership agency, the legal representative of the Government, and relevantagencies, organisations and individuals must take responsibility before the lawfor the consequences incurred by their failure to coordinate in line with theaforementioned principles.
The Regulation specifies the contents of coordination, including the exchangeof information and documents among relevant agencies in the process of settlingforeign investors’ complaints, denunciations and problems in order to preventinternational investment disputes.
In addition, the agencies concerned coordinate in the resolution ofinternational investment disputes through appointing their competent persons tojoin the intersectoral working group on dispute settlement at the request ofthe leadership agency, as well as to participate in negotiating and mediatinginternational investment disputes, designing and implementing the strategy androadmap for dispute handling, and collecting and providing information,records, evidences and documents serving the settlement of internationalinvestment disputes.
These authorised individuals are also in charge of dealing with contents relatedto judgments and decisions by international arbitrators, and performing otheraffairs in the resolution of international investment disputes./.
VNA
