Ninh Binh (VNA) – The Working Group III – Investor-State Dispute Settlement Reform of the United Nations Commission on International Trade Law (UNCITRAL) convened its 10th intersessional meeting in the northern province of Ninh Binh on September 7.
Co-organised by the Ministry of Justice and the UNCITRAL Secretariat, the three-day event brings together nearly 250 delegates, experts and speakers from more than 60 countries and territories, including representatives of member states, observers of Working Group III, international organisations, and experts and scholars in investment law and international investment dispute settlement.
Addressing the opening session, Deputy Minister of Justice Dang Hoang Oanh emphasised that this is the first time Vietnam has hosted an intersessional meeting of the working group.
Vietnam highly values the pivotal role played by UNCITRAL and Working Group III in reforming investor-state dispute settlement, contributing to dialogue, enhancing the participation of countries and stakeholders, and building consensus on solutions to issues arising in practice.
By hosting the 10th intersessional meeting, Vietnam wishes to continue playing an active and proactive role in UNCITRAL in general and Working Group III in particular, working alongside the international community to strengthen cooperation, share experience and contribute to the development of the international legal framework.
The intersessional meeting is set to focus on standing mechanisms – the permanent tribunal and the permanent appellate tribunal – as well as the assessment of damage and compensation.
Discussions at the meeting will provide further grounds for Working Group III to continue refining reform options, with a view to establishing a more effective, transparent, consistent and balanced mechanism that harmonises the interests of states and investors.
The meeting also offers a valuable opportunity for Vietnam to enhance exchanges and share experience on emerging legal issues arising from international investment activities, contributing to improving the capacity of Vietnamese officials in studying and implementing international legal standards./.