Vice President of the Vietnam Lawyers Association (VLA) Duong Thanh Bac (centre) at the fourth Eastern Economic Forum (EEF) in Russia. (Photo: VNA)Moscow (VNA) – Vice President of the Vietnam Lawyers Association (VLA) Duong Thanh Bac delivered a speech at a panel session on the first day of the fourth Eastern Economic Forum (EEF) in Russia, focusing on how competitiveness is associated with national jurisdiction.
A market economy driven by rules of competition and the competitiveness of a country determines that country’s level of development, Bac told the session on “Competitiveness and the National Jurisdiction: A Space of Freedom for Business” on September 11.
A country’s competitiveness is closely linked with a free business environment and the national jurisdiction, he said.
Based on Vietnamese practices, Bac raised several issues in market economies, particularly how jurisdiction can provide legal protection for businesses to allow them to fairly compete with a monopoly, like a state-run company. It is very common among nations shifting from a centrally-planned to a market economy, including Vietnam.
He added that law enforcement also puts a burden on courts and public administrative agencies so the national jurisdiction must ease it by resolving business disputes out of court. Among these methods, arbitration is fairly popular in Vietnam, he said.
From Vietnam’s point of view, the main pillars of a legal system must be the independence of courts and the development of arbitration with an absence of administrative pressure and fast dispute settlement, according to the VLA Vice President.
The improvement of the national jurisdiction will aid the growth of each country as it will foster a free business climate and national competitiveness. Vietnam has been carrying out reforms to strengthen national jurisdiction and wants to share its experiences in this area, he said.
The EEF is an international platform for discussing the strategy for developing political, economic and cultural ties between Russia and Asia Pacific. It also serves as a forum for the discussion of key issues in the world economy, regional integration and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.
It has been held each September since 2015 at Far Eastern Federal University in Vladivostok, Russia.
The panel session “Competitiveness and the National Jurisdiction: A Space of Freedom for Business” was chaired by Vladimir Gruzdev, Chairman of the Board at the Association of Lawyers of Russia. It gathered Russian experts in arbitration and legal practices and lawyers. –VNA
VNA
