VIAC co-organized the Seminar “Let’s Talk About Vietnam: Arbitration Reform, the VIFC and the Construction Law 2025”

On 27 August 2026, the Vietnam International Arbitration Centre (VIAC), the Society of Construction Law Vietnam (SCLVN), and YKVN Lawyers jointly organized the seminar “Let’s Talk About Vietnam: Arbitration Reform, VIFC & Construction Law 2025” at Maxwell Chambers, Singapore, as part of Singapore Convention Week 2026.

The seminar focused on two key areas that are currently receiving significant attention in Vietnam: Developments in arbitration law and practice in the context of judicial reform and the establishment of the Vietnam International Financial Centre (VIFC); and key changes introduced by the 2025 Construction Law that are directly relevant to contracts, as well as the prevention and resolution of construction disputes. The discussions brought together experienced arbitrators, lawyers, and legal experts from Vietnam and abroad, providing an opportunity to exchange perspectives and practical insights on these important developments.

Mr. Dang Khai Minh, Senior Partner of YKVN, delivers remarks at the event

In his opening remarks, Mr. Dang Khai Minh, Senior Partner of YKVN and moderator of the program, expressed his gratitude, on behalf of the three organizing institutions, to the Singapore Ministry of Law for facilitating the successful organization of the first Vietnam-focused event held under the framework of SC Week 2026. Mr. Minh also expressed his pleasure at YKVN’s opportunity to welcome VIAC and SCLVN to this event.

Mr. Vu Anh Duong, Permanent Vice President cum Secretary General of VIAC

Mr. Vu Anh Duong - Permanent Vice President cum Secretary General of VIAC - emphasized the practical requirements for further improving the dispute resolution framework. He noted that, alongside the development of investment and business activities, the demand for arbitration in Vietnam is undergoing significant changes. Cases are increasing not only in number but also in diversity of subject matter, complexity of legal relationships, and the large value of disputes. These practices place greater demands on arbitral institutions to continuously enhance the quality of their services and their capacity to meet the needs of businesses.

For VIAC, these requirements are reflected in the adoption of the VIAC Arbitration Rules 2026, efforts to strengthen the quality of its panel of arbitrators and enhanced professional cooperation and exchange with domestic and international organizations and experts. Furthermore, VIAC places a strong emphasis on promoting awareness of arbitration and other dispute resolution mechanisms, thereby helping businesses take a more proactive approach to preventing and managing legal risks.

Mr. Nguyen Nam Trung, Chairman of the Society of Construction Law of Vietnam (SCLVN)

Mr. Nguyen Nam Trung, Chairman of the Society of Construction Law of Vietnam (SCLVN) spoke about the new requirements arising for contract management and construction dispute resolution as Vietnam undertakes a growing number of large-scale infrastructure and construction projects, with increasingly complex contractual relationships and the involvement of multiple domestic and international stakeholders.

According to Mr. Nguyen Nam Trung, the rapid and robust development expected in Vietnam’s construction sector in the coming years will require the legal framework and dispute resolution institutions to align more closely with international practices and standards. Updating the legal framework, particularly the new provisions under the Construction Law 2025, together with promoting early risk prevention mechanisms such as Dispute Boards and strengthening the professional capacity of practitioners, will be key to ensuring project progress, minimizing conflicts, and reinforcing the confidence of both domestic and international investors.

The first panel discussion, “Arbitration Reform & VIFC,” was moderated by Mr. Dang Khai Minh, Senior Partner at YKVN, and featured Dr. Dang Xuan Hop, Head of the VIAC Advisory Board and VIAC Arbitrator; Mr. Nguyen Manh Dung, Chairman of the Executive Board of the International Arbitration Centre under the Vietnam International Financial Centre (VIFCA) and VIAC Arbitrator; Mr. Pham Minh Thang, Partner at YKVN; and Mr. Jimmy Yim SC, Chairman of Drew & Napier.

The speakers discussed notable changes in Vietnam’s legal and arbitration landscape, including the ongoing development of the legal framework for arbitration, the growth of arbitral institutions, the establishment of the international financial centre, and emerging dispute resolution mechanisms. The discussion also focused on the conditions necessary for arbitration to continue serving as an effective means of dispute resolution, responsive to the increasingly diverse needs of businesses and investors.

The first panel discussion, “Arbitration Reform & VIFC,” was moderated by Mr. Dang Khai Minh, Senior Partner at YKVN, and featured Dr. Dang Xuan Hop, Head of the VIAC Advisory Board and VIAC Arbitrator; Mr. Nguyen Manh Dung, Chairman of the Executive Board of the International Arbitration Centre under the Vietnam International Financial Centre (VIFCA) and VIAC Arbitrator; Mr. Pham Minh Thang, Partner at YKVN; and Mr. Jimmy Yim SC, Chairman of Drew & Napier.

Mr. Pham Minh Thang provided an overview of the notable changes taking place in Vietnam’s arbitration landscape, from institutional and regulatory developments to the establishment of the international financial centre and new dispute resolution mechanisms. In his view, the convergence of these developments is opening a new phase for arbitration and dispute resolution in Vietnam.

Drawing on more than two decades of experience observing and participating in arbitration in Vietnam, Dr. Dang Xuan Hop noted a number of positive developments: an increasing number of high-value disputes, greater professionalism among disputing parties, continued improvements by arbitral institutions in their rules and case management practices, as well as evolving judicial attitudes towards arbitration.

From the perspective of the International Financial Centre, Mr. Nguyen Manh Dung shared insights into the development of dispute resolution institutions tailored to the needs of an international financial centre. According to Mr. Nguyen Manh Dung, the establishment of specialized mechanisms is aimed at creating a reliable legal environment, while also demonstrating Vietnam’s efforts to further improve its investment and business environment and enhance the effectiveness of dispute resolution.

Drawing on Singapore’s experience, Mr. Jimmy Yim SC further discussed the conditions necessary for a country to establish an environment conducive to international arbitration. Building on these insights, the panelists considered the question: Where does Vietnam stand in its journey towards becoming an increasingly favorable and trusted seat for arbitration?

The discussions highlighted that strengthening the arbitration framework is not merely about meeting businesses’ dispute resolution needs. An effective arbitration system, supported appropriately by the courts and capable of inspiring confidence among its users, can also contribute to improving the overall quality of Vietnam’s investment and business environment.

Overview of the second discussion session

The second panel discussion focused on the Construction Law 2025, which came into effect on 1 July 2026. The session was moderated by Mr. Dang Khai Minh, Senior Partner at YKVN, with the participation of Mr. Do Khoi Nguyen, Partner at YKVN and VIAC Arbitrator; Mr. Nguyen Nam Trung, Chairman of the Society of Construction Law of Vietnam (SCLVN) and VIAC Arbitrator; Assoc. Prof. Dr. Tran Viet Dung, Vice Rector of the Ho Chi Minh City University of Law and VIAC Arbitrator; and Mr. Michael E. Schneider, Founding Partner and Senior Counsel at LALIVE.

From the perspective of contract practice and dispute resolution, the speakers analyzed several key changes introduced by the Law on Construction 2025 that may directly affect businesses, project owners, and contractors. The discussion focused on pre-agreed/liquidated damages, the use of international standard forms of contract such as FIDIC and NEC, as well as the potential application of Dispute Boards (DABs) and international dispute resolution mechanisms in projects in Vietnam.

Opening the session, Mr. Do Khoi Nguyen provided an overview of several significant changes introduced by the Law on Construction 2025, which replaces the Law on Construction 2014 and took effect on 1 July 2026. According to him, the new Law reflects a shift in the approach to construction management, moving away from prior approval mechanisms towards greater emphasis on post-implementation supervision. With respect to construction contracts, he highlighted three key points: the application of the Civil Code to matters not specifically regulated by the Law on Construction; Article 86, which provides a legal basis for agreements on pre agreed damages; and Article 86.5, which addresses dispute resolution mechanisms. He also drew attention to the transitional provisions applicable to contracts signed before the new Law took effect. His presentation provided a foundation for the subsequent speakers to explore these issues in greater depth.

Regarding Dispute Boards, Mr. Nguyen Nam Trung noted that the Law on Construction 2025 and Decree No. 210/2026/ND-CP have created a more favorable legal basis for the application of this mechanism in Vietnam. This represents a notable development for construction projects, particularly large-scale projects and those involving international elements. Nevertheless, he emphasized that significant work remains to be done before Dispute Boards can be widely adopted in practice, including developing a pool of qualified experts, preparing detailed implementing guidance, and carrying out pilot projects to generate practical experience.

On pre-agreed damages, Assoc. Prof. Dr. Tran Viet Dung focused on Article 86.2 of the Law on Construction 2025. He discussed how the relationship between actual damages and the amount of compensation pre-agreed by the parties may be understood, while also identifying several issues that require further clarification to ensure that the new provision is interpreted and applied consistently in practice.

From the perspective of a practitioner with extensive experience in international construction arbitration, Mr. Michael E. Schneider, Founding Partner and Senior Counsel at LALIVE provided additional insights from civil law jurisdictions on the issue of pre-agreed damages. He also discussed the significance of the changes to Vietnam’s construction law framework in comparison with international practice and standards.

Through the Seminar, VIAC, SCLVN and YKVN sought to provide lawyers, businesses, and international practitioners with updated information on the legal framework and dispute resolution practices in Vietnam. The participation of both Vietnamese and international experts also enabled emerging issues to be examined from multiple perspectives, including applicable legal provisions, practical implementation, and international experience.

For VIAC, its participation in and co-organization of professional activities as part of Singapore Convention Week forms part of its broader efforts to strengthen international cooperation, exchange experiences, and introduce Vietnam’s arbitration practice to the international community. The discussions in Singapore also provided valuable insights and references for VIAC’s continued efforts to enhance the quality of arbitration, as well as the prevention and resolution of disputes in Vietnam