VIAC met with President of the Vietnam Lawyers Association Nguyen Khanh Ngoc

On the morning of February 20^th, 2025, the Vietnam International Arbitration Centre (VIAC) met with Mr. Nguyen Khanh Ngoc, President of the Vietnam Lawyers Association on the occasion of the Association’s new Executive Board appointment for the 2024–2029 term. Discussion focused on organizational activities and future potential areas of collaboration, with an emphasis on the development and revision of the Law on Arbitration, led by the Vietnam Lawyers Association.

Overview of the Meeting between VIAC and the Vietnam Lawyers Association

Representing VIAC at the Meeting was Lawyer Vu Anh Duong, Permanent Vice President cum General Secretary of the Vietnam International Arbitration Centre (VIAC) along with specialized staff from the Hanoi Office. Mr. Nguyen Khanh Ngoc, President of the Vietnam Lawyers Association and specialized personnel attended on behalf of the Vietnam Lawyers Association.

At the beginning of the meeting, Mr. Vu Anh Duong extended his congratulations to Mr. Nguyen Khanh Ngoc on his election as President of the Vietnam Lawyers Association at its 14th Congress.

Lawyer Vu Anh Duong, Permanent Vice President cum General Secretary of VIAC and Mr. Nguyen Khanh Ngoc, President of the Vietnam Lawyers Association

Regarding the amendment of the Law on Commercial Arbitration, directed by the Vietnam Lawyers Association, Lawyer Vu Anh Duong hoped that the revision would bring about groundbreaking changes, thereby advancing the arbitration framework in Vietnam. On behalf of VIAC, he affirmed VIAC’s commitment to actively engage, support, and collaborate with the Vietnam Lawyers Association in the process of amendment.

In response to VIAC’s insights, Mr. Nguyen Khanh Ngoc, President of the Vietnam Lawyers Association emphasized the vision of making Vietnam a preferred arbitration hub regionally and internationally. It is crucial to ensure close coordination among institutions, agencies and the government to establish a favorable legal and institutional environment for arbitration.

Regarding the amendment of the Law on Commercial Arbitration, President Nguyen Khanh Ngoc emphasized that a well-executed revision would help strengthen Vietnam’s judicial index and public trust in the country’s legal system. This, in turn, would contribute to national development in the new era. Additionally, a strong arbitration framework would provide greater confidence for foreign investors and entrepreneurs.

Mr. Nguyen Khanh Ngoc, President of the Vietnam Lawyers Association

According to Mr. Nguyen Khanh Ngoc, “Our FDI attraction policies are considered open by global standards, but challenges remain in judicial constraints throughout the investment process".

With import-export turnover reaching approximately $800 billion, Vietnam has a vast legal market; however, legal support remains limited, with foreign legal services still dominating. Given this, the President of the Vietnam Lawyers Association remarked: "Domestic arbitration centers, especially VIAC, have made significant efforts. However, compared to the market's potential and demand, their presence remains relatively small."

“While current laws have created a favorable environment for arbitration, they primarily focus on expansion rather than depth. No country has 40-50 arbitration centers", he further noted, stressing the need for discussions, recommendations on the amended law before seeking approval from relevant authorities and institutionalizing it.

Overview of the Meeting

Key issues discussed in the meeting includes service quality, positioning Vietnam as a regional and international arbitration hub, amending the Law on Commercial Arbitration and enhancing the credibility and effectiveness of the arbitration system. Both the Vietnam Lawyers Association and VIAC shared valuable insights and recommendations to promote the development of arbitration in Vietnam, and affirmed their commitment to continued collaboration and partnership in the future.