Evolving to perfection? Enforcement of international arbitral awards in Vietnam
Turksen, U., Blanco, E. and Dung, A. T. (2010) Evolving to perfection? Enforcement of international arbitral awards in Vietnam. The journal of world investment and trade, 11 (6).
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Following ‘Doi-moi’, accession to the WTO and liberalisation of foreign investment, the volume of trade and commercial transactions in Vietnam have increased. Arbitration, being the preferred method for dispute resolution in international commercial circles has been at the centre of this change. Vietnam has had a plethora of legal instruments on the enforcement of international arbitral awards, which have been subject to evolution, renovation and reform. However, the history and the current legal practice pertaining to the enforcement of arbitration awards reveal that Vietnam still has to take major steps to improve the integrity and efficiency of its commercial arbitration system. This paper endeavours to fill the existing gap in the academic knowledge base in this growing but incipient area in Vietnam, by providing a critique of both the current Vietnamese arbitration regime as well as the imminent legislative reforms therein. In doing so a number of constructive and feasible suggestions are also provided.