📋 Tender Overview
The Government issued Decree No. 328/2025/ND-CP regulating the International Arbitration Center under the International Financial Center in Vietnam. Regulations on the establishment and operation of the International Arbitration Center. This Decree details and guides the implementation of Point c2, Clause 1, Article 9, Clause 3, Article 30 of Resolution No. dated June 27, 2025 of the National Assembly on the International Financial Center in Vietnam (hereinafter referred to as Resolution No. 222/2025/QH15) on the establishment and operation of the International Arbitration Center under the International Arbitration Center. international arbitration center in Vietnam (hereinafter referred to as the International Arbitration Center); standards for founders and arbitrators of the International Arbitration Center. This Decree applies to the following subjects: International Arbitration Center, founders and arbitrators of the International Arbitration Center; members of the International Financial Center, investors, organizations and individuals involved in investment, business activities and dispute resolution at the International Arbitration Center; Executive agency, International Financial Center Supervision Agency; Other relevant agencies, organizations and individuals. The International Arbitration Center is licensed to be established by the Minister of Justice. The Decree stipulates that the International Arbitration Center is licensed to be established by the Minister of Justice when there are at least 05 founders who meet the qualifications prescribed in this Decree to request its establishment. The International Arbitration Center is located at the International Financial Center in Ho Chi Minh City and has legal status, seal, separate account, and operates independently. Organization and finance. The establishment, registration of operation, and announcement of the establishment of the International Arbitration Center shall comply with the provisions of the law on commercial arbitration and this Decree. Operations of the International Arbitration Center The Decree regulating the operations of the International Arbitration Center shall comply with the provisions of the law on commercial arbitration, Resolution No. 222/2025/QH15 and this Decree. Rights and obligations of the International Arbitration Center shall be implemented. according to the provisions of law on commercial arbitration. The International Arbitration Center is responsible for ensuring effective, fair and transparent operation. The application of foreign laws by the International Arbitration Center is carried out in accordance with the provisions of Clause 2, Article 6 of Resolution No. 222/2025/QH15 and Clause 2, Article 14 of In case the parties agree to resolve disputes at the International Arbitration Center, the disputing parties have the right to agree to waive the right to request The court annulled the decision to recognize the parties agreement or the legally effective arbitration award of the Arbitration Council of the International Arbitration Center. The Court will not entertain a request to cancel the award or decision of the Arbitration Council when the parties have agreed in writing to waive this right. The agreement to waive the right to request the Court to cancel the decision to recognize the agreement of the parties or the legally effective arbitration award of the Arbitration Council of the International Arbitration Center is part of the arbitration agreement according to the provisions of commercial arbitration law. The Court may not refuse to resolve a request to cancel the award or decision of the Arbitration Council. in the following cases: a) The renunciation agreement falls into the cases of invalid agreement specified in Article 18 of the Commercial Arbitration Law; b) The agreement is made after the time one party submits a request to cancel the award or decision of the Arbitration Council to the Court. Competence to resolve disputes of the International Arbitration Center The Decree stipulates that the International Arbitration Center has the authority to resolve disputes according to the agreement between the parties related to investment and business activities in China. International financial center according to the rules and regulations issued by the International Arbitration Center, except for the following disputes: a) Disputes whose object is an administrative decision or administrative act of a state management agency or competent person; b) Disputes related to labor; c) Disputes related to personal rights of individuals; d) Other issues related to state management that have been resolved by judgments or decisions of competent state management agencies or courts. has authority in Vietnam. Termination of operations of the International Arbitration Center According to the Decree, the operation of the International Arbitration Center terminates in the following cases: a) The establishment license and operation registration certificate are revoked according to the provisions of law on commercial arbitration; b) Cases specified in the Charter of the International Arbitration Center. The order, procedures, and authority to terminate the operation of the International Arbitration Center comply with the provisions of law on commercial arbitration. Standards of founders and arbitrators of the International Arbitration CenterThe Decree stipulates that a person who meets the following standards can be a founder of the International Arbitration Center: a) Be a Vietnamese citizen; b) Have full civil law capacity and civil act capacity according to the provisions of the Civil Code; c) Have a university degree or higher; d) Have an English proficiency of level 5 or higher in the 6-level foreign language competency framework used for Vietnam by Ministry of Educationand Promulgated training or equivalent; d) Have at least 10 years of practical experience in resolving disputes by arbitration relate
