Online platform on international dispute management introduced
(VOVWORLD) -The Vietnam International Arbitration Center on Wednesday launched an online platform on international dispute management, which is part of the series “Cross-border trade and investment in the context of economic instability: Disputes and Arbitration”.
 Delegates activate the online platform (Photo: VOV) |
The participants said that Vietnam has become deeply integrated in the global economy after joining many bilateral and multilateral Free Trade Agreements. International transactions and disputes have also increased in complexity due to differences in politics, law, and language.
Vu Tien Loc, Chairman of the Vietnam International Arbitration Center, said the digital economy is one of the three pillars of Vietnam’s national digital transformation. The government has set a target for at least 50% of enterprises to use e‑contracts by 2025, so an online dispute management mechanism will contribute to achieving these targets.
“At the macro-level, electronic contracts or normal contracts to be used by civil entities should have elements to ensure the implementation of the contract. If problems occur during the implementation, there should be a guarantee mechanism. I believe that the online platform will be a mechanism to guarantee contract implementation for electronic contracts, contributing to the national target of a powerful digital economy,” said Mr. Loc.