Vietnamese businesses must stay vigilant and do their homework to avoid trade and legal disputes in exporting to the UK to take full advantage of the United Kingdom-Vietnam Free Trade Agreement (UKVFTA), which officially went into effect last May.
To date, Việt Nam has signed 15 FTAs with many countries and regions, of which the UK-Việt Nam Free Trade Agreement (UKVFTA) was the latest put into force in May last year.
The trend of international economic integration has been opening up many trade opportunities for the Vietnamese business community. However, there are also many scams that cause local firms to suffer heavy losses.
As online commerce grows in Viet Nam, regulations on consumer protection and disputes should be strengthened, experts said at a conference held on November 10 in HCM City.
With trade protectionism increasing, VN firms should prepare for trade-related lawsuits and disputes but also capitalise on opportunities from the ongoing US-China trade war.
Vietnamese and foreign firms are increasingly resorting to arbitration for settling disputes related to mergers and acquisitions, experts told a conference in HCM City on December 20.
Using mediation to resolve commercial disputes and conflicts would not only help enterprises save time but also help them maintain good relations with business partners, a workshop heard in HCM City on August 16.
The Ministry of Construction has asked the people’s committees of Ha Noi and HCM City to report existing disputes between buyers and developers at apartment projects before the end of this month.
When both court and arbitration have jurisdiction over the
resolution of disputes arising from the performance of commercial
contracts, ing the appropriate mode of resolution will help the
parties ensure the benefits of the process and save a lot of time,
effort and money.
International arbitration would be helpful for businesses in
settling trade and investment disputes in the context of Viet Nam
integrating rapidly into the global economy, experts said on July 20.