[Research Document] An overview of emerging Arbitration in Vietnam

Over the course of the past 40 years, arbitration, as an international dispute resolution mechanism, has gained significant global traction. Certain jurisdictions, such as London, Hong Kong, Singapore, Geneva, and New York, are considered arbitration powerhouses, not only for being home to preeminent arbitration firms and boutiques, but also due to the strength of the lex arbitri, and the relevant supporting framework, in promoting these jurisdictions as preferred seats of arbitration. Nevertheless, the role of the UNCITRAL Model Law in harmonising the global arbitration framework, as well as the proactiveness of individual arbitral institutions and the support of the judiciary, has enabled lesser-known jurisdictions to reposition themselves as emerging centres ready to have a piece of the proverbial “arbitration pie”. In this regard, the Asian International Arbitration Centre (AIAC) decided to dedicate a portion of the Newsletter published in August, 2020 and the next edition thereafter to survey emerging arbitration jurisdictions, through the lens of leading practitioners from the relevant jurisdictions. Part I of this survey is showcased in this edition of the AIAC Newsletter and canvasses four emerging jurisdictions in the Asia-Pacific region – Malaysia (by Tan Sri Dato’ Cecil Abraham), the Philippines (by Patricia-Ann T. Prodigalidad), Thailand (by Vanina Sucharitkul), and Vietnam (by Dzung Mahn Nguyen).