Int'l Arbitration Center Opens in HCM City
The Pacific International Arbitration Centre (PIAC) has recently inaugurated in the southern metropolis of Ho Chi Minh City, aiming to provide an un-biased venue to settle trade disputes in Vietnam.
The independent, non-profit arbitration center will offer alternative dispute resolution services, including mediation and arbitration. It promises an impartial and transparent forum to resolve conflicts objectively.
PIAC, located in the Sun Wah Tower, 115 Nguyen Hue Boulevard, local District 1, will meet regional and global integration needs, said Nguyen Dang Trung, president of the city Bar and PIAC president at the opening ceremony.
“Unlike Vietnam's five commercial arbitration centers already in operation, our lawyers are proficient in English and can handle the increase in foreign-related lawsuits as more foreign investors come to do business in Vietnam," Trung said.
Arbitrators at PIAC are leading legal specialists in various fields, he said, adding that the center also made a list of arbitrators who are foreign lawyers working in Vietnam, in case parties concerned do not need local lawyers from the center.
Trung said international arbitration centers in Singapore, Hong Kong and Kuala Lumpur would help PIAC train staff, organize conferences, host seminars and orchestrate the exchange of expertise. (TN Daily, Vietnam Law)
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