Decree 328/2025/ND-CP on the International Arbitration Center of the International Financial Center in Vietnam

DECREE

On the International Arbitration Center of the International Financial Center in Vietnam^[1]

Pursuant to Law No. 63/2025/QH15 on Organization of the Government;

Pursuant to Law No. 54/2010/QH12 on Commercial Arbitration, which is amended and supplemented by Law No. 81/2025/QH15 Amending and Supplementing a Number of Articles of the Law on Organization of People’s Courts;

Pursuant to Resolution No. 222/2025/QH15 on the International Financial Center in Vietnam;

At the proposal of the Minister of Justice;

The Government promulgates the Decree on the International Arbitration Center of the International Financial Center in Vietnam.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree details and guides the implementation of Point c2, Clause 1, Article 9; and Clause 3, Article 30, of the National Assembly’s Resolution No. 222/2025/QH15 of June 27, 2025, on the International Financial Center in Vietnam (below referred to as Resolution No. 222/2025/QH15) regarding the establishment and operation of the International Arbitration Center of the International Financial Center in Vietnam (below referred to as the International Arbitration Center); and criteria for founding members and arbitrators of the International Arbitration Center.

Article 2. Subjects of application

1. The International Arbitration Center, and its founding members and arbitrators.

2. Members of the International Financial Center, investors, organizations and individuals involved in investment, business and dispute resolution activities at the International Arbitration Center.

3. The Executive Bodies and the Supervisory Body of the International Financial Center.

4. Other related agencies, organizations and individuals.

Chapter II

ESTABLISHMENT AND OPERATION OF THE INTERNATIONAL ARBITRATION CENTER

Article 3. Establishment of the International Arbitration Center

1. The International Arbitration Center shall be licensed for establishment by the Minister of Justice when at least 5 founding members who fully meet the criteria specified in Clause 1, Article 7 of this Decree apply for such establishment.

2. The International Arbitration Center is located at the Ho Chi Minh City-based International Financial Center and has the legal person status, its own seal and bank account, and operates independently in terms of organization and finance.

3. The establishment, registration of operation, and announcement of the establishment of the International Arbitration Center must comply with the law on commercial arbitration and this Decree.

Article 4. Operation of the International Arbitration Center

1. The operation of the International Arbitration Center must comply with the law on commercial arbitration, Resolution No. 222/2025/QH15 and this Decree.

2. The rights and obligations of the International Arbitration Center must comply with the law on commercial arbitration.

3. The International Arbitration Center shall operate in an efficient, fair and transparent manner.

4. The application of foreign laws by the International Arbitration Center must comply with Clause 2, Article 6 of Resolution No. 222/2025/QH15 and Clause 2, Article 14 of the Law on Commercial Arbitration.

5. In case the parties agree to resolve the dispute at the International Arbitration Center, the disputing parties have the right to agree to waive the right to request a court to annul the decision to recognize the parties’ agreement or the legally effective arbitral award of the Arbitral Tribunal of the International Arbitration Center. The court shall not resolve the request to annul the award or decision of the Arbitral Tribunal when the parties have agreed in writing to waive this right.

6. The agreement to waive the right to request a court to annul the decision to recognize the parties’ agreement or the legally effective arbitral award of the Arbitral Tribunal of the International Arbitration Center constitutes part of the arbitration agreement in accordance with the law on commercial arbitration.

The court may not refuse to settle requests to annul the award or decision of the Arbitral Tribunal in the following cases:

a/ The waiver agreement falls into the cases of null and void agreements as specified in Article 18 of the Law on Commercial Arbitration;

b/ The agreement is made after a party submits a request to annul the award or decision of the Arbitral Tribunal to the court.

Article 5. The International Arbitration Center’s jurisdiction to resolve disputes

1. The International Arbitration Center has the jurisdiction to resolve disputes arising from investment and business activities at the International Financial Center based on agreement of the disputing parties and in accordance with its rules and regulations, except the disputes specified in Clause 2 of this Article.

2. The International Arbitration Center shall not resolve:

a/ Disputes in which objects are administrative decisions or administrative acts of state management agencies or competent persons;

b/ Labor-related disputes;

c/ Disputes relating to individuals’ personal rights;

d/ Other issues relating to state management, which have been resolved by judgments or decisions of competent state management agencies or competent courts in Vietnam.

Article 6. Termination of operation of the International Arbitration Center

1. The International Arbitration Center shall have its operation terminated if:

a/ Having its establishment license or operation registration certificate revoked in accordance with the law on commercial arbitration; or,

b/ Falling into the cases provided in the Charter of the International Arbitration Center.

2. The procedures and competence for termination of operation of the International Arbitration Center must comply with the law on commercial arbitration.

Article 7. Criteria for founding members and arbitrators of the International Arbitration Center

1. A person may act as a founding member of the International Arbitration Center if satisfying all of the following criteria:

a/ Being a Vietnamese citizen;

b/ Having the full civil legal capacity and full civil act capacity in accordance with the Civil Code;

c/ Possessing a university or higher degree;

d/ Demonstrating English proficiency at level 5 or higher in the 6-level Foreign Language Proficiency Framework for Vietnam issued by the Ministry of Education and Training, or an equivalent qualification;

dd/ Having at least 10 years’ experience in resolving investment and business disputes by arbitration; priority shall be given to those having specialized knowledge in finance and banking;

e/ Having engaged in issuing at least 10 arbitral awards;

g/ Being an arbitrator of an arbitration center established under Vietnam’s law.

2. Arbitrators of the International Arbitration Center include Vietnamese citizens and foreign citizens. The International Arbitration Center shall provide criteria for its arbitrators.

3. Persons who may not act as arbitrators:

a/ Incumbent judges, procurators, investigators, enforcers or civil servants of People’s Courts, People’s Procuracies or judgment enforcement agencies;

b/ Persons who are the accused or defendants, who are serving criminal sentences or who have served criminal sentences but not have had their criminal records expunged.

Chapter III

IMPLEMENTATION PROVISIONS

Article 8. Implementation provisions

1. This Decree takes effect on December 18, 2025.

2. In case the documents referred to in this Decree are amended, supplemented or replaced, the corresponding provisions of the amending, supplementing or replacing documents shall apply.

Article 9. Implementation responsibility

Ministers, heads of ministerial-level agencies, heads of government-attached agencies, the Chairperson of the People’s Committee of Ho Chi Minh City, the Chairperson of the People’s Committee of Da Nang city, and related organizations and individuals shall implement this Decree.-

On behalf of the Government
Prime Minister
PHAM MINH CHINH