Vice President of the Vietnam Lawyers Association (VLA) Duong Thanh Bac (centre) at the fourth Eastern Economic Forum (EEF) in Russia. (Photo: VNA)Moscow (VNA) – Vice President of theVietnam Lawyers Association (VLA) Duong Thanh Bac delivered a speech at a panelsession on the first day of the fourth Eastern Economic Forum (EEF) in Russia,focusing on how competitiveness is associated with national jurisdiction.
A market economy driven by rules of competition and thecompetitiveness of a country determines that country’s level of development,Bac told the session on “Competitiveness and the National Jurisdiction: A Spaceof Freedom for Business” on September 11.
A country’s competitiveness is closely linked with a freebusiness environment and the national jurisdiction, he said.
Based on Vietnamese practices, Bac raised several issuesin market economies, particularly how jurisdiction can provide legal protectionfor businesses to allow them to fairly compete with a monopoly, like astate-run company. It is very common among nations shifting from a centrally-plannedto a market economy, including Vietnam.
He added that law enforcement also puts a burden oncourts and public administrative agencies so the national jurisdiction mustease it by resolving business disputes out of court. Among these methods, arbitrationis fairly popular in Vietnam, he said.
From Vietnam’s point of view, the main pillars of a legalsystem must be the independence of courts and the development of arbitrationwith an absence of administrative pressure and fast dispute settlement, accordingto the VLA Vice President.
The improvement of the national jurisdiction will aid thegrowth of each country as it will foster a free business climate and nationalcompetitiveness. Vietnam has been carrying out reforms to strengthen nationaljurisdiction and wants to share its experiences in this area, he said.
The EEF is an international platform for discussing thestrategy for developing political, economic and cultural ties between Russiaand Asia Pacific. It also serves as a forum for the discussion of key issues inthe world economy, regional integration and the development of new industrialand technological sectors, as well as of the global challenges facing Russiaand other nations.
It has been held each September since 2015 at Far EasternFederal University in Vladivostok, Russia.
The panel session “Competitiveness and the NationalJurisdiction: A Space of Freedom for Business” was chaired by Vladimir Gruzdev,Chairman of the Board at the Association of Lawyers of Russia. It gathered Russianexperts in arbitration and legal practices and lawyers. –VNA
VNA
