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Visit of President Ma Zhanjun and Delegates from the Asia Pacific International Arbitration Chamber to RAJAN & TANN LCT LAWYERS in Vietnam

Release time：2024-04-09 16:01:04

On April 4, 2024, President Ma Zhanjun of the Asia Pacific International Arbitration Chamber was invited to visit RAJAN & TANN LCT LAWYERS in Vietnam. The founding partner, Director Vu Thi Que, Partner Dr. Chau Huy Quang, and Partner Nguyen Hung Du warmly welcomed President Ma Zhanjun and the delegation including Arbitrators Yu Ting and Yin Guanjun, and provided an overview of the firm's development, practice areas, and professional development.

President Ma Zhanjun provided a detailed introduction to the historical evolution of the Asia Pacific International Arbitration Chamber and its significant developments in rule innovation, talent cultivation, and international cooperation since its establishment. Currently, the Asia Pacific International Arbitration Chamber has branches or service centers in Canada, Indonesia, Malaysia, Mainland China, and Hong Kong (China), aiming to establish a comprehensive international arbitration service system for countries and regions across the Pacific Rim. The the Asia Pacific International Arbitration Chamber is committed to providing efficient and high-quality arbitration services to enterprises in the Asia Pacific region to meet the urgent needs for resolving international disputes arising from cross-border trade or investments.

RAJAN & TANN LCT LAWYERS, as a prominent law firm in Vietnam handling many significant international commercial arbitration cases, under the leadership of founding partner Director Vu Thi Que, established the Vietnam International Economic and Trade Mediation Center approved by the Ministry of Justice of Vietnam, aiming to provide alternative dispute resolution solutions for international commercial disputes between parties.

Partner Nguyen Hung Du represented in an international arbitration case with the amount of the subject matter exceeding $100 million in 2023, stating that over 70% of international legal disputes in Vietnam are resolved through international arbitration. Therefore, international arbitration plays a crucial role in Vietnam's dispute resolution system. Currently, Vietnamese parties tend to choose the Vietnam International Arbitration Center, while foreign parties typically prefer their own arbitration institutions. After negotiations, they often compromise by selecting arbitration institutions in Singapore. However, the main issue with choosing Singaporean arbitration institutions lies in their excessively high service fees, leading to hesitancy among parties to initiate arbitration. Nguyen Hung Du suggested that if the Asia Pacific International Arbitration Chamber could lower international arbitration service prices while ensuring service quality, it would become one of the preferred institutions for clients. Finally, Nguyen Hung Du inquired President Ma Zhanjun in detail about the fees charged by the Asia Pacific International Arbitration Chamber and the considerations for parties when choosing to apply to the Court.

President Ma Zhanjun responded to the lawyers' concerns as follows: Firstly, regarding fees, the Asia Pacific International Arbitration Chamber will provide two fee models: one adhering to the international practice of charging by the hour, and the other allowing parties from certain countries to choose fees based on the amount of the subject matter in dispute. Additionally, concerning the application of arbitration rules, the Asia Pacific International Arbitration Chamber will prioritize respecting the autonomy of the parties.

Lastly, both parties engaged in fruitful discussions on the implementation of the Asia Pacific International Arbitration Chamber in Vietnam and exchanged insights on the future collaborative efforts to promote the development of international arbitration in Vietnam. As one of the key regions in the Asia Pacific, with the increasing frequency of international commercial activities, the development of international arbitration holds significant importance in promoting international trade and investment among ASEAN countries, ensuring legal applicability and predictability, protecting commercial interests and confidentiality, as well as fostering arbitration culture and legal consciousness. Chairman Ma Zhanjun stated that the Asia Pacific International Arbitration Chamber is committed to providing strong legal protection for international trade and investment, both within and outside the region, through more professional, efficient, and internationalized arbitration legal services.

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