A branch of the APEC Vietnam International Commercial Arbitration (VICA) Center has been launched in central Da Nang city.
Thanks to the branch, businesses and investors will have faster, more transparent options for resolving disputes, according to a report from the Vietnam News Agency.
The VICA Centre has introduced its branch in the city to promote commercial arbitration and mediation support activities for businesses and investors with dispute settlement in central Vietnam.
Director of the city’s Department of Science and Technology Nguyen Thanh Hong said the establishment of the centre plays an important role in fulfilling the city’s legal ecological system in favor of the establishment of an International Finance Centre (IFC) in Da Nang.
Chairman and General Director of the APEC VICA Da Nang branch Do Van Chuoc said the center will boost cooperation with the on-building IFC and expand activities in Da Nang and neighbouring provinces and cities in central Vietnam.
It is a positive step in providing legal settlement for trade and intellectual property disputes as well as improving transparency and publicity, and building trust among global investors, he said.
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