Law on Specialized Courts at the International Financial Center in Vietnam: A Legal Breakthrough starting 2026

1. Organizational Model and Location

The Specialized Court at the International Financial Center is a court within the People's Court system, headquartered in Ho Chi Minh City.

The organizational structure is designed to be streamlined and professional, including:

• First Instance Court.

• Appellate Court.

• Assisting apparatus.

Regarding personnel, the Court has a Chief Justice, Deputy Chief Justices, Chief Judges, Deputy Chief Judges, Judges, Court Clerks, and other civil servants. Notably, the Chief Justice and Deputy Chief Justices are appointed by the Chief Justice of the Supreme People's Court for a 5-year term.

2. Key Highlight: Foreign Judges

One of the most "outstanding" features of this Law is the regulation on Judge standards. For the first time, Vietnamese law allows foreign nationals to become Judges adjudicating in Vietnam if they meet strict conditions:

• Expertise: Currently or formerly a foreign judge, lawyer, or reputable expert.

• Experience: At least 10 years of experience in adjudicating or resolving cases related to investment and business.

• Language: Must have English language proficiency to adjudicate and resolve cases.

• Age & Health: Not over 75 years old and in good health.

For Judges who are Vietnamese citizens, the Law also mandatorily requires English proficiency and 10 years of relevant experience.

3. Jurisdiction

The Specialized Court has jurisdiction to settle cases at the International Financial Center (excluding cases related to public interests/State interests), specifically:

- Investment and Business Disputes: Between IFC members or between an IFC member and other organizations/individuals.

- Recognition and Enforcement: Of foreign court judgments/decisions or foreign arbitral awards related to IFC members.

- Arbitration Support: Requests related to arbitration resolving disputes in accordance with the law on commercial arbitration.

- Other Cases: Related to investment activities at the IFC as stipulated by the Supreme People's Court.

4. Vision and Resources

According to Chief Justice of the Supreme People's Court Nguyen Van Quang, this is a new and challenging law project, applying principles of the Common Law system to align with international practices.

To ensure effective operation, in addition to the central and local budgets, the Law (Article 42) allows the mobilization of other legal resources outside the state budget. This demonstrates open thinking, aimed at creating a transparent, fair, and world-class legal environment right in Vietnam.

The full text of the approved draft can be viewed here.

Source: Approved draft.

The information contained in this article is general and intended only to provide information on legal regulations. DB Legal will not be responsible for any use or application of this information for any business purpose. For in-depth advice on specific cases, please contact us.

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