||Enforcement of Contracts in Vietnam and the Risks of Bilateral Investment Treaty (BIT) Disputes
Net, Le ,
Vinh Nguyen Thi, KimJoseph, McDonnell
The Gakushuin Journal of International Studies
66 , 2016-03
The Constitution in force (1992) consists of 147 articles divided into twelve chapters after a preamble, embodying the policy and legislation of Doi Moi. As for the political system, it is stipulated that: “The State promotes a multi-component commodity economy functioning in accordance with market mechanisms under the management of the State and following a socialist orientation. The multi-component economic structure with various forms of organization of production and trading is based on a system of ownership by the entire people, by collectives, and by private individuals, of which ownership by the entire people and by collectives constitutes the foundation.” This article provides an acute analysis of the structural and procedural provisions of the frameworks for contract enforcement in Vietnam, addressing both domestic and foreign transactional disputes and the key issues associated with these. The link between Doi Moi, and consequential integration with the international economy and the influence of collective interests stipulated in the Constitution are discussed in this article, and we also consider examples from other jurisdictions to provide both insight and an understanding into this relationship that defines contract enforcement in Vietnam.