Is arbitration only as good as the arbitrator? Undoubtedly. Choosing an arbitrator is therefore one of the most pivotal decisions a party makes in the arbitration proceedings. In practice in Vietnam, many arbitration proceedings have been significantly prolonged because of multiple unsuccessful appointments arising from conflicts of interest, challenges by the opposing party, or subsequent unavailability. In other cases, additional expenses were incurred where appointed arbitrators were located far from the hearing venue or were unfamiliar with the arbitration language or applicable law. To preempt these issues and secure a more efficient and cost-effective appointment, this article proposes a practical, step-by-step approach to arbitrator selection. Step 1: Know Your Own Case At the outset, it is essential to develop a clear understanding of the dispute by addressing the following key considerations: Nature of the dispute: From which sector does it arise (e.g., construction, international trade, investment, banking and finance, technology, intellectual property)? Value and complexity: Is the dispute high or low in value? Does it involve multiple parties, multiple legal systems, or foreign elements? Is its crux related to multiple legal matters? Existing arbitration agreement: Does the agreement specify the seat, language, and governing law? If not, what would be appropriate considering the parties’ conduct and the applicable arbitration rules? Having clear answers to these questions in mind will help identify, from the outset, the core criteria for selecting an appropriate arbitrator. Step 2: Form Your Candidate Pool Based on the understanding developed in Step 1, a candidate pool should be formed through a structured and careful process: Researching Arbitrator Profiles At the initial stage, comprehensive research should be conducted via reliable sources to ensure both accuracy and diversity of candidates. Official sources, such as lists of arbitrators published by arbitral institutions, most notably the Vietnam International Arbitration Centre

Amid increasing financial globalization, Vietnam’s establishment of an International Financial Center (IFC) represents a strategic initiative to attract high-quality foreign investment and enhance the country’s position in the global financial system. In support of this objective, a Specialized Court was introduced under Resolution No. 222/2025/QH15 as a dedicated dispute resolution mechanism within the IFC framework. The Specialized Court at the IFC was subsequently operationalized by Law on the Specialized Court No. 150/2025/QH15, effective from January 1, 2026. Organizational Structure of the Specialized Court The Specialized Court at the IFC is a court within the system of the People’s Courts, organized and operating in accordance with the Law on the Specialized Court, and vested with jurisdiction to adjudicate and resolve cases at the IFC. The Specialized Court is located in Ho Chi Minh City and comprises (i) a Court of First Instance; (ii) a Court of Appeal, and (iii) a supporting apparatus. Jurisdiction of the Specialized Court The jurisdiction of the Specialized Court at the IFC is strictly defined based on both (i) the subject matter of the cases and (ii) the membership status of the parties involved. Specifically, the Specialized Court has jurisdiction over (except for cases involving public interests or the interests of the state) the following: Disputes arising from investment and business activities. Requests for recognition and enforcement in Vietnam of judgments and decisions of foreign courts and foreign arbitral awards. Requests related to dispute resolution by arbitration. Other disputes directly related to investment and business activities (to be specified by the Supreme People’s Court). Additionally, at least one party in the case must be a member of the IFC. The IFC’s membership status is established through registration, recognition as a member, or the grant of a license for establishment and operation within the IFC. In the

In December 2025, the National Assembly of Vietnam enacted a new Law on Construction, replacing the 2014 Law on Construction as amended in 2020. The 2025 Law on Construction will, in principle, take effect on July 1, 2026, subject to certain exceptions. Among its notable reforms, one development has attracted particular attention from both legal practitioners and market participants: the introduction of a statutory framework governing predetermined damages, commonly referred to as “liquidated damages.” This marks the first time liquidated damages have been expressly recognized at the level of primary legislation in Vietnam. While liquidated damages clauses have long been a common feature of construction contracts in practice, their legal enforceability has historically been subject to uncertainty. Although the new provision appears to represent a positive step toward greater legal clarity, it remains an open question whether it is sufficient, on its own, to provide a solid legal basis for the enforceability of liquidated damages clauses in construction disputes in Vietnam. What’s New? Article 86.2 of the 2025 Law on Construction provides (emphasis added): “Compensation for damages shall be determined on the basis of actual damages [or] predetermined damages corresponding to obligations under the construction contracts that are breached [and] the extent of such breaches.” This provision is significant in that it expressly recognizes predetermined damages, or liquidated damages, as a lawful basis for determining compensation for damage. However, the new law does not define “predetermined damages.” The absence of a statutory definition creates potential ambiguity as to the scope and nature of this concept and may give rise to disputes over how—and whether—a particular contractual clause qualifies as predetermined damages for the purposes of Article 86.2. Further, Article 86.2 qualifies the application of predetermined damages by requiring that such damages correspond to the obligations not fulfilled and the

Tilleke & Gibbins has authored the Vietnam chapter in International Trade 2026, published by Chambers and Partners. The guide offers comprehensive coverage of international trade regulation in leading jurisdictions and serves as a practical resource for organizations engaged in global trade and investment. The Vietnam chapter addresses a wide range of trade-related issues, including: WTO participation and regional and bilateral trade agreements Customs administration, enforcement, and applicable legal instruments Sanctions regimes and enforcement authorities Export controls, sensitive exports, and licensing requirements Antidumping and countervailing duty investigations and reviews Investment security mechanisms and notification requirements Subsidies, incentives, and measures affecting domestic production Standards, technical requirements, and sanitary and phytosanitary measures Geographical indications and other regulatory measures affecting trade In addition to outlining the current regulatory landscape, the chapter discusses recent developments and anticipated changes relevant to businesses trading with or operating in Vietnam. Chambers’ International Trade 2026 guide brings together contributions from leading law firms worldwide, offering up-to-date, jurisdiction-specific insight into the evolving global trade environment. Tilleke & Gibbins also contributed the Thailand chapter to International Trade 2026. A PDF of the Vietnam chapter can be downloaded through the button below, and the full International Trade 2026 guide is available for free on the Chambers and Partners website.