Scientific seminar: Vietnamese Commercial Law in Integration period

24 Sep, 2021

In terms of integration context, Vietnamese Commercial Law has been facing many new challenges in terms of definition, handling and enforcement. On November 18^th morning, University of Economics Ho Chi Minh City (UEH) organized "Vietnamese commercial law in the integration period" conference with participation from a large number of scholars, lecturers and legal experts.

This conference, in spite of being organized through "hybrid" method, is honored to welcome a variety of leading delegates and experts in legal field to attend through both face-to-face and online methods with the assistance of Cisco Webex platform.

Speaking at conference opening, Prof. Dr. Sử Đình Thành – UEH President – delivered a welcoming speech to a large number of guests and researchers attending at the conference. Professor remarked that: “Vietnam is facing many opportunities and challenges from the market economy from integration period, the provisions of commercial law need to be recognized and studied to contribute to creating a legal corridor open for economic development in Vietnam in the new era.”

The conference held in face-to-face and online format through Cisco Webex platform

The conference was divided into two main sessions. The first session, co-chaired by Assoc. Prof. Dr. Phạm Duy Nghĩa - Fulbright University Vietnam, Former Dean of Law Faculty, Member of Scientific Council of Law Faculty and Dr. Dương Kim Thế Nguyên - Dean of Law Faculty, UEH School of Economics, Law and State Administration, centered around common issues of commercial law and commercial activities. Opening the conference, Dr. Dương Kim Thế Nguyên confirmed that, after more than 25 years of establishment and development, Vietnamese Commercial Law has gradually gained an important position in private law system, as one important link between the laws governing the specialized commercial activities with Civil Law Code; however, some contents of General part of Commercial Law 2005 need to be adjusted for better suiting the new trend. The discussion session was conducted around the need of provision amendment in General part of Commercial law in synchronizing regulation direction in private law field.

Dr. Dương Kim Thế Nguyên - Dean of Law Faculty, UEH School of Economics, Law and State Management co-chaired the seminar

Dr. Trịnh Thục Hiền commented on the importance of commercial practices as a formality source in commercial legal system during integration period whereas MSc. Võ Phước Long - Faculty of Law, UEH School of Economics, Law and State Management believed that it is necessary to boldly move towards a synchronous private law system instead of continuing to create inconsistencies between two sources of law that jointly regulate the commercial law.

Dr. Trịnh Thục Hiền commented on the importance of commercial practices

MSc. Võ Phước Long emphasized the necessity of boldly moving towards a synchronous private law system

Sharing similar viewpoints, MSc. Nguyễn Công Phú - Former Judge, Deputy Chief of Economic Court, People's Court of Ho Chi Minh City - pointed out a number of shortcomings through the practical implementation and application of provisions in both the Civil Code and Commercial Law. MSc. Nguyễn Ngọc Anh’s thesis from Hanoi Law University, assessing the current status of regulations governing commercial brokerage activities, especially in the context of the current outstandingly-developing digital economy, contributed to enriching content and providing a multi-dimensional view at the conference.

MSc. Nguyễn Công Phú - Former Judge, Deputy Chief of Economic Court, Ho Chi Minh City People's Court was sharing his viewpoints

MSc. Nguyễn Ngọc Anh from Hanoi Luat University with her paper

The second session was chaired by Lawyer Trương Nhật Quang - Executive Lawyer of YKVN, Member of Scientific Council of Law Faculty and Dr. Nguyen Thị Anh - Vice Dean of Law Faculty, UEH School of Economics, Law and State Administration with the discussion around issues of commercial sanctions and commercial dispute resolution. Dr. Vũ Thế Hoài - Faculty of Law, Saigon University, asserted that violation fines and damage compensation in law and practice have shown many shortcomings due to the conflict between provisions in Commercial Law and Civil Law; concurrently, proposing to supplement regulations that allow the parties in a commercial contract relationship to agree on a given level of compensation.

2^nd discussion session

MSc. Nguyễn Ngọc Trâm Anh - UEH School of Economics, Law and State Management further clarified the obligations to limit losses among parties in a commercial contractual relationship when a contract breach occurs, leading to sanctions regarding damage compensation, concurrently, recognizing the need for more guidance and law cases in the coming time for dispute resolution process to take place effectively.

MSc. Nguyễn Ngọc Trâm Anh was reporting her paper

Doctor-Lawyer Lương Khải Ân - Ho Chi Minh City Law Association analyzed the inadequacies in regulations on late payment interest in commercial and service transactions and proposed amendment measures in the coming time. More specifically, the seminar also received a presentation from author group as Doctoral students and Graduate students at Law Faculty who were researching on online commercial dispute resolution, a new issue but major research topic within commercial dispute settlement field in the upcoming time.

Papers from a group of authors as Doctoral students and Graduate students at Faculty of Law

The seminar received a variety of participating articles with diverse perspectives around Commercial Law topic. The research contents were actively discussed through two interesting discussion sessions.

Further information regarding summary record of this online seminar can be searched here.

Additional photos taken at the Seminar: