Vietnamese Government sued by four foreign investors

July 23, 2015 1:30 pm
The Ministry of Justice has said that it will be the “legal
representative” for the Vietnamese government in four lawsuits lodged
with the International Council of Arbitration by four foreign investors.
 


This May PetroVietnam won an international case.

According to the Justice Ministry, the four foreign investors are Recofi, TVB, Saigon Metropolitan, and Sezako.
The
Ministry of Justice said that several provinces had been engaged in
resolving international investment disputes. HCM City has implemented
the overall scheme on settlement of disputes between the Government and
foreign investors in the city and the regulations of coordination among
government agencies.
Relating to lawsuits against the Vietnamese
government, at the end of 2014 the Permanent Arbitration Council in The
Hague (the Netherlands) issued a verdict for the lawsuit lodged by
French investor DialAsie against the Government of in the
international kidney hospital in HCM City.
Accordingly, the
plaintiff’s claims against the Vietnamese Government were completely
rejected; each party had to pay half the cost of arbitration and bear
the costs of hiring lawyers themselves under the provisions of the
UNCITRAL Arbitration Rules. The Vietnamese government did not have to
pay any compensation to DialAsie.
“This is the second win of the
Vietnamese government after the win in the South Fork case that was
ruled in December 2013. In the context that the Government of Vietnam is
the defendant in a series of lawsuits of international investors and
some investors are threatening to sue the Government of Vietnam, the win
in this lawsuit is very important,” said Mr. Tran Tien Dung, the
Justice Ministry spokesman in a press conference last December.
In
May, the Vietnam Oil and Gas Group (PetroVietnam) announced that the
International Council of Arbitration was on the side of Petrovietnam in
disputes over tax incentives under a product sharing contract, related
to an oil field offshore Vietnam coast.
The Arbitration Council
rejected the entire petition against Petrovietnam and forced the
plaintiffs to reimburse the entire arbitration fee which Petrovietnam
had paid in advance.

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