Viet Nam has adopted a new legal framework providing for the establishment of a specialized court to adjudicate disputes arising within the country’s planned International Financial Center (IFC). The initiative represents a significant step in strengthening the legal and institutional infrastructure supporting Viet Nam’s ambition to develop a competitive regional financial hub.

The law establishing the specialized court was adopted by the National Assembly on December 11, 2025, during its tenth session and will take effect on January 1, 2026. The legislation sets out the organizational structure, jurisdiction, and operational principles governing the court, which will operate within the system of the People’s Courts.

The specialized court will be located in Ho Chi Minh City and will consist of a first-instance court, an appellate court, and supporting administrative units. It will have jurisdiction over disputes arising from investment, business, and commercial activities conducted within the International Financial Center, including disputes involving domestic and foreign entities participating in financial market operations.

A notable feature of the new legal framework is the expansion of eligibility criteria for judicial appointments. In addition to Vietnamese judges, qualified foreign nationals may be appointed to serve on the specialized court. This provision aims to enhance the court’s capacity to adjudicate complex cross-border commercial disputes and to strengthen investor confidence in the legal environment of the financial center.

Foreign judges must satisfy stringent professional standards. Eligible candidates must have previously served as judges in another jurisdiction or possess recognized professional expertise as lawyers or legal specialists in the fields of investment and commercial law. They must also demonstrate a strong professional reputation, comply with applicable ethical standards, and possess at least ten years of experience in resolving investment or business-related disputes. In addition, foreign judges must be proficient in English and be under seventy-five years of age.

Vietnamese judges appointed to the specialized court are subject to similar requirements. They must have substantial expertise in investment and commercial law and possess no less than ten years of professional experience in adjudication or dispute resolution. English language proficiency is also required in order to facilitate proceedings involving international parties and cross-border legal issues.

Judges of the specialized court will be appointed by the President of Viet Nam upon the recommendation of the Chief Justice of the Supreme People’s Court. Each appointment will be for a term of five years.

The establishment of the specialized court forms part of Viet Nam’s broader strategy to develop an International Financial Center with operations in Ho Chi Minh City and Da Nang. The center is expected to support a wide range of financial activities, including capital market transactions, banking services, asset management, financial technology development, and other related services.

By creating a specialized mechanism for the resolution of complex commercial disputes, the new court is expected to enhance the credibility, efficiency, and transparency of dispute resolution within the financial sector. The initiative is widely viewed as an important institutional measure aimed at strengthening the legal environment for international investment and supporting Viet Nam’s long-term objective of becoming a regional financial center.

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