The Association was officially launched at a ceremony in the city on January 6th.

That is the country’s first commercial arbitration association, lawyer Nguyen Van Hau has been elected chairman.

Stating at the ceremony, deputy director of the city Justice Department Phan Thi Binh Thuan said that commercial arbitration is one of judicial support sectors calling for social participation sooner than others such as notarization, assessment and bailiff.

The latest data show that HCMC has 13 arbitration centers and two center branches with 438 arbitrators. The number of disputes solved by arbitration method in the hub is larger than other localities.

However, arbitration activities still have certain difficulties. For instance, the society’s awareness of the field has been limited so the number of cases solved through arbitration method has been humble compared to actual demand.

Ms. Thuan noted the need of coordination among HCCAA and relevant agencies such as the Justice Department, the court, civil enforcement agency and HCMC Bar Association to improve operation efficiency of commercial arbitration.

Aside from that, propaganda should be stepped up to popularize the role and position of commercial arbitration and change the habit of solving disputes from the court into commercial arbitration organizations.

Relevant sides should develop a staff of arbitrators with good and professional practice ethics, skills and qualification./.

CPV/SGGP