The Commercial Law should be revised in line with the current legal system and market, said Nguyen Sinh Nhat Tan, Director of the Department of Legal Affairs under the Ministry of Trade and Industry, at a workshop on October 20 in Ho Chi Minh City.
Since 2008, the People’s Courts at all levels have handled more than 81,000 trade-related cases with nearly 65,000 of them settled, according to the Supreme People’s Court.
The figure is expected to increase in the coming time, when Vietnam enters free trade agreements, Tan said, adding that the revised law should create a full legal corridor for handling trade disputes.
Meanwhile, Prof. Do Van Dai, head of the Civil Law Faculty of the Ho Chi Minh City Law University, expressed concerns about overlapping and conflicts in the application of the Commercial Law and the Civil Law in trade-related cases.
Tran Do Quyen, Deputy Director of the ministry’s Department of Legal Affairs, said the draft revised Commercial Law was expected to be submitted to the Government in 2017 for approval in 2018.
The draft Law on Foreign Trade Management is scheduled to be submitted to the Government in May 2016, she said.-VNA
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