Nguyen Danh Cong – Partner
Truong Nguyen Thien Long – Associate
Nguyen Quang Thai – Junior Associate
On 17 August 2026, the Government issued Decree No. 323/2026/ND-CP detailing a number of articles of, and measures for the implementation of, Resolution No. 20/2026/QH16 on the coordination mechanism and specific policies for enhancing the effectiveness of the prevention and resolution of international investment disputes (“Decree 323”).
Decree 323 establishes a detailed legal framework for the receipt and handling of matters carrying a risk of escalating into international investment disputes, and sets out the responsibilities of State authorities in dispute prevention, inter-agency coordination and dispute resolution. The key points for foreign investors are summarized below.
1. Enhanced responsibilities of investment registration authorities in dispute prevention
Article 4 of Decree 323 sets out a number of responsibilities of the investment registration authority in the course of receiving and appraising applications for, and granting, Investment Registration Certificates, with a view to identifying and mitigating legal risks that may give rise to disputes during project implementation. Accordingly:
- The investment registration authority is responsible for guiding foreign investors and providing them with information on market access conditions, business investment conditions and other relevant legal requirements;
- Investment procedures must be handled in accordance with the correct competence, order and procedures prescribed by law, and the related dossiers and documents must be archived in full as required; and
- The competent authorities must review, monitor and supervise project implementation in order to promptly identify and address difficulties, obstacles or factors carrying a latent risk of giving rise to disputes.
These provisions reflect a broader trend of strengthening the role of State management agencies in dispute prevention from the preparation and implementation stages of an investment project.
2. Mechanism for receiving and handling investor submissions through the National Investment Portal
Article 6 of Decree 323 provides for a mechanism for receiving and handling feedback and petitions from foreign investors through the National Investment Portal, of which the following points should be noted:
- Investors may submit feedback, petitions or complaints in accordance with law through the National Investment Portal. The authority administering the Portal is responsible for receiving, classifying and handling such submissions, or forwarding them to the competent authority for resolution as prescribed;
- Where a matter falls outside its competence, the Portal administrator must, within 05 working days, forward the file to the competent authority and notify the Ministry of Justice and the relevant local authority for coordinated monitoring;
- Within 30 working days from receipt of the file, the competent authority must coordinate in handling the matter and update the outcome or the status of resolution on the Portal. For matters not yet conclusively resolved, updates must be made periodically or whenever there are new developments; and
- Where there are insufficient grounds for resolution, or where the matter shows signs of giving rise to an international investment dispute, the competent authority may request the Ministry of Justice to conduct a dispute risk assessment. Where the matter exceeds its competence, or simultaneously shows signs of a breach of legal regulations or of an international investment treaty together with a risk of an international investment dispute, the handling authority must report to the Prime Minister in accordance with the prescribed order.
The introduction of an online intake and tracking mechanism is expected to enhance transparency in the handling of investors’ petitions and feedback. It should be noted, however, that Article 6.1 of Decree 323 expressly provides that the receipt of information through the National Investment Portal does not replace the statutory order and procedures for resolving complaints. Accordingly, a submission made through the Portal does not of itself create or preserve procedural rights, limitation periods for complaints, or conditions precedent to the commencement of proceedings under international investment treaties.
3. Time limits for handling international investment dispute matters
Article 8 of Decree 323 establishes the process applicable where a foreign investor submits a written notice of intent to bring a claim, or a notice of arbitration, in connection with an international investment dispute.
Under this provision, the relevant State authorities must carry out the prescribed steps within specific time limits, including the receipt of information, risk assessment, the organization of inter-agency coordination, and the proposal of an appropriate course of action.
Mandatory time limits of this kind may contribute to:
- Greater transparency and predictability in the handling of a matter;
- Enhanced coordination and accountability among State management agencies; and
- A basis for considering consultation, dialogue or conciliation measures at the pre-proceedings stage where appropriate.
4. Key considerations for foreign investors
In light of the mechanisms established under Decree 323, foreign investors may wish to consider the following:
- Ensuring that investment dossiers are complete, accurate and consistent from the project preparation stage, and retaining in full all related documents, correspondence and administrative decisions throughout project implementation;
- Where difficulties, obstacles or complaints arise in connection with their investment activities, considering the parallel use of the available intake channels, including the National Investment Portal and the corresponding sector-specific administrative or complaint procedures; and
- For matters that may engage an international investment treaty or carry a risk of an international investment dispute, preparing complete files, evidence and supporting documentation to serve the assessment, exchange or consultation process with the competent authorities.
Decree 323 marks a notable step forward in Vietnam’s legal framework on the prevention and resolution of international investment disputes. By establishing an inter-agency coordination mechanism, time-bound handling procedures and a centralized information intake channel, Decree 323 is expected to improve State management of investment dispute risks while enhancing the transparency and predictability of the investment environment for foreign investors.
