This was shared by Nguyen Tien Quang, Director of VCCI Central Vietnam – Central Highlands, at the forum titled “Legal Risk Management and the Prevention and Resolution of Disputes in Investment and Business Activities in the Digital Era in Da Nang City”, held on the morning of April 17. The event was co-organized by VCCI Central Vietnam – Central Highlands, the Vietnam International Arbitration Centre (VIAC), and VCCI Intellectual Property Company Limited (VCCI-IP), aiming to support Da Nang in building a transparent, efficient investment environment aligned with international standards, with the goal of becoming a regional financial center.

The forum “Legal Risk Management and the Prevention and Resolution of Disputes in Investment and Business Activities in the Digital Era in Da Nang City” was held on the morning of April 17

According to Mr. Quang, as Vietnam’s economy enters a new development phase requiring rapid and sustainable growth, digital transformation is no longer a trend but an inevitable driver of development. For Da Nang—an economic, innovation, and logistics hub of the Central Vietnam – Central Highlands region—building a transparent, secure, stable, and risk-controlled investment and business environment is a prerequisite for enhancing competitiveness and attracting high-quality investment flows.

However, he also pointed out that businesses are facing new challenges amid the strong digitalization of investment, production, and business activities. These include legal risks in contract formation and execution, commercial disputes, conflicts of interest in investment, as well as emerging issues in the digital environment such as data, information security, intellectual property, and cross-border transactions.

“In practice, the cost of a dispute is always significantly higher than the cost of early prevention. Therefore, legal risk management capacity is becoming a core competency for businesses in the digital era,” he emphasized.

Based on PCI data published by VCCI, although Da Nang is considered a highly competitive locality in terms of business environment, certain limitations remain in legal institutions and support mechanisms for minimizing and resolving commercial and investment disputes, with indicators still below the national median. Specifically, the percentage of businesses expressing confidence in legal protection for copyright or contract enforcement stands at 86%, lower than the national median of 91%.

Nguyen Tien Quang, Director of VCCI Central Vietnam – Central Highlands, highlighted legal risks in contract execution, commercial disputes, and investment-related conflicts affecting the business community

In addition, the proportion of businesses agreeing that provincial courts handle economic cases promptly is 83% compared to the national median of 88%; the rate of timely enforcement of court judgments is 82% versus 88%; and legal support agencies assisting businesses in litigation stands at 83% versus 89%. Notably, ease of access to legal advisory services is rated at 73% compared to 80%, while the predictability of legal changes is 34% versus 39% nationwide.

“With its role as a national organization representing the business community in the region, VCCI Central Vietnam – Central Highlands is committed to accompanying authorities, enterprises, and both domestic and international organizations in improving the business environment, enhancing governance capacity, and protecting the legitimate rights and interests of businesses and investors. Therefore, identifying solutions to minimize disputes, improve policy predictability, enhance law enforcement quality, and strengthen business confidence in the investment environment is an urgent task,” Mr. Quang added.

Through the forum, VCCI Central Vietnam – Central Highlands expects to identify early key legal risks and bottlenecks that may lead to disputes in investment and business activities, especially in the context of digital transformation. At the same time, it aims to propose effective prevention and dispute resolution mechanisms, including promoting the role of commercial arbitration, mediation, and online dispute resolution methods.

Ultimately, the goal is to establish close coordination among state management agencies, business support organizations, legal institutions, and the business community, thereby contributing to the development of a modern, transparent, and investor-friendly business environment in Da Nang. VCCI will continue to accompany the city, the business community, and domestic and international organizations in improving the investment climate, contributing to the realization of Da Nang’s ambition to become a key growth driver of the region and the country.