Laos receives assistance on dispute resolution
Laos receives assistance on dispute resolution
Lao officials, in cooperation with Singapore, have organised a workshop on economic dispute resolution to ensure that economic disputes are resolved peacefully, fairly and promptly in Laos.
Having amicable dispute resolution procedures is expected to promote production, business growth and international integration by creating a favourable environment for both domestic and foreign investors to contribute to national socio-economic development.
The two day workshop from November 16-17 will increase experience and knowledge on economic dispute resolution for arbitrators, mediators and representatives from the government and the private sector in Laos by exchanging and sharing experience with the Singaporean experts.
The workshop was chaired by Deputy Minister of Justice, Mr Bounsavad Boupha and Singaporean Ambassador to Laos, Mr Dominic Goh, and attended by representatives from the United Nations Development Programme (UNDP) and the Asia Foundation.
Through the workshop, the participants will gain a deeper understanding about international trading and investment disputes by mediation and arbitration via the Party committee in order to increase fairness in dispute resolution and bring Lao regulations in the field in line with regional and international standards.
The participants also increased their understanding and knowledge on the role, techniques and skill of the mediation process and arbitration by the Party committee outside of the People's Court.
An economic dispute is a conflict of interest between legal entities, or between a legal entity and an individual, or between individuals whether domestic or foreign that may arise from the breach of a contract or from a dispute related to production or business operations .
Economic dispute resolution is the resolution of a dispute related to interests by mediation or arbitration that is conducted outside the People's Court.
According to society's requirements, Laos should improve any issues in economic dispute resolution in order to create confidence for foreign investors, said Mr Bounsavad.
Laos also needs to improve the Law on the Resolution of Economic Disputes relating to socio-economic development conditions as well as update knowledge and ethnics for mediating Party committee members and arbitrators, he said.
The activity aims to improve the knowledge of employers and the arbitration Party committee to help Laos integrate with the Asean Economic Community by the end of this year, Mr Bounsavad said.
