MECHANISM AND MEASURES TO PREVENT INTERNATIONAL INVESTMENT DISPUTES – INTERNATIONAL EXPERIENCE AND LESSONS FOR VIETNAM

1 TABLE OF CONTENTS LIST OF ABBREVIATIONS Abbreviation Description AAA American Arbitration Association ACIA ASEAN Comprehensive Investment Agreement AF Additional Facility ANDI Algeria's Agence National de Development des Investments APR Arbitration Procedures Rules ASEAN Association of Southeast Asian Nations BIT Bilateral investment treaty BOT Build-Operate-Transfer BT Build-Transfer BTA Bilateral Trade Agreement BTO Build-Transfer-Operate DRCAFTA Dominican Republic Central America Free Trade Agreement ECT Energy Charter Treaty FDI Foreign Direct Investment FI Foreign Investment FTA Free Trade Area GDP Gross Domestic Product ICC International Chamber of Commerce ICDR International Center for Dispute Resolution ICSID International Centre for Settlement of Investment Dispute IIA International investment agreements ISD Investor-State Dispute ISDS Investor-State Dispute Settlement JCAA Japan Commercial Arbitration Association JIC Jordan Investment Commission JICA Japan International Cooperation Agency KOTRA Korea Trade-Investment Promotion Agency MOJ Ministry of Justice MoFA Ministry of Foreign Affairs MPI Ministry of Planning and Investment NAFTA North American Free Trade Agreement NHK-ITEC NHK Integrated Technology Inc ODA Official Development Assistance OECD Organization for Economic Cooperation and Development OFIO Office of the Foreign Investment Ombudsman OIO Office of the Foreign Investment Ombudsman OPIC Overseas Private Investment Corporation PCA Permanent Court of Arbitration PMU Project Management Unit SCC Stockholm Chamber of Commerce TPP Trans-Pacific Strategic Economic Partnership Agreement UCCI Urban-Civil Works Construction Investment Management Authority of Ho Chi Minh city UNCITRAL United Nations Commission on International Trade Law UNCTAD United Nations Conference on Trade and Development US United State USA United States of America USD United States dollar VIAC Vietnam International Arbitration Center VND Vietnam dong VTV Vietnam Television VUS.BTA Vietnam-United State Bilateral Trade Agreement WIPO World Intellectual Property Organization LIST OF FIGURES SUMMARY OF THESIS RESEARCH RESULTS In the trend of international integration, up to now, Vietnam has signed nearly 70 investment treaties Most bilateral investment treaties stipulate issues related to the settlement of Investor-State dispute (ISD) Most investment treaty regulates that ISDs can be settled according to the procedures of the International Centre for Settlement of Investment Disputes (ICSID), under the ICSID Additional Facility or any other arbitration organization However, the ISD settlement at arbitration is not only costly, but these arising ISDs will reduce the confidence of foreign investors in Vietnam's investment environment Therefore, the purpose of the thesis is providing measures to prevent possible ISDs After the research process, the thesis should give the following results: Firstly, give the concept of "Investor-State dispute" Secondly, on the basis of studying the status of ISD settlement in some countries, synthesizing mechanisms and preventive measures of ISD in those countries Thirdly, assess the current status of legal provisions on investment dispute settlement between foreign investors and the Vietnamese Government Fourthly, analyze some cases between foreign investors and the Vietnamese government, thereby drawing lessons for Vietnam in the prevention and settlement of ISD Fifthly, propose measures to prevent disputes between foreign investors and the Vietnamese government INTRODUCTION Rationale of the study The implementation of opening policy, attraction of foreign investment (FI) in Vietnam makes economic relationship in general and foreign investment relationship in particular in Vietnam become more and more diversified and complicated In that context, it is difficult to avoid investment disputes The disputes can be a foreign investor-domestic investor dispute or a foreign investor to foreign investor dispute or foreign investor- Vietnamese Government dispute In recent years, foreign investor-Vietnamese Government disputes in investment activities are increasing Practice of international investment dispute settlement shows that arbitration is a dispute settlement method that investor and State usually take precedence to choose; and practice also shows that Vietnam has not had experience in the dispute settlement at arbitration yet Unfruitful dispute settlement will harm Vietnam’s attraction for foreign investment and reduce Vietnam’s completion in drawing foreign investment Therefore, besides good settlement of international investment dispute, it is important to prevent international investment disputes It is the reason the author selects the theme: “Mechanism and measures to prevent international investment disputes – International experience and lessons for Vietnam” as my graduation thesis Research situation 2.1 Situation of research topics oversea In overseas, there have been many studies mentioning the theoretical issues about ISD and ISD resolution Some projects can be listed as follows: - Dr David A Gantz: “Settling international investment disputes through arbitration” (2004) – The aim of this study is to take stock of and to analyse the Investor-State Arbitration under ICSID, the ICSID Additional Facility and the UNCTAD Arbitral Rules - Research "Investor-State Dispute Settlement Public Consultation: 16 th May – 23rd July 2012" (2012) which gathers reports of experts at the 16th round table of the Organization for Economic Cooperation and Development (OECD) - Research "Investor - State Dispute Settlement and Impact on Investment Rulemaking" (2008) study of the United Nations Conference on Trade and Development (UNCTAD) The aim of this study is to take stock of and to analyse the major developments in the interpretation of procedural and substantive international investment agreement (IIA) provisions as contained in bilateral investment treaties and economic integration agreements with investment provisions It addresses the implications of those developments for countries, emphasizing the particular needs of developing countries It presents some conclusions and reflections on possible next steps that countries could take to implement the lessons learned from the investor-State dispute settlement experience - Research “Dispute settlement provisions in international investment agreements: A large sample survey” by Joachim Pohl, Kekeletso Mashigo and Alexis Nohen (2012) This document surveys Investor-State Dispute Settlement (ISDS) provisions in a sample of 1,660 bilateral investment treaties (BITs) and other bilateral agreements with investment chapters (mainly Free Trade Agreements, FTAs) The treaties in the sample were concluded by the 54 countries that participate in the “Freedom of Investment” (FOI) Roundtables with any other country The survey presents a statistical portrait of ISDS provisions of this treaty sample that is both comprehensive and detailed The intention is to provide a factual and statistical catalogue of treaty content and not to in any way engage the OECD or countries participating in the FOI process regarding interpretation of treaty language in an arbitral setting, regardless of whether these treaties are in force or not In some cases, the bilateral treaties are also compared with selected multilateral agreements with investment chapters (e.g NAFTA, Energy Charter Treaty) - Research “Reform of Investor-State Dispute Settlement: In search of a roadmap” (2013) This note outlines five main reform paths: Promoting alternative dispute resolution; Tailoring the existing system through individual IIAs; Limiting investor access to ISDS; Introducing an appeals facility; Creating a standing international investment court And “Global Value Chains: Investment and Trade for Development” by UNCTAD – The world investment report by UNCTAD In general, these works investigate theoretical and practical issues of ISD resolution based on international investment agreements (IIA), bilateral investment agreements (BIT) and on the basis of ISD solving experience But each study only touches on certain issues, but there is no comprehensive study on preventing ISD These studies study the resolution of ISD by developed and developing countries, but there is no separate study for Vietnam Regarding ISD mechanisms and precautions, there are a number of studies abroad mentioned, such as : - Research “Investor-State Disputes: Prevention and Alternatives to Arbitration I” by UNCTAD (2010) This is reports summarizing the opinions of experts in this field around the world from both direct and online The arbitration experts of the Center for Effective Dispute Resolution (CEDR) are active and offer many analysis and recommendations to promote the use of alternative methods in international investment disputes - Publications “Stocktaking of Investment Dispute Management and Prevention in the Southern Mediterranean Region” by OECD (2018) It provides an overview of the region's recent ISDS trends, an analysis of each country’s regulations and international agreements, as well as the current mechanisms set up for the management of investment disputes It also presents selected case studies and good practices in investor-State dispute prevention These studies focus on analyzing the practice of dispute resolution of some countries, from which draw lessons, synthesize mechanisms and preventive measures in those countries, but there is no content which is related to Vietnam 10 2.2 Situation of research topics in Vietnam In Vietnam, there have been a number of studies on ISD settlement but few and only focus on theoretical and practical issues to resolve disputes between foreign investors and the Vietnamese government, including: - Assoc Prof Dr Hoang Phuoc Hiep "Theory and practice on the position, role and participation of government agencies in handling government-related international trade and investment disputes", research works (2012) It provides an overview of the role of government agencies in solving investment disputes base on theory and practice in Vietnam Thereby it makes suggestions to improve the legal regulations on the role and operation of state agencies in settling investment disputes - Phan Hong Nguyen "Law on settlement of disputes in the field of foreign direct investment by arbitration in Vietnam" master thesis – Hanoi Law University (2012) The dissertation provides an overview of the legal provisions on settlement of investment disputes in the field of direct investment from abroad into Vietnam; the current situation of application and to finalize the relevant legal system to ensure the quick and convenient settlement of investment disputes - Tran Phuong Thao "Settling investment disputes between the Government of Vietnam and foreign investors", Master thesis – Diplomatic Academy of Vietnam (2015) The thesis provides an overview of the Law and the actual status of investment disputes between foreign investors and the Vietnamese government; propose to improve the legal regulations on resolving disputes between foreign investors and the Vietnamese government An overview of the research works on theoretical and practical issues of investment dispute resolution between foreign investors and the Government of Vietnam, found that in the country there has been research on this issue, although, the number of research works is still limited Although there has not been any study to introduce the concept of "investment disputes between foreign investors and the Government of investment host- countries", there have been studies to introduce the 10 82 b) Detect and early handle disagreements between state management agencies and foreign investors before these disagreements can become international investment disputes, which must be resolved at the judicial authorities in international or international arbitration This finding helps competent State agencies to arrange, negotiate and agree with foreign investors to handle in a reasonable and lawful manner, to resolve differences and avoid these differences developing into a dispute The initial disagreements and contradictions expressed outside are the fact that foreign investors directly meet or send complaints and reflect on questions related to their investment to competent State agencies Therefore, state agencies directly deal with investment-related affairs of foreign investors, both at the central and local levels, should comply with the provisions of Article and Article 10 of the Prime Minister's Decision No 04/2014 / QD-TTg of January 14, 2014, promulgating the Regulation on coordination in the settlement of international investment disputes as well as relevant law provisions In addition, through activities of monitoring and inspecting the implementation of investment law, foreign investment projects, settling complaints of foreign investors, State agencies promptly discover, inform and report to State agencies early in charge of state management of investment in the possibility of generating investment disputes from specific cases that they know to help these agencies take action for eliminating disputes which may arise from these disagreements The management board of industrial parks, export processing zones and economic zones is an agency which is capable to early detect in their functions and tasks and can deal with disagreements and conflicts early Therefore, in their work, industrial park, export processing zone and economic zone management boards need to pay attention to the implementation of this task c) Definitely resolve disagreements in accordance with administrative complaints or consultation, negotiation and judicial procedures in the country to 82 83 prevent disputes In order to prevent international investment disputes, when there are disagreements and conflicts related to the implementation and implementation of investment projects of foreign investors, the State agencies should make efforts to resolve the case in the procedure of administrative complaints or consultations and negotiations In cases, these procedures still fail to resolve the case, it is necessary to try to persuade the foreign investor to agree to bring the case to the Vietnamese judicial authorities This will prevent the claimants from participating in complicated, expensive procedures at international arbitration In order to encourage foreign investors to bring conflict and disagreement to the above-mentioned procedures, Vietnamese State agencies are responsible for handling this type of case, this needs to be objective, impartial and absolutely compliant with the law in resolving conflicts, disputes between State agencies and foreign investors d) Make priority for reconciliation measures in resolving disputes with foreign investors On the basis of assessing the details and specific contents of the dispute if reconciliation really benefits the Government and Vietnamese State agencies, reconciliation must always be considered a priority measure in the process of settling international investment disputes because successful reconciliation will ensure that the two parties will suffer the least in terms of time and finance; even business opportunities for investors and prestige and confidence in Vietnam's investment environment Therefore, for the above cases, the State agencies participating in the dispute resolution, especially the chairman Agency on this matter, shall not be determined under the "all cost" lawsuit that reconciliation must always taken into account as a priority measure during the resolution process, including before, during the time the case is brought to international arbitration State agencies assigned to participate in resolving disputes between the Government and foreign investors should always try to take 83 84 advantage of the opportunity to reconcile and be sufficiently given the opportunity to reconcile when the agency The judge made the final decision on the dispute e) Assess the claim: making all relevant documents available to the lead agency at short notice It is essential for the lead agency or the commission in charge of receiving all the documentary evidence of facts and legal documents soonest in order to get a clear picture of the problem at hand, to assess the risk of escalation, to monitor the available time frame and to undertake the steps and procedures set forth by the investment treaty or the contract Information pertaining to the potential magnitude of the case, to the risk involved, and to possible implications of an early settlement is not only based on the legal issues where advice can be given by outside counsel but also on a more political assessment related to making the right decision at the right time Inter-institutional arrangements made by law or established as a system inside the host government, are meant to facilitate early settlement decisions based on early and complete information, appropriate power and budgetary authority They will also make it easier for an aggrieved investor to identify early on the proper procedure to start an amicable discussion in view of a settlement The investor can so before the parties have started investing important amounts in preparing their defense, thereby avoiding loss of time and the conflict to escalate Establishing such a system by law will also enhance the transparency and accountability on the part of the government actors 3.2.2.5 Ensure authority to negotiate and settle - budgetary authority Domestic regulations relating to the responsibilities of state officials may be given when exercising their responsibilities including personal responsibility and financial responsibility Government officials assigned to implement commitments in investment agreements or dispute prevention programs should be handed not only the necessary authorities but also the reinsurance of the costs that may arise This constitutes an integral part of the dispute prevention program and requires 84 85 close guidance and funding regulations to be used by state officials when negotiating or participating in mediation Complaints from investment agreements are still a new event in most countries Governments may be uncertain about that which agency is responsible for violating the agreement or contract, which agency is responsible for negotiating IIA, which agency is responsible for protecting the state, or any other agency is responsible for payment This question is not unimportant, because payment may require an agency to cut their other costs, which are usually within the annual budget Uncertainty about who bears this financial burden will increase the challenge faced by government officials when the government officials are responsible for handling ISD Therefore, there should be specific regulations on the use of the state budget to pay the costs incurred in ISDS such as which agencies are paid, what types of expenses are paid Article 24 Decision No 04/2014 / QD-TTg dated January 14, 2014 of the Prime Minister promulgating the Regulation on coordination in the settlement of international investment disputes stipulating the responsibilities of agencies, organizations and individuals have issued and applied illegal measures, contrary to Vietnam's international commitments or signed contracts and agreements with illegal foreign investors in Vietnam, resulting in international investment disputes being dealt with according to Vietnamese law Thus, this responsibility includes administrative, civil and criminal responsibilities depending on the extent of the violation The binding of such legal responsibilities will ensure that individuals and competent state agencies practicing policies and law enforcement on foreign investment will be more cautious in performing their duties and tasks For violating individuals, they shall be handled according to law provisions on discipline of officials and public employees, material liability according to the provisions of civil law, and may even be subject to criminal liability if there are enough signals of crime For state agencies, they must also take material responsibility to compensate for a part of the financial losses from the lawsuit 85 86 3.2.2.6 Institutional response: ombuds and mediation services For investors, an ombuds office provides an institutional interlocutor to turn to, an official channel to address issues and problems at an early stage It can remain on the informal level but can also constitute a formal approach to the host government and a request to resolve the issue It can constitute a mandatory channel or be available to the investor as an additional choice It may operate according to strict procedures or be available in a more flexible manner In any event, the ombuds office can constitute a way for the investor to attempt a prompt, early, potentially cheap and amicable resolution of a problem relating to its investment For host States, an ombudsman or ombuds office constitutes the first contact point or gateway to deal with a problem encountered by a foreign investor The ombuds office can provide early information to the authorities and enable them to assess the problem It may also facilitate early action, if required, allowing the authorities to correct the problem before it worsens The ability of the ombudsman or ombuds office to take corrective action or to request that corrective action be taken by another agency or sub-national authority of the government will depend on its institutional location inside the government In practice, the ombuds office can belong to investment promotion agencies, at the central or regional level, within a Ministry or as a separate entity directly under the Prime Minister or the President It can take the form of a single authority or of a commission comprising various agencies It can also be set up under a treaty in the form of a joint commission comprising representatives of the States members of the treaty For instance, the Commission for Environmental Cooperation helps prevent potential trade and environmental conflicts related to NAFTA and may be adapted to potential investment disputes A similar approach as above can be found in the setting up of an investment mediation service This approach can be taken by the host government by instituting a mediation service available for foreign investors or designating a mediator whose function will be to hear the complaints, bring the parties together, facilitate the 86 87 dialogue and possibly resolve the problem before it turns into a dispute that can only be settled by courts or international arbitration The idea is similar to that of an ombudsman An investment mediator would be “above” the dispute (or potential dispute) The functions of a mediation service would be those of a communicator, adviser, facilitator – not those of an administrator or judge – and it can, in theory, respond to requests from the government as well as investors 3.2.2.7 State-State cooperation in dispute prevention Another way of preventing disputes from emerging and reaching the international arbitration phase is by enhancing State–State cooperation on relevant matters To a certain extent, communication and interaction among States on issues related to investment agreements and Investor–State disputes have constituted common practice in the past, offering important lessons when considering approaches to making such practice more formal At the same time, new previously non-existent channels of State–State cooperation can be thought of, in order to avoid the perception of going back to diplomatic protection of earlier days It is important to note that not only predominantly capital-importing countries have been found to show interest in finding ways of preventing disputes from escalating into international arbitration Equally, capital-exporting countries at times also engage in activities on behalf of their investors to prevent disputes from escalating Generally, the interest of the investor in having its complaint addressed and grievance removed in a quick and uncomplicated matter is likely to be large, and preferable to costly and time-consuming ISDS procedures The current construct of international arbitration to settle Investor–State disputes under the ICSID Convention has been set up in order to remove Investor– State disputes from political pressure and to settle these cases in a legal framework However, as mentioned before, common practice among States has been the issuance of complaints by diplomats of the home country towards the government of the host country on behalf of an aggrieved investor - the “ambassador knocking on the door of the host country government ministry” Article 27 of the ICSID 87 88 Convention (ICSID, 2006a) explicitly allows such involvement by diplomats to take place, but defines clear limitations: “(1) No Contracting State shall give diplomatic protection, or bring an international claim, in respect of a dispute which one of its nationals and another Contracting State shall have consented to submit or shall have submitted to arbitration under this Convention […] “(2 Diplomatic protect for the purposes of paragraph (1), shall not include informal diplomatic exchanges for the sole purpose of facilitating the settlement of a dispute.” Nevertheless, diplomatic exchanges on investment disputes by and large resemble ad-hoc processes without any basis in existing law or international agreements While diplomatic contacts and an engagement by prominent diplomats on behalf of an investor offering “good offices” may have some impact on the host government, this approach is likely to face limitations as it creates a sense of diplomatic pressure exerted on the host country government akin to the politicization and “gunboat” diplomacy described earlier Moreover, such diplomatic efforts lack the nature of a more formal institutional process between States where defined channels of action in response to a complaint are specified Hence, if diplomatic channels are used to address potential disputes between investors and the host State, attention should be paid that this happens through previously agreed-upon procedures that establish a mentality of cooperation rather than confrontation 88 89 CONCLUSION In the trend of globalization, foreign investment plays an increasingly important role for economies of nations, especially for developing countries, including Vietnam The benefits gained from this activity are very high, but the challenges posed are no less, especially the challenge from resolving ISDs A comprehensive study of this issue helps us to better understand the theory and practice of ISD settlement The theory of ISD settlement in our country still has many issues that need to be improved There are many ways to deal with ISD, which are stipulated in national laws and IIAs such as negotiation, mediation, Vietnamese courts, Vietnamese arbitration, foreign arbitration, ICSID mechanism, sub-mechanism support of ICSID, arbitration under UNCITRAL rules Specifically, using which method is selected by foreign investors, but in practice, foreign arbitration is the main method that foreign investors choose in settling investment disputes with the Government of Vietnam Settlement of Investor - Vietnamese State disputes by arbitration is under the influence of at least two legal systems: the legal system of the host country and the International treaties, international practices, foreign case law The trend of international integration requires Vietnam to complete its domestic legal system related to ISD settlement, specific Investment Law, Commercial Arbitration Law, Civil Procedure Code etc and related documents in order to meet the suitable with the direction in accordance with the participation of the IIAs, to make the ISD resolution methods flexible, fast and economical, while ensuring effective and effective Vietnam accepts the method of settling investment disputes between foreign investors and the Government of Vietnam to both attract foreign investment and enhance Vietnam's position and reputation in the international arena In a developing country like Vietnam, the legal system and policies are not yet completed, the officials in the state agencies are not professional, not yet knowledgeable about international law etc so easy give rise to investment disputes between foreign investors and the Vietnamese Government In addition, the lack of experience and understanding of ISD settlement of state agencies it makes to 89 90 confusion, lack of initiative in responding to ISDs, sometimes not resolving ISDs so the investor sues at international arbitration Therefore, the first requirement for improving professional capacity and awareness of state officials in the prevention and resolution of ISD is necessary The settlement of ISD at arbitration will result in huge costs for the developing countries like Vietnam, while also reducing the attractiveness of the investment environment Therefore, it is better to limit and prevent ISDs from arising by measures such as completing the regulations on investment in the direction of simplifying investment procedures; develop a system of ISD warning, prevention and prevention mechanisms according to the experience of countries around the world, countries that have achieved certain effects in preventing ISD from these mechanisms; focus on using negotiation and mediation methods when disputes arise, minimizing the need to resolve ISD at arbitration The introduction of ISD precautions is one of the important requirements of the international integration process This is an objective indispensable requirement to meet the practical needs in order to resolve the ISDs that have been and will be arising, to ease the tensions between foreign investors and the Government of Vietnam The Vietnamese government expressed goodwill of good relations with foreign investors, thereby contributing to attracting more and more investment capital into Vietnam 90 91 LIST OF REFERENCES A In Vietnamese I Legal documents Công ước Washington năm 1965 giải tranh chấp đầu tư nhà nước công dân nước khác (ICSID) (Washington Convention in 1965 on resolving investment disputes between the state and other nationals (ICSID).) Luật mẫu Trọng tài thương mại quốc tế Ủy ban Liên hiệp quốc Luật thương mại quốc tế (UNCITRAL) năm 1985 (Model Law on International Commercial Arbitration of the United Nations Commission on International Trade Law (UNCITRAL) in 1985.) Qui tắc trọng tài Trung tâm giải tranh chấp đầu tư quốc tế (ICSID) năm 1965 (Arbitration rules of the International Investment Dispute Resolution Center (ICSID) in 1965.) Cơ chế phụ trợ Trung tâm giải tranh chấp đầu tư quốc tế (ICSID) năm 1978 (Additional Facility of the International Centre for Settlement of Investment Disputes (ICSID) in 1978.) Quy tắc tố tụng trọng tài Ủy ban Liên hiệp quốc Luật thương mại quốc tế (UNCITRAL) năm 1976 (Rules of arbitration proceedings United Nations Commission on International Trade Law (UNCITRAL) in 1976.) Hiệp định Đối tác Thương mại Xuyên Thái Bình Dương (Trans-Pacific Partnership Agreement (TPP)) Hiệp định khuyến khích bảo hộ đầu tư Chính phủ CHXHCN Việt Nam với Chính phủ Hàn Quốc, ngày 05/6/2004 (Agreement on investment encouragement and protection between the Government of the Socialist Republic of Vietnam and the Korean Government, June 5, 2004.) 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A Preliminary Sketch Larousse, 1999, Le petit Larousse illustré - Edition 1999, Larousse bublishing 34 OECD (2018), Stocktaking of Investment Dispute Management and Prevention in the Southern Mediterranean Region 35 OECD Working Papers on International, 2012/3 OECD Publishing 36 OECD (2012), Investor-State Dispute Settlement, Summary reports by experts at 16th Freedom of Information Roundtable, 20/3/2012 37 OECD (2012), Investor-State Dispute Settlement, Public Consultation: 16 May - 23 July 2012 95 96 38 Stevens, Margrete and Ben Observations on the Love, 2010, "Investor-State Mediation: role of Institutions" Contemporary Issues in International Arbitration and Mediation: The Fordham Papers 2009, Martinus 39 Nijhoff Publishers UNCITRAL Arbitration Award, Walter Bau v Thailand dated July 1st, 2009 40 UNCTAD (2011), Best practices in Investment for development - Case studies in FDI, How to Prevent and Manage Investor-State Disputes: Lesssons from Peru, United Nations Publication 41 UNCTAD (2011) Series on International Investment Agreement II United Nations Publication 42 UNCTAD (2011), Lastest developments in investor-state dispute settlement, IIA issues note, United Nation Publication 43 UNCTAD (2011), Investor-State Disputes: Prevention and Alternatives to Arbitration II, UNCTAD Series on International Investment Policies for Development United Nations Publication 44 UNCTAD (2010), Investor-State Disputes: Prevention and Alternatives to Arbitration I, UNCTAD Series on International Investment Policies for Development, United Nations Publication 45 96 West Pub Co (1999), Black’s Law Dictionary ... important to prevent international investment disputes It is the reason the author selects the theme: Mechanism and measures to prevent international investment disputes – International experience and. .. experience in ISDS of Vietnam to draw up mechanisms and measures to prevent investment disputes between foreign investors and the Government of Vietnam Objectives of the study International investment. .. Measures to prevent international investment disputes are ways to implement actions to prevent international investment disputes Preventive measures are implemented according to mechanisms and policies