10th Forum for Asian Insolvency Reform kicks off

Since its first meeting in 2001, FAIR has become a venue for international policy makers, justice officials, delegates of the private sectors, pundits and practitioners in bankruptcy to share information, good lessons and experiences in an effort to step up reforms of insolvency laws and regulations in their countries.  

Mr. Nguyen Hoa Binh, Chief Judge of the Supreme People’s Court of Vietnam

That Vietnam hosted 10th FAIR organized in Vietnam has demonstrated its government’s deep concern about insolvency reform. The host country also hopes to learn good lessons and experiences from other nations in the region so as to better conduct its insolvency reform.

The Forum was held after Vietnam had adopted the 2014 Law on Bankruptcy. The law contains various advanced regulations that have been universally recognized. Vietnam is willing to share with other countries these outcomes at the forum.

The Forum, themed “Restoring stability”, demonstrates the important role of insolvency reform in recovering macroeconomic stability.

Speakers from Vietnam are expected to deliver reports on 5 out of the total 9 topics of the Forum. The 10th Forum was attended by more delegates than the previous one.

Senior participants of the Forum.

 “Without appropriate policies to settle enterprise bankruptcy, bad debts will not be resolved, which blocks the flows of capital, leaving negative impacts on the investment environment and slowing down economic growth”.

After the opening session, participants of the Forum discussed 9 small topics. The 10th FAIR will be concluded in 2 days.