PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600059

Primary Business Area

Investment Climate

Disclosure Date

Jan 13, 2014

Country

Viet Nam

Region

East Asia and the Pacific

IFC Approval Date

Sep 17, 2013

Status

Completed

Estimated Total Budget

$2,388,168.00
(Project budget includes all project-funded activities)

Last Updated Date

Mar 8, 2022

Project Estimated End Date

Dec 31, 2018

Project Description

As part of the Vietnamese government's effort to mitigate the negative impacts of the global financial crisis, there is a target to improve Vietnam's insolvency framework to help better reallocate resources and improve credit environment. The Supreme People's Court of Vietnam (SPC) has been assigned to lead the review of current insolvency laws and regulations and drafting the revised Bankruptcy Law. In April 2013, IFC and the SPC signed a Memorandum of Understanding to undertake this work. Under this project, IFC will help Vietnam improve its bankruptcy and insolvency legal framework by revising the Bankruptcy Law and its guiding documents, and promote the use of alternative dispute resolution (ADR) in debt resolution and commercial disputes.

Development Results

E&S Risks / Impacts and Mitigation