An institute named International Business and Legal Advice (IBLA) will be set up to further enhance research on international business law, the Central Vietnam Bar Association announced in Hanoi on February 20.

The institute will help accelerate Vietnam’s bid to join the World Trade Organisation, through research and information dissemination about legal issues relating to international business, according to Pham Quoc Anh, Chairman of the Central Vietnam Bar Association.

The IBLA, including over 30,000 members at grassroots levels, will be mainly active in researching arguments and practices regulating both domestic and international trade activities, and training legal officials.

Under the plan, the establishment will initially start its first two programmes, including provision of training courses on negotiation skills and contract-making amid the global integration context, and hosting a series of international conferences aimed at luring more foreign investment to Vietnam and launching US-based branches for Vietnam’s companies.