E-briefing: Singapore- Asia’s leading international dispute resolution hub and 3rd most preferred seat of arbitration in the world

E-briefing: Singapore- Asia’s leading international dispute resolution hub and 3rd most preferred seat of arbitration in the world
25 Jun 2018

Singapore- Asia’s leading international dispute resolution hub and 3rd most preferred seat of arbitration in the world

The demand for international dispute resolution in Singapore is expected to increase in tandem with Asia’s anticipated GDP growth of 6% in 2018 and 5.9% in 2019[1], and China’s One-Belt, One-Road project. As a global hub in the heart of Asia, Singapore is well positioned to meet the rising need for international dispute resolution services.

Singapore provides a comprehensive range of dispute resolution mechanisms to all parties, notably international arbitration at the Singapore International Arbitration Centre (SIAC), international litigation at the Singapore International Commercial Court (SICC) and international mediation at the Singapore International Mediation Centre (SIMC).

In the 2018 International Arbitration Survey by Queen Mary University of London and White & Case, Singapore was ranked the 3rd most preferred seat of arbitration globally, and the Singapore International Arbitration Centre is now the 3rd most preferred arbitral institution in the world.

There are several factors in favour of Singapore as a leading arbitral seat including but not limited to continual forward-thinking updates in the well-established arbitration legislation, an eminent impartial, independent and trusted judiciary, the SIAC as a well-regarded provider of world-class arbitration services, trained and experienced arbitration practitioners and arbitrators, which all together create a conducive environment for international arbitration in Singapore to thrive.

We therefore expect international arbitration will continue to be the prevailing mode of international dispute resolution in Singapore, Asia and beyond.

 

Author:

Philip Fong

Managing Partner, Eversheds Harry Elias LLP

[1] Asia Development Bank – Asia’s Growth Outlook for 2018

For more information, please contact our Business Development Manager, Ricky Soetikno at rickysoetikno@eversheds-harryelias.com

 

Contact: 

Philip Fong

MANAGING PARTNER
Head, Litigation and Dispute Management
Head, Fraud and Financial Crime
T: 
+65 6361 9819
F: 
+65 6438 0550
E: 
PhilipFong@eversheds-harryelias.com

S Suressh

Partner
Litigation and Dispute Management
Head, Aviation and Shipping
T: 
+65 6361 9365
F: 
+65 6438 1568
E: 
Suressh@eversheds-harryelias.com