SINGAPORE AIMS TO BE TOP ARBITRATION CENTRE

BY ZAKARIA ABDUL WAHAB

SINGAPORE, April 2 (Bernama) - Singapore is steadfast in turning the
city-state into one of the leading arbitration centres in Asia and in the world,
the government says.

Law Minister K Shanmugam said the government had been working hard to put in
place the necessary requirements to make Singapore "an arbitration venue of
choice".

"Singapore is a convenient and neutral locale to hold arbitration hearings"
said the minister at the opening ceremony of the inaugural Singapore Corporate
Counsel Association (SCCA) Regional Conference here Thursday.

He said Singapore's judicial philosophy facilitated arbitration in the
city-state, and the judiciary had through case law, made clear that it would
support the arbitral process and would not interfere with it.

In line with the aim, he said parties were free to engage lawyers of any
nationality and use any governing law, and not just Singapore-qualified lawyers
or Singapore law.

Shanmugam said the government had also made it easier for foreign
arbitrators and mediators to do their work here, such as, from last year
allowing them to provide services related to arbitration without having to apply
for a Work Permit or Pass.

He said a colonial era conservation building here had been identified to be
renovated and equipped with state-of-the-art facilities for arbitration by the
middle of this year to house a first-class venue for international hearings.

The minister also said in building up the arbitration sector, the government
was encouraging top arbitral institutions to set up in Singapore, such as the
American Arbitration Association (AAA), the Permanent Court of Arbitration (PCA)
and the International Chamber of Commerce - International Court of Arbitration
(ICC-ICA).

He said the Singapore International Arbitration Centre (SIAC) was also
boosting its reputation as a premier international institution by putting on its
board highly regarded international arbitrators.

Shanmugam said all these measures had significantly improved the quality and
range of arbitration services available in Singapore, and engendered confidence
in the integrity and enforceability of arbitration proceedings and created
flexibility for arbitration parties to hold hearings here.
-- BERNAMA