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Belt and Road Insights - November 2016

Monday, 15th November 2016

"...Dispute resolution on the Belt and Road – an opportunity for Hong Kong

Hong Kong is well-poised to be a key centre for dispute resolution for Belt and Road Projects.

The Hong Kong Policy Research Institute has issued a report which includes a number of recommendations as to how to develop Hong Kong’s already strong dispute resolution services industry. The institute recommended that Hong Kong:

  1. Work to attract renowned arbitration bodies to set up offices in Hong Kong. HK already hosts the well regarded HKIAC and the regional office of the International Chamber of Commerce’s arbitral institution.
  2. Promote HK law as a governing law for Belt and Road contracts.
  3. Create a new position in the Department of Justice with responsibility for Belt and Road issues.
  4. Develop a database on the legal issues and environment prevailing in each Belt and Road country.
  5. Review and enhance its Arbitration Ordinance, being the legislation governing arbitration in Hong Kong to ensure that Hong Kong’s legal framework is up to date with legal and commercial developments in international arbitration.
  6. Develop its capacity to provide and support Islamic finance products – many of the countries along the Belt and Road have Muslim majorities..."


Web-link: http://www.lexology.com/library/detail.aspx?g=9e6dab01-48b9-4b40-aab6-657edef268...
Source: Berwin Leighton Paisner LLP
Language: English
Contact: Ilan Freiman, Ian Ivory and Nomita Nair


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