Hong Kong’s arbitration industry needs more government funding if the city is to uphold its reputation as a centre for dispute resolution internationally, legislative council member Dennis Kwok has said.
Speaking at Hong Kong Arbitration Week, Kwok called on the Department of Justice to top up the professional services development fund, which has previously supported the Hong Kong International Arbitration Centre (HKIAC), in a bid to prevent the city from losing out to competitor jurisdictions such as Singapore and Malaysia in the race to become Asia’s top disputes hub.
