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| No.3 June, 2011 |
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Boost for Hong Kong's development as an international arbitration hub |
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 The Hong Kong Government will provide additional floor space in Two Exchange Square to the Hong Kong International Arbitration Centre to expand its hearing and office facilities, Secretary for Justice Wong Yan Lung announced.
Mr Wong said the provision of floor space is a clear demonstration of the Government's determination to work with the arbitration sector to establish Hong Kong as a leading arbitration centre of the Asia Pacific.
Noting the centre's floor space will double to about 1,270 square metres, Mr Wong said he hopes the expanded facilities will enable it to meet the demand of users from across the region, including those from the Mainland.
"With the additional hearing facilities, we can also attract more international arbitral institutions to come to Hong Kong, just as the ICC International Court of Arbitration did two years ago.
"With the expansion of the centre, I am confident businesses around the world will find Hong Kong even more attractive as a preferred venue for arbitration, as well as for setting up businesses.
"The Government is committed to the policy of promoting Hong Kong as a regional centre for international arbitration."
New Arbitration Ordinance
With the launch of the new Arbitration Ordinance on June 1, Mr Wong said Hong Kong has entered a new era. The new regulatory framework will enable arbitration to realise its full potential as a dispute resolution mechanism, and will further strengthen Hong Kong's credentials as the regional hub for international arbitration.
Mr Wong said the new arbitration law meets the latest and best international practice, and is more familiar and easily accessible to both local and foreign arbitration users and practitioners.
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