Singapore Proposes Changes to Boost Arbitration Hub Status

Singapore, which is seeking to create a “multi-billion dollar” market for resolving cross-border disputes, has proposed legislative changes to boost its status as an arbitration hub.

The Southeast Asian city plans to allow arbitration agreements made orally, instead of only in writing, according to a statement by the Law Ministry today.

To contact the reporter on this story: Andrea Tan in Singapore at atan17@bloomberg.net

To contact the editors responsible for this story: Douglas Wong at dwong19@bloomberg.net