Hong Kong authorities have launched a one-month consultation on proposed reforms of arbitration laws, as part of efforts to enhance the city’s competitiveness as an international dispute resolution hub and advance an objective laid out in its first local five-year plan.
The Department of Justice said on Monday that the one-month stakeholder consultation on amendments to the Arbitration Ordinance, which governs the use of the alternative dispute resolution mechanism, would cover four key areas to enhance the existing framework.
“Ultimately, these enhancements will attract more businesses to choose Hong Kong as their seat of arbitration and enable them to benefit from our enhanced arbitration legislative framework that keeps pace with the times, and our internationally recognised arbitration services,” a department spokesman said.