33 of 2022).The arbitration law reform proposed by President Kwong was enacted as the Hong Kong Arbitration (Amendment) Ordinance 2017. It highlights the advantages of using Hong Kong law as the governing law of arbitration agreements and Hong Kong as the seat of arbitration. The Department of Justice is actively seeking to expand the scope of application of the measures of "Hong Kong capital, Hong Kong law" and "Hong Kong capital, Hong Kong arbitration" to the entire Greater Bay Area. This will allow more Hong Kong-funded enterprises in the region, including foreign-funded enterprises established in Hong Kong, to choose Hong Kong law as the applicable law for civil and commercial contracts and select Hong Kong as the place of arbitration. About Hong Kong Institute of Arbitrators (HKIArb)Hong Kong Institute of Arbitrators (HKIArb) is a Hong Kong company limited by guarantee established in September 1996.

Source: Viet Nam News May 20, 2024 04:08 UTC