Following is the speech by the Secretary for Justice, Mr Paul Lam, SC, at the seminar entitled “New Arbitration Funding Options in Hong Kong – Making Your Best Informed Choice” today (February 23):
Distinguished guests, ladies and gentlemen,
Good afternoon. It gives me great pleasure to say a warm “Hello” to every one joining the seminar today, both physical and online, with participants from around 20 jurisdictions (Note).
Earlier this month, the Hong Kong Government launched a brand new campaign – “Hello Hong Kong” to welcome the rest of the world to visit Hong Kong for firsthand experience on what Hong Kong has to offer, from business opportunities, legal and dispute resolution services, and to our rich culture and tourism attractions. We are ready and eager to present the best of Hong Kong to the world after the three-year hiatus.
As a leading centre for international legal and dispute resolution services in the Asia-Pacific Region, over the past 25 years under the principle of “One Country, Two Systems”, Hong Kong has showcased to the world its unique advantages with staunch national policy support including for example the 14th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area Development Plan etc. We are also blessed with our strong rule of law, independent judiciary and our deep pool of legal and dispute resolution professionals. With these unparalleled edges, Hong Kong is back on the world stage with greater resilience to navigate future headwinds.
Today’s seminar on Outcome Related Fee Structures for Arbitration (ORFSA) is an example of the dedicated efforts of the Department of Justice to continuously refine our arbitration law to capture the contemporary needs of international clients and create new opportunities for our legal and dispute resolution sector.
As a world-renowned international arbitration centre, Hong Kong is akin to a diverse food hall welcoming guests from around the globe to enjoy the full-fledged and tailor-made dispute resolution services offered here. Bringing arbitration funding options into focus, today’s seminar will give you insights on Hong Kong’s latest innovative and comprehensive funding options, generating new momentum to all arbitration users and practitioners in Hong Kong and beyond. So I wish you a very fruitful afternoon. Thank you very much.
Note: Australia, Canada, China, France, Guatemala, Hong Kong, India, Indonesia, Japan, Macao, Malaysia, the Philippines, Singapore, South Korea, Switzerland, Taiwan, the United Arab Emirates, the United Kingdom and the USA (Note: Based on the current list as at 13.2.2023, we have participants from 19 jurisdictions registered)