Recently, the International Centre for Settlement of Investment Disputes (ICSID) has signed a Letter of Intent with Singapore Ministry of Law (MinLaw) to formalise the establishment of the ICSID Singapore Office. The office will be ICSID’s first staffed office outside of its headquarters in Washington, D.C. The new office will serve as ICSID’s regional hub, from which ICSID can administer ICSID cases, further provide capacity-building and training, and engage more closely with Government officials, law practitioners, and organisations in Singapore and across the region.

ICSID, one of the five organizations of the World Bank Group, promotes cross-border investment by providing a neutral and reliable forum for resolving investment disputes. The Centre currently counts 158 member states. Singapore became a contracting state in 1968 and has continued to nominate local practitioners to ICSID’s Panel of Arbitrators and of Conciliators for appointment in arbitration and conciliation proceedings.