25 July 2018
Keynote Address at Emergence Conference 2018
"As Asian countries, our shared goal is to unlock our full economic potential and sustain our economic growth and development, for the benefit of the people. You are probably familiar with two important initiatives – the ASEAN Economic Community, and the Belt and Road Initiative…
…However, businesses in Asia have said that they face difficulties tapping on these huge economic opportunities. The difficulties they have identified include trade restrictive measures, such as those relating to cross-border data transfers, as well as cross-border regulatory complexities, such as legal uncertainty and the poor enforcement of judgments.
In summary, from the business perspective, Asia’s cross-border legal infrastructure is not yet adequately supporting the region’s economic aspirations.
Legal convergence can provide solutions to these business challenges, by providing a robust cross-border legal infrastructure that facilitates access to economic opportunities for businesses. This in turn animates the achievement of prosperity for our people.
This also requires a stable and transparent rules-based environment, where the rule of law is upheld."
- Mr Ng How Yue
The above paragraph was from the Keynote Address delivered by Mr Ng How Yue, Permanent Secretary to the Ministry of Law, at the Emergence Conference 2018 on 25 July 2018. Click here for the full transcript.