KUCHING: The Asian International Arbitration Centre (AIAC) will open a branch in Sarawak as a regional hub for alternative dispute resolution.
The Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said the new branch will provide premises for dispute resolution, particularly in international trade and business issues, boosting the confidence of investors and multinational companies that there is sufficient legal protection for their interests.
"Not only can you go to court, but you must also have a legitimate expectation that there is a platform handling international disputes efficiently and quickly," she told reporters after the Sarawak government and AIAC formalised an agreement to set up the branch at the Sarawak Legislative Assembly complex on Wednesday (Oct 19).
Sarawak Premier Tan Sri Abang Johari Openg and Azalina witnessed the exchange of the agreement between Sarawak state secretary Datuk Amar Mohamad Abu Bakar Marzuki and AIAC chief executive officer Datuk Danesh Chandran.
Azalina said the Sarawak branch, AIAC's first outside Kuala Lumpur, will be implemented next year with the appointment of several key members.
She said Abang Johari had earmarked the Sarawak Textile Museum building for the branch, with a RM10mil allocation for its upgrading.
"I've seen the building. It's the perfect choice as it is in the heritage area and has a lot of history.
"At the same time, we believe this is the kind of messaging we want to give the world, that Malaysia has international standards not only as a financial hub, investment (destination) and petro-businesses, but also in dispute resolution."
Azalina added that Sarawak was the right choice to house AIAC's regional hub as the state was rapidly growing in international trade.
"This is not just a branch. It will be AIAC's major hub, attracting international lawyers and law chambers to the premises in Sarawak to settle disputes," she said.
In a media release, AIAC said the Sarawak branch aims to establish the state as a preferred investment destination by ensuring that commercial disputes are effectively resolved.
It also underlines AIAC's commitment to developing the alternative dispute resolution (ADR) landscape in Sarawak and Borneo.
"Importantly, the Sarawak AIAC aspires to become a value-creating entity that bridges ADR collaboration, creates employment opportunities, cultivates talent through capacity building and empowers the local community in this collective pursuit," AIAC said.
