Logo of Phnom Penh Post newspaper Phnom Penh Post - NCAC and Singapore’s SIAC to promote international arbitration

NCAC and Singapore’s SIAC to promote international arbitration

Content image - Phnom Penh Post
NCAC and SIAC officials during the virtual MoU signing ceremony to promote international arbitration in commercial disputes on Thursday. SUPPLIED

NCAC and Singapore’s SIAC to promote international arbitration

The National Commercial Arbitration Centre (NCAC) and the Singapore International Arbitration Centre (SIAC) on March 24 signed a memorandum of understanding (MoU) to promote international arbitration as a “preferred method” for resolving commercial disputes.

According to a joint press release, the signing ceremony was held virtually and presided over by NCAC president Bun Youdy and SIAC CEO Gloria Lim.

On the basis of mutual interests, respect and understanding, the two institutions will provide each other with marketing support and, where possible, logistical support including onsite staff support for all events organised by either the NCAC in Singapore, or vice versa.

The two centres also envision the joint organisation of conferences, seminars, workshops and other events on international arbitration – held either in-person in Cambodia or Singapore, or in virtual or hybrid formats.

They will also develop and conduct training programmes and courses, upon request, for one another’s staff.

NCAC’s Youdy said: “We are pleased to finally formalise our collaboration with SIAC after having worked together for many years.”

He added that the NCAC was committed to harmonising with international best practices, and that enhancing their collaboration with the SIAC would bring great benefits to the centre’s users, businesses and the arbitration practitioner community.

“We also look forward to knowledge and experience sharing in the area of case management with SIAC,” he added.

SIAC’s Lim said Cambodian parties were increasingly entrusting their international disputes to SIAC.

She said this collaboration with NCAC provides a good platform for both institutions to jointly promote the benefits of international arbitration as an effective, efficient and enforceable mode of dispute resolution for cross-border commercial projects and investments involving companies, businesses and investors from Indochina and the rest of the world.

“We look forward to further deepening our ties with users in Cambodia and the Cambodian arbitration community,” she added.

Established by the 2006 Law on Commercial Arbitration, NCAC is an independent non-profit institution whose mission is to offer impartial and effective alternative dispute resolution, according to the joint press release. There are currently more than 60 arbitrators of diverse nationalities on the NCAC panel.


  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • Nestle’s debut may spur dairy market

    Leading confectionery manufacturer Nestle plans to invest in Cambodia by setting up an operation in the near future, a move majorly hailed by local dairy farmers as a means of boosting the fresh milk market in the Kingdom. During a visit by a delegation led

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement