Singapore’s Ministry of Law has introduced a new Infrastructure Dispute-Management Protocol to help mega infrastructure projects around the region manage disputes and minimise the risks of time and cost overruns.
The protocol was launched at Enterprise Singapore’s (ESG) Asia-Singapore Infrastructure Roundtable as part of the efforts to establish the city-state as the infrastructure hub of Asia.
According to an Asian Development Bank report, Asia will need more than $1.7 trillion (S$2.3 trillion) of infrastructure per year from 2016 to 2030. These infrastructure projects can result in delays and higher costs, if not managed well.
The new protocol is expected to help organisations manage issues before they escalate into disputes. At the start of a project, organisations will appoint a Dispute Board which will follow the project from start to end to help manage issues which may arise.
The protocol also provides for professional and administrative support through the Singapore International Mediation Centre (SIMC) and the Singapore Mediation Centre (SMC) which can help with identifying and appointing Dispute Board members as well as with meetings, escrow and other administrative services.
It additionally provides a dispute-prevention approach, and in case disputes arise, it then provides a wide range of options to solve the issues at hand.
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