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SINGAPORE: Singapore will be putting forward its bid to host an international tribunal to resolve investment disputes, given a global need for a “credible, trusted” institution to hear such cases, Law Minister Edwin Tong announced on Tuesday (Aug 25).<\/p>\n
The proposed Multilateral Investment Tribunal, which is currently under discussion by member states of the United Nations Commission on International Trade Law (UNCITRAL), will be housed in a dedicated building for hearings if Singapore’s bid is successful.<\/p>\n
Separately, the National University of Singapore (NUS) and Ministry of Law (MinLaw) will establish a Centre for Arbitration and International Dispute Resolution to drive thought leadership and innovation in this area.<\/p>\n
“We often say … the world order is breaking down, trust in the system is eroding, countries are pulling away from multilateralism,” Mr Tong said at the opening of the UNCITRAL Academy Conference in Singapore.<\/p>\n
“There’s ‘friendshoring’, ‘reshoring’. People ignore the rules-based system. But I think we need to ask ourselves that second question as well: If this is happening, what are we doing about it?”<\/p>\n
At a time when international institutions are under strain, Singapore’s efforts strengthen the value proposition behind a rules-based, multilateral system to resolve international disputes, said Mr Tong.<\/p>\n
The need for a trusted investment dispute settlement system has never been more acute, he said of the tribunal.<\/p>\n
Even as treaty-based investor-state dispute settlement cases have risen in the last decade, the framework to resolve them has been tested by inconsistent decisions, concerns about regulatory interference, and questions about arbitrator independence and impartiality, he said.<\/p>\n
“The legitimacy of this system is being strained at precisely the moment it is needed the most.<\/p>\n
“The urgency is compounded by the fact that states today are intervening and regulating more actively than ever \u2013 in areas such as public health, energy security, climate change and national security.”<\/p>\n
The question is whether there is a credible and trusted institution to resolve disputes when they arise, he said.<\/p>\n
Singapore offers a neutral and stable jurisdiction grounded in the rule of law, with a mature dispute resolution ecosystem and links to developed and developing economies alike, said Mr Tong, who is also second minister for home affairs.<\/p>\n
He added that the country is prepared to house the tribunal in a building equipped for hearings, with room for tribunal members, the registry and supporting facilities.<\/p>\n
This bid reflects Singapore’s commitment to doing its part to build a credible, accessible and fit-for-purpose institution, and hence to strengthen the rules-based international order that countries around the world depend on, he said.<\/p>\n
Investor-state dispute settlement allows foreign investors to bring claims directly against states if they believe there have been breaches, such as of fair and equitable treatment and protection against unlawful expropriation and discrimination.<\/p>\n
There were 1,463 known treaty-based investor-state dispute settlement cases as of the end of 2025, according to a factsheet by MinLaw.<\/p>\n
Mr Tong said that even established institutions like the World Trade Organization (WTO), whose dispute settlement system used to be seen as the gold standard, are feeling the strain.<\/p>\n
Appointments to the WTO’s appellate body have been blocked since 2017, leading it to have insufficient judges to hear appeals. More than 30 appeals were pending as of the end of 2025.<\/p>\n<\/div>\n
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