KUALA LUMPUR, Dec 20 — The government is studying a proposal to set up an International Commercial Court in Malaysia, said de facto law minister Datuk Seri Azalina Othman Said today.
The minister in the Prime Minister’s Department said that this initiative aims to put Malaysia on the map as a premier destination in the region for dispute resolution involving commercial law.
“At the same time, it will increase foreign investment confidence in us, in line with our unity government’s agenda to attract foreign investment into the country through suitable models,” she said in a statement on Facebook.
Azalina said she met with Chief Justice Tun Tengku Maimun Tuan Mat and representatives of the judiciary at the Palace of Justice in Putrajaya this morning to discuss the matter.
An international commercial court is a specialised court within a country’s justice system that is designed to handle complex disputes arising from cross-border business transactions.
Examples of such a court include the United Kingdom Commercial Court, Dubai International Financial Centre Court, and Singapore International Commercial Court.
