(Budget) HK$150m for dispute resolution online platformLocal | 27 Feb 2019 12:10 pm
Paul Chan says HK$150 million will be provided to support the development and initial operation of the dispute resolution online platform by non-governmental organisations (NGOs) to improve the development of LawTech in Hong Kong and consolidate Hong Kong’s position as an international dispute resolution services center.
"The NGO concerned is preparing for the development of a cross-boundary, efficient, secure and cost-effective platform for the provision of online arbitration and mediation, as well as smart contract and related services. I will provide HK$150 million to support the development and initial operation of the platform. The platform will benefit local micro-enterprises and SMEs, as well as those in the Belt and Road economies, members of the ASEAN and beyond, and facilitate deal making as well as dispute avoidance and resolution.''