SINGAPORE – To address a rising number of complex investment disputes across Asia and the Pacific, the World Bank Group has set up a new international dispute resolution office in Singapore – the Washington-based centre’s first staffed overseas outpost.
The International Centre for Settlement of Investment Disputes (ICSID) officially launched its office here on Aug 26.
In a joint statement, the Ministry of Law and ICSID said the new hub will support parties and lawyers involved in cases, engage governments, investors and legal practitioners, and help prevent, manage and resolve investment disputes in the region.
ICSID provides a neutral international forum for resolving disputes between foreign investors and governments. Its purpose includes reducing perceived investment risks and helping to create stable conditions for cross-border investment.
Minister for Law and Second Minister for Home Affairs Edwin Tong said at the launch that longstanding arrangements underpinning international trade and investment are being tested as trade relations between major economies grow more contested.
“Investors and states alike are operating with much less certainty than before,” he said.
Demand for investment dispute settlement services has also grown. As at 2025, 1,085 arbitration and conciliation cases had been registered under the ICSID Convention and Additional Facility Rules. In 2025 alone, 63 new cases were registered, one of the highest numbers in its history.
Tong also mentioned Singapore’s bid to host the proposed Multilateral Investment Tribunal (MIT), a permanent body to adjudicate international investment disputes. If the tribunal is established, he noted there would still be a role for ICSID and other arbitral institutions to administer arbitration cases, with parties potentially appealing decisions to the MIT.
Minister for Law and Second Minister for Home Affairs, Edwin Tong, said at the launch of ICSID that longstanding arrangements underpinning international trade and investment are being tested as trade relations between major economies grow more contested.
PHOTO: MINISTRY OF LAW, SINGAPORE
Tong said having ICSID based in Singapore would put it closer to governments and investors across South-east Asia and the wider region, and give it a better understanding of their needs.
“This will allow ICSID to better serve the region’s needs in investment dispute prevention and resolution, especially at a time when the volume and complexity of such disputes in the region continues to grow,” he added.
ICSID’s Singapore office will be housed at 10 Marina Boulevard with the other four World Bank Group organisations, and it will also have a presence at Maxwell Chambers Suites.
The office will be led by ICSID chief counsel Frauke Nitschke and senior legal counsel Jon Chevry, alongside legal counsel Yuichiro Omori and Carlos Molina Esteban.
ICSID secretary-general Martina Polasek said the opening was “a signal of our confidence in Singapore and the region, and in the central role that fair and effective dispute resolution plays in building the investment climates the world needs”.
She said ICSID, which was established in 1966, was ready to work with Asia-Pacific states across its range of services, including helping them prevent and manage investment disputes.
Singapore has been a contracting state to the ICSID Convention since October 1968.
Tong said the Republic’s decision to join the convention shortly after independence was part of its strategy to attract foreign investment by assuring investors that disputes could be resolved through an independent and neutral international institution.
“We depend on a stable, rules-based global order, and we have no interest in a world where outcomes are decided mainly by size and might rather than by law,” he added.
