Rodyk To Partner EDB To Attract Overseas Companies Into Singapore
March 2012 | Corporate | Business Bulletin
Rodyk & Davidson LLP signed a Memorandum of Understanding (MoU) with the Economic Development Board (EDB) to help attract global mid-sized companies and Asian enterprises to use Singapore as a base to expand their business in the region; the first law firm in Singapore to do so.
The agreement is part of EDB's efforts to attract and anchor such firms to Singapore to boost Singapore's position as an essential global hub for business and investment. Under this collaboration, Rodyk will function as one of EDB's ‘multipliers', to engage more global mid-sized companies and Asian enterprises, through the provision of legal services to facilitate their establishment in Singapore as well as expansion into the region.
Philip Jeyaretnam, SC, Managing Partner of Rodyk & Davidson, said, "We are excited about this strategic partnership with EDB to fortify Singapore's position as a key international business hub. As Singapore's oldest law firm and having been in practice since 1861, we have been a part of the nation's entrepreneurial history. Serving as an EDB 'multiplier' is therefore a natural extension of our service offerings to global enterprises. With our legal practice becoming increasingly cross-border, it is more important than ever that our global outreach grows in tandem."
Rodyk has been one of the earliest Singaporean law firms to regionalise, having made its first entry into the China market in 1996. Cross-border work has grown and continues to be a large part of its business especially in its corporate, finance and arbitration practice. Currently, two-thirds of its corporate finance work is cross-border, with China emerging as a key regional market.
Dr Beh Swan Gin, Managing Director of EDB, commented, "We are pleased to collaborate with Rodyk. With its established regional presence and global networks, Rodyk is well positioned to engage and provide services to global mid-sized firms looking to expand in Asia, and to Asian enterprises growing beyond their domestic shores."
Rodyk is also the exclusive and sole Singapore member in both the World Law Group and the Pacific Rim Advisory Council. It recently hosted the 50th Pacific Rim Advisory Council conference, where more than 70 lawyers from international leading law firms met to discuss global legal issues such as international arbitration, data privacy rights and regional insolvency and banking work-out strategies.