The 2019 Global In-House Report is an overview of hiring trends from a variety of sources, from the local knowledge of experienced consultants to our regional salary guides through to general market sentiment derived from interviews with senior contacts.
Below is an extract from the Singapore section. The full report contains market insights for Germany, BeNeLux. Italy, the Middle East, Turkey, South Africa, China, Hong Kong, Australia, the United Kingdom and North America.
The Singapore Legal Market
Singapore, the sovereign city-state in Southeast Asia, is renowned for its well-developed free market economy that is based primarily on trade, finance and manufacturing. The roots of Singapore’s legal system can be traced back to the English legal system and its economic success is built on the stability and fairness of its legal rules. Singapore sits at the very top of the World Bank’s global ratings for its effectiveness in enforcing contracts.
Singapore’s central location in Southeast Asia makes it a gateway to the Asia-Pacific. In contrast to many countries in South East Asia, the Singapore legal system encourages business with reasonable laws, the fair application of those laws, and quick and efficient dispute resolution, as evident from its efforts to develop itself as a dispute resolution hub for crossborder international arbitration and the recent signing of Singapore Convention on Mediation by various nations.
The legal market in Singapore continues to develop, thanks largely to the Singapore government’s initiatives to grow the sector and invest in the infrastructure that supports it. A liberalization of the market that enables international law firms to provide Singapore law advice, has encouraged them to grow their presences in the jurisdiction.