London: Dr. Kamal Abdullah Al Hamad, Secretary-General of the GCC Commercial Arbitration Centre, took part in a pivotal meeting at the London Court of International Arbitration (LCIA), emphasizing the critical role of commercial arbitration and dispute resolution in attracting foreign investments to the Gulf region.
According to Bahrain News Agency, Dr. Al Hamad acknowledged the LCIA's enduring efforts and its partnership with the GCC Commercial Arbitration Centre to foster a secure and efficient investment environment. He highlighted arbitration's essential role in protecting investor rights and ensuring legal certainty, both crucial for the GCC's economic growth and its attractiveness to global investors.
During his presentation at the meeting, Dr. Al Hamad detailed the Centre's initiatives aimed at strengthening arbitration systems across GCC countries. These initiatives include promoting a transparent legislative environment, ensuring effective enforcement of arbitration decisions, developing a skilled pool of arbitrators and experts, and providing ongoing training to uphold the quality and credibility of dispute resolution processes.
He further stressed the significant contributions of arbitration centres, commercial courts, and related institutions within the GCC in enhancing legal awareness and advocating for arbitration as a reliable alternative to litigation. He asserted that arbitration plays a key role in fostering an investment-friendly atmosphere and encouraging capital inflow into host countries.
The meeting concluded with both parties agreeing to enhance cooperation and share expertise in dispute resolution, aiming to support sustainable investment development throughout the Gulf region.