For some lawyers in Singapore, doing business abroad is tricky.
To help push law firms in Singapore onto the international stage and into Asian markets, the Ministry of Law launched a new program earlier this month.
“Lawyers Go Global” will help send at least 200 lawyers from Singapore abroad over the next three years to network with international businesses and help other lawyers develop branding strategies.
Each trip can accommodate up to 35 lawyers over five days. The first trip will leave for Guangzhou, China in April.
The goal? The Ministry of Law wants to see Singapore partake in the international demand for legal services. Its focus is on helping smaller and medium-sized firms that have the expertise by lack the resources “to do their own market research and explore overseas markets on their own.”
Experts estimate that within Asia-Pacific alone, the legal services field will grow 5.5 percent per year by 2019. They expect to see the trend either continue at that rate or increase, propelled by China’s One Belt One Road initiative.
The Law Society of Singapore and International Enterprise Singapore will work with the Ministry of Law to develop the program and ensure that lawyers in Singapore know about the opportunity.
In an article on Today Online, Senior Minister of State for Law and Finance, Indranee Rajah said that it’s the right time for the venture. She said, “… we’ve gotten to the size where we have the right capabilities and we’re ready to venture out.”
Gregory Vijayendran, Law Society president said, “We want to let professionals from other jurisdictions know that we’re not here to take from your rice bowl. We’re looking at a win-win solution… bearing in mind that some deals will have that cross-border flavor.” He added, “So, there are opportunities for all of us to collaborate.”
Learn more about studying law in Singapore.