Baker McKenzie release regulation guide to Asia Pacific region

Multinational law firm Baker McKenzie have released their Asia Pacific Construction Guide to help navigate the complex world of international regulations and political issues.

The guide takes into account the rapid urbanisation, rise of megacities in emerging economies, and regulatory issues in commercial contracts across the Asia Pacific region.

According to Baker McKenzie, the construction industry in emerging markets is expected to double within a decade and become a $6.7 trillion business and will be 55% of the global construction output by 2020.

The guide also looks at the outlook across the region and found significant infrastructure spending occurring in Australia, China, Hong Kong, Japan, and the Philippines, but growth is expected to flatten or slow in China, Indonesia and Singapore.

“When you factor in China’s ‘One Belt One Road initiative; one cannot underestimate the wave of construction to come,” Baker McKenzie’s Asia Pacific Head of Construction Anthony Whelan said.

“In this climate, issues regarding the interpretation and enforceability of contracts in the region become increasingly complex, given Asia’s diverse legal traditions (civil law, common law and mixed) and differing approaches to commercial issues,” he said.

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