Commercial law is one of the main deficit areas in transition economies and in countries seeking to move up the economic value chain. Globalization has vastly expanded the need for competence in this field. A sound knowledge and practice of commercial law facilitates economic integration. It enables poorer nations to secure better terms in international or bilateral trade agreements, and empowers resource-rich ones to handle large foreign investment flows. Where investment is scarce, commercial law capacity encourages it by improving the overall business climate.
In recent years, following a growth spur which made it the fastest growing economy in the world, Mongolia has experienced rapid economic and social downturn. Although the years of growth yielded wealth and investment, the country was unable to prepare for a recession due to corruption, inflation, distortion of the local economy and environmental degradation. One of the key obstacles to sustainable growth and development is the weak and poorly prepared judiciary.
IDLO has handed over ‘popular versions’ of the Kenya Mining and Minerals Policy to the Kenyan government during the opening session of the first Kenyan Mining Forum.
The mining sector is seen as having the potential to contribute significantly to Kenya’s economic development.
Indonesia is facing challenges from embezzlement of stolen assets, which has a negative impact on the country’s political, social, and economic development. Asset-recovery procedures prove to be complex, time-consuming and require expertise and political will. The procedures also require various government bodies to coordinate their actions and engage in resource-intensive processes. To respond to these issues, the Indonesian Attorney General’s Office established an Asset Recovery Centre (Pusat Pemulihan Aset or PPA) dedicated to manage all asset recovery-related issues.
As Kuwait continues to establish a welcoming climate for foreign investment and develops policies to expand the role of the private sector in the production of goods and services, easier access to regulatory information is needed. Access to this information is associated with greater regulatory efficiency, lower compliance costs, and better quality for businesses. Currently, English translations of Kuwaiti commercial laws are only available through paid services.
Italian and Montenegrin justice sector counterparts and government representatives discussed enhancing public access to judicial information in commercial law cases and ways to further strengthen Italian-Montenegrin legal cooperation in a roundtable event held at IDLO’s headquarters in Rome.
As part of IDLO’s continuous commitment to accountability and results-based management, IDLO is pleased to share this Evaluation Brief (summarised evaluation report): “Implementation of a Commercial Law Judicial Training Program in Tajikistan” (2011-2014). The evaluation has been conducted by independent evaluation experts, supervised by IDLO’s Evaluation Unit. This exercise utilized a theory-driven, mixed-method approach, in line with the IDLO Evaluation Guidelines and OECD DAC standards.
As part of IDLO’s continuous commitment to accountability and results-based management, IDLO is pleased to share this Evaluation Brief (summarised evaluation report): “Commercial Law Judicial Capacity Building in Mongolia”. The evaluation has been conducted by independent evaluation experts, supervised by IDLO’s Evaluation Unit.
Mongolia has formally joined IDLO, the latest stage in an expanding partnership for the advancement the rule of law. The first communist-ruled nation outside the Soviet Union, Mongolia has over the last two decades built a democracy that is untypical of its region. But for all the efforts of its political class and civil society, it has some way to go to improve governance, enhance access to justice, and reduce inequality.
Many national and foreign businesses seeking dispute resolution are still unaware that Mongolia offers faster, more cost-effective options than the courts. To promote these options, IDLO has helped establish Mongolia's first private mediation center and assisted in creating the first Mongolian corps of world-class commercial mediators. Established at the Mongolian National Chamber of Commerce and Industry, with main premises in Ulaanbaatar and a branch office in the second largest city of Darkhan, the center benefits from close proximity to Mongolia's business community.
The Gambia’s transition to democracy has led to an increase in foreign investors wishing to undertake commercial and infrastructure projects in the country. While an opportunity to strengthen the country’s markets, The Gambia recognizes that foreign investment may easily turn into a potential liability if not properly managed and regulated. To address this concern, IDLO has been requested to provide State Counsels and relevant government actors with specialized knowledge in commercial and investment law to be able to provide effective legal advice on transactional matters.
Tunisia has achieved considerable economic progress in recent years despite regional challenges affecting foreign direct investment (FDI) inflows. Because FDI is so critical to the economic growth necessary to underpin economic growth and stability, Tunisia recognizes the need to attract and retain more FDI, building on the investments already made in the country. With the guidance and support of the Ministry of Development, Investment and International Cooperation (MDICI), Tunisia has engaged with IDLO to strengthen Tunisia's institutional capacity in relation to intern
Alternative dispute resolution, and in particular mediation, is finally gaining momentum in Tajikistan. Previous attempt to introduce law on mediation in Tajikistan have not been successful and consequently there is currently no formal legal framework for mediation. In the first phase of the project, the International Development Law Organization worked to promote commercial mediation and build momentum for its expansion. However, there is still the need to provide assistance to the Chamber of Commerce and Industry Mediation Center and improve its effectiveness.
Justice within the context of commercial law is premised on the fact that an effective commercial justice system meets and facilitates the specialized needs of the business community and the private sector at large. However, there are persistent challenges related to the dispensation of commercial justice in Kenya.
In recent years Jordan has taken significant steps toward promoting economic development, including through strengthening rule of law. Judicial specialization in relevant areas, while promoting an enabling environment for capacity development within the relevant judicial institutions is crucial to maximize the impact of those efforts and ensure sustainability. At the same time, attention has been given to encouraging entrepreneurship, in particular women entrepreneurs, as a means to achieve economic growth.