The Importance of the Rule of Law in Promoting Development -23 May 2014
The Bingham Centre, in conjunction with Linklaters and the Singapore Academy of Law, hosted a one day symposium in Singapore in 2014 to explore how the different components of the rule of law, such as legal certainty and transparency of laws, incorruptibility, order and security, equal application of the law and access to justice, influence economic progress, social development and political stability. Understanding these connections is not only important from the perspective of the judiciary, governments and state institutions; it is also very relevant to decision-makers in the private sector, including business and finance leaders, and international investors.
While a global exchange of ideas about the rule of law is inherently valuable, the debate was particularly timely at present. It is expected that the rule of law will be included as an element or at least an enabling factor in the Sustainable Development Goals ("SDGs") which will be considered by the UN General Assembly in September 2014 with a view to replacing the UN Millennium Development Goals after 2015.
The questions that arose are of practical as well as theoretical importance. How in practice, is the rule of law interrelated with and how does it reinforce economic and social development? What do businesses, financial institutions, international investors, policy-makers and legal practitioners see as the key rule of law challenges in each of their fields? How may these challenges be better addressed?
View the full programme in the conference brochure.