Riyadh International Dispute Settlement Week (RIDW) to be Held Annually

The Saudi Center for Commercial Arbitration (SCCA) announced the launch of an annual event called “Riyadh International Dispute Settlement Week – RIDW,” intended to be a global event and an international platform that brings together all parties related to the dispute-settlement system to explore industry opportunities in the largest economy in the Middle East, exchange knowledge and experiences, and forge relationships and establish cooperation.

The center set March 3, 2024 as the start date for the first edition of the event, which will last for five days. It indicated that it will be an event held every year in March.

It is expected that the event will witness the holding of a large number of activities specialized in the commercial dispute-settlement system, including arbitration, mediation, litigation, and other related legal topics, accompanied by an international conference to be held by SCCA on the fourth day of the event, March 6, 2024, in partnership with relevant international organizations concerned with the industry.

For the first time, the center intends to hold the week of oral arguments in the 5th edition of the International Student Commercial Arbitration Competition “SCCA International Arabic Moot” in person, after it used to be held virtually. The step is expected to maximize the momentum that will emerge from holding both events.

The RIDW organization will be supervised by a committee that includes actors in the dispute-settlement industry from inside and outside the Kingdom, to govern the week’s business in a way that achieves growth and sustainability.

The center called on those wishing to organize events on the sidelines of RIDW, or to sponsor this annual event, to visit the official website of “Riyadh International Dispute Resolution Week at www.RIDW.org.

SCCA Chairman of the Board of Directors, Dr. Waleed bin Sulaiman Abanumay, explained that the Kingdom is progressing significantly towards developing its legislative and judicial environment, especially in light of the four major systems projects, the latest of which was the issuance of the Civil Transactions Law, accompanied by a large economic movement with major projects, establishing cities and special economic zones, attracting foreign investments and regional headquarters for international companies, which would make the Kingdom a regional hub for the commercial dispute-settlement industry.

The CEO of the Center, Dr. Hamed Meera, stated that the RIDW aims to enhance the soft power of the Kingdom, highlight the developments it is witnessing in the field of alternative dispute settlement, and establish confidence in its judicial environment as a safe place for commercial arbitration, in a way that contributes to the advancement of its business sectors and attracting local and foreign investments.