SINGAPORE, February 21, 2013—Duane Morris & Selvam LLP is pleased to announce that it has entered into an agreement with Singapore's Economic Development Board (EDB), a government agency dedicated to enhancing the country's position as a global business center. The parties will collaborate on a wide array of mutually beneficial business opportunities. The agreement was signed today and will continue at least through 2015.
In accordance with the agreement, Duane Morris LLP ("DM"), in conjunction with its U.S.-based public affairs unit, Duane Morris Government Strategies LLC ("DMGS"), and its Singapore joint law venture, Duane Morris & Selvam LLP ("DMS"), will seek to engage clients and contacts in the United States and Latin America to explore business and expansion opportunities in Singapore. DM, DMS and DMGS will be among the EDB's key partners to draw American and Latin American corporations to Singapore and the region.
The EDB is the lead government agency for planning and executing strategies to enhance Singapore's global economic position. The agency creates value-added solutions for domestic investors and companies to ensure and safeguard sustainable economic growth with vibrant business and favorable job opportunities. It focuses on extending the city's offerings to businesses, fostering local and foreign investment, encouraging expansion into new markets and providing feedback to other government agencies to ensure that infrastructure and public services remain efficient and cost-competitive.
Eduardo Ramos-Gómez, managing partner of Duane Morris' Asian offices and a former Mexican ambassador to Singapore, spearheaded the collaboration. He has practiced international and corporate law for more than 30 years, advising multinational and foreign companies in Asia, North America, Europe and Latin America on cross-border direct foreign investment, project development and project finance. His practice encompasses a broad range of international investments; mergers and acquisitions; securities; financing; joint ventures; licensing; venture capital formation and investments; privatization; infrastructure projects; and other corporate transactions in the United States, Latin America and Asia.
"This agreement is a boon for our clients looking to forge new connections and establish operations in Asia," said John Soroko, Chairman of Duane Morris. "Leveraging our existing and future contacts on both sides of the Pacific, and bolstered by this agreement, Duane Morris will act as a bridge for investment and growth. We are pleased to collaborate with the EDB toward our common goals, and look forward to a strong and productive relationship."
"Singapore is a vibrant city that has developed rapidly into a hub for business and innovation," said Ramos-Gómez. "It's easy to see why. Our highly educated workforce, business-friendly climate, well-developed legal system and proximity to markets throughout Asia and the Middle East create a particularly attractive target for new investment. We hope to provide our clients with the means to succeed and indeed thrive in Singapore. Our agreement with the EDB is an ideal way to do just that."
"This move to partner with Duane Morris is timely as it further strengthens Singapore's position as a premier global and regional legal services hub," said Quek Swee Kuan, Deputy Managing Director of EDB. "Through this strategic alliance, we look forward to working with large and mid-size business corporations in the United States and Latin America to establish a presence in Asia. Singapore presents to these companies a unique offering as a springboard for them to internationalize."
Singapore boasts a free-market economy with one of the highest per capita gross domestic products in the world. The country has seen rapid growth in the past decade, due in large part to government efforts to establish the country as a Southeast Asian financial center. Though its economy is primarily services-based, it counts machinery and equipment, including electronics and telecommunications; pharmaceuticals and other chemicals; and refined petroleum products among its chief exports. It also boasts strong international trading links—the Port of Singapore is one of the world's busiest in terms of tonnage handled.
About Duane Morris LLP
Duane Morris LLP, a global law firm with more than 700 attorneys in offices across the United States and around the world, is asked by a broad array of clients to provide innovative solutions to today's legal and business challenges.
About Duane Morris & Selvam LLP
Duane Morris & Selvam LLP is the joint law venture consisting of international law firm Duane Morris LLP and Singapore-based Selvam LLC, with its headquarters in Singapore. It serves clients throughout Asia, as well as companies based in the Americas and Europe that are conducting business in Asia and Asian entities and individuals doing business in the Americas and the United Kingdom. Duane Morris & Selvam's attorneys represent publicly listed companies, investment banks, individuals and numerous large and small private companies from around the world. Duane Morris & Selvam LLP's practice capabilities span mergers and acquisitions, takeovers, corporate finance, banking and securities, financial services, international joint ventures, commercial real estate, Islamic finance, intellectual property, litigation, shipping and arbitration. Its joint venture parent firm, Selvam LLC, is regularly ranked among Singapore's top corporate finance and mergers and acquisitions law practices by Chambers & Partners, Leading Lawyers and the International Financial Law Review 1000.
About Duane Morris Government Strategies LLC
Duane Morris Government Strategies LLC (DMGS) supports the growth of organizations, companies, communities and economies through a suite of innovative government and business consulting services. DMGS has a national presence with professionals in locations around the country, including Washington, D.C.; Pennsylvania; New Jersey; and Ohio.