4 ASIAN LEGAL BUSINESS – JANUARY-FEBRUARY 2024 WWW.LEGALBUSINESSONLINE.COM BRI EFS CHITANONG POOMIPARK, chief legal officer, Dusit International I am committed to ensuring that we proactively identify and address potential challenges to safeguard the Dusit Group’s operations. Here is an overview of the key risks we foresee, and the mitigation measures we are implementing: Regulatory compliance: Evolving regulations in the hospitality industry may pose compliance challenges. Our legal team stays abreast of legislative changes, and engages in ongoing compliance training, to ensure proactive adherence to all relevant laws. Cybersecurity threats: Increasing sophistication of cyber threats target customer data and business operations. We have invested in robust cybersecurity measures, conducted regular vulnerability assessments, and prioritised employee training to enhance awareness and resilience against potential cyber-attacks. Health and safety concerns: Ongoing health and safety concerns, including potential outbreaks, affect our workforce and guests. We have established comprehensive health and safety protocols and keep monitoring global health trends. Environmental and sustainability challenges: Concerns about environmental impact and sustainability are growing. We are committed to sustainable practices, regularly assess our environmental impact, and collaborate with suppliers who share our commitment to eco-friendly initiatives. In conclusion, our legal team is dedicated to staying vigilant, proactive, and agile in addressing the dynamic landscape of risks in the hospitality and related sectors. We maintain a robust risk management framework and foster a culture of compliance and adaptability to be well-prepared for challenges that 2024 may present. DORIS CHEN, head of legal APAC and India, dsm-firmenich Asia, with its complexity and indispensability, continues to be a critical market for multinational companies (MNCs). General Counsels (GCs) in this region navigate a labyrinth of multi-language environments, diverse ethical customs, and unpredictable regulatory systems. As we transition from the tumultuous year of 2023 into another uncertain year in 2024, the role of GCs in Asia is poised to evolve significantly. In 2024, geopolitical and economic tensions are expected to persist, if not worsen, impacting the regulatory environment and adding layers of complexity. Trade tensions between major economies, for instance, could lead to fluctuating tariffs, export controls, and other regulatory measures directly affecting MNCs in Asia. GCs must be prepared to address the legal implications of these broader geopolitical dynamics. The increasing focus on environmental, social, and governance (ESG) issues presents another dimension of challenges for GCs. Stakeholders, including investors, customers, and employees, demand greater accountability and transparency on ESG matters. GCs must collaborate closely with other C-suite executives to develop and implement strategies that align with these principles. The integration of ESG and AI-based digital transformation is becoming a relevant strategy for managing business value and sustainability in corporate green management operations. Moreover, the digital transformation of businesses is a pivotal challenge for GCs. They must adapt to the rapidly evolving business landscape and equip themselves and their teams with legal technologies such as AI, e-discovery tools, and contract management tools. The identification of financial FORUM BULLETPROOFING THE FUTURE The year 2024 is shaping up to be one that combines optimism and caution. Geopolitical contagion and economic headwinds continue to cloud companies’ planning, while market optimism and bullish prospects on emerging technologies ignite hope for better days ahead. General counsel share with ALB the risks they perceive, and how they plan to hedge against them. AS A GENERAL COUNSEL, WHERE DO YOU SEE THE BIGGEST RISKS IN 2024, AND HOW ARE YOU AND YOUR TEAM LOOKING TO MITIGATE OR GUARD AGAINST THESE RISKS? CHITANONG POOMIPARK DORIS CHEN DANIEL CHOO JASMINE KARIMI
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