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Prabhash Ranjan's article in the Manchester Journal of International Economic Law examines India's engagement with international investment law and investor-state dispute settlement (ISDS), analyzing cases through the lens of competing narratives. The text emphasizes the complexities of ISDS cases, highlighting the need for transparency and engagement in reform processes. By discussing specific disputes like Philip Morris v. Uruguay and Bernhard van Pezold v. Zimbabwe, the author offers valuable insights into the dynamics between foreign investors and host states, contributing to a deeper understanding of international legal issues. [Extracted from the article]

This paper proposes a structured, tiered framework through a UNCITRAL Model Law to gradually integrate artificial intelligence (AI) into foreign investment law arbitration in an ethical and effective manner. It also explores the critical role arbitration institutions can play in facilitating AI implementation. It details how AI can assist arbitrators by searching vast datasets, automating routine tasks, and enhancing decision-making through analysis of previous cases. Current AI regulations in regions like the EU, UK, and Canada fall short in addressing the complexities of cross-border arbitration and ensuring interoperability. By emphasising the distinct contributions of the proposed UNCITRAL Model Law and arbitration institutions, the paper highlights a multi-faceted strategy to overcome challenges posed by outdated international conventions, inconsistencies in bilateral investment treaties, and the lack of comprehensive guidance. This approach aims to refine the integration of AI in arbitration processes, enhancing efficiency, fairness, and the legitimacy of the arbitration system. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia's previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country's evolving private law framework. Design/methodology/approach: This paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade. Findings: The paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms. Originality/value: It will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom's ambivalent investment law regime. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Anbar University for Law & Political Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this study paper is to examine Jordan's mineral development and investment policies. Mining policies that attract foreign investment must handle both traditional investor concerns and some new challenges. The paper delves deeply into issues such as a country's geological, political, financial, regulatory, operational, fiscal, social, and environmental characteristics, as well as profit and marketing factors. After analyzing these criteria for Jordan, they were compared to the MENA region in order to provide insights into potential changes and improvements to both the MENA and Jordan mineral policies. International investors have not been drawn to Jordan's mineral resource sector for a number of reasons, including—but not limited to—a lack of digitally available and accessible geological data, lack of access to finance exploration projects, an unfavorable legal and fiscal environment, lack of many of the best practices for transparency standards, and lack of awareness and promotion of Jordan's mineral potential among international businesses. For Jordan to improve its standing in the world for investing in mining, it needs effective mining regulations, effective regulatory agencies, very lenient foreign investment laws, highly competitive tax system, enormous geologic potential, highly qualified personnel, exceptional local expertise and skills, modern infrastructure, and stable political and economic systems. [ABSTRACT FROM AUTHOR]

Sovereignty is an age-old concept that continues to occupy centerstage in international law discourse. This article attempts to look at India's tryst with international investment law through the prism of sovereignty, positing it as the right of the state to regulate it in public interest. It divides India's experience with international investment law in three phases – the periods of preserving (1947–1990), delegating (1991–2010), and reclaiming (2011 onward) sovereignty. The article shows how India's rendezvous with international investment law moved from zealously guarding India's sovereign space by not accepting international law on foreign investment in the first four decades of India's independence to delegating sovereignty to international law on foreign investment from 1991 onward. However, the period from 2011 onward saw India reclaiming some of its ceded sovereignty by significantly altering its terms of engagement with international investment law. [ABSTRACT FROM AUTHOR]

This article considers China 's Foreign Investment Law of 2021, a piece of domestic legislation which sets out the requirements under which foreign investors will be screened for entry into China, as well as how they will be protected after entrance. The legislation provides details on the government departments which are charged with reviewing incoming investments as well as lists of restricted sectors. Generally the legislation represents an enhancement of liberalization over the previous period, potentially enabling China to continue to attract high levels of foreign investment across a range of sectors. The second part of the article highlights the importance of State-Owned Enterprises to the Chinese economy which underpins some of the country's policies towards foreign investors. This is reflected in China 's increased emphasis on competition, even among markets where SOEs are entrenched. The attraction of foreign investment may be viewed as a key aspect of this approach to economic progress. The article concludes that foreign investors, while enjoying greater access under the new legislation, must still be prepared to operate in markets which remain dominated by SOEs. [ABSTRACT FROM AUTHOR]

In autumn 2023, the Lauterpacht Centre for International Law at the University of Cambridge ('LCIL') hosted a seminar on 'International Investment Law and Arbitration in the Renewable Energy Sector – Quo Vadis?'. The main objective was to identify and discuss challenges faced by international investment law and arbitration in the renewable energy sector by, among others, studying historical patterns in this area and analysing the impact of relevant arbitral awards on future proceedings. The debate included issues relating to the viability of the Energy Charter Treaty ('ECT'), the impact of sustainable development goals ('SDGs') on international investment law, the relevance for the sector of the European Union's ('EU') investment agreements and, finally, renewable energy disputes and the World Trade Organization ('WTO'). [ABSTRACT FROM AUTHOR]

The article explores the current system of international investment law and dispute resolution focusing on their asymmetric nature and calls for rebalancing. Topics include the prisoner's dilemma in international investment law, the reason for sovereign states' defection in setting regulatory standards for foreign investors after signing an investment treaty and the key aspects of reforms of international investment law such as reforms at the United Nations Conference on Trade and Development.

This article summarises how the Spanish foreign-direct-investment framework has changed, specifically, the screening mechanisms for specific investments. [ABSTRACT FROM AUTHOR]

Foreign investment can increase economic growth and create prosperity in a country. However, sometimes foreign investment can increase economic growth and fail to create prosperity. This problem is of course related to the laws governing foreign investment. This article wants to discuss the regulations in law regarding the role of foreign investments in increasing economic growth and creating prosperity in Indonesia. Regulations in Indonesian law and experience show that foreign investment is widely open to enter Indonesia so it is felt to be able to encourage economic growth. However, Indonesia's experience in practice shows that things often happen that cause some people to suffer because of the presence of foreign investment. From the results of the research and discussion, it can be concluded that the regulations in the foreign investment law in Indonesia still prioritize economic growth, while the aspect of achieving people's welfare from the presence of foreign investment receives less attention. Therefore, it would be better if the investment laws were revised to create a balance between economic growth and prosperity. In other words, investment laws must be able to encourage economic growth and create prosperity simultaneously. There must be a balance between growth and prosperity. [ABSTRACT FROM AUTHOR]

The article examines the 2020 Investment Law in Vietnam through qualitative and quantitative research methods. It assesses various aspects of the law, such as investment procedures, transparency, prohibited sectors, and the use of technology. The findings indicate that the new provisions of the law are highly regarded and emphasize its role in enhancing the investment and business environment in Vietnam and promoting economic development. The law introduces several changes, including restrictions on certain businesses, incentives for investment, and regulations for foreign investors. Surveys and interviews with experts show that the law has had a positive impact on business activities and foreign direct investment in Vietnam, although further research is needed to fully understand its effects. [Extracted from the article]

This paper critically examines China's national security review regime of foreign investment and compares it with that of the United States. Over the years, China has gradually established a comprehensive legal framework for national security review of foreign investment. Recent efforts were made to refine the public enforcement mechanism of the review in tandem with a new "pre-establishment national treatment plus negative list" system under the 2020 Foreign Investment Law. The United States also enacted the Foreign Investment Risk Review Modernization Act of 2018 to enhance its national security review regime. By analyzing the law and practices of China and the United States, this paper finds that the national security review regimes of the two jurisdictions have functional convergences despite some formal divergences caused by diverse political-economy landscapes. Their functional convergences are highlighted by China's local practices, such as the de-facto national security screening in the name of anti-monopoly review. There are many factors affecting China's national security review regime for foreign investment, including the ongoing (and escalating) US-China competition (or conflict) at the international level and the evolution of state or party capitalism at the domestic level. These research findings will not only contribute to the existing comparative law scholarship but also benefit multinational enterprises that seek to enter Chinese and the US markets. [ABSTRACT FROM AUTHOR]

Despite previous studies investigating the impacts of various factors such as peace years, natural resources, and the rule of law on foreign direct investment (FDI), empirical findings remain inconclusive. Therefore, this study investigates the interplay between these factors in shaping host country conditions that facilitate FDI inflows. Using generalized additive models, we examine the simultaneous effects of peace years, oil wealth, and the rule of law on FDI inflows in a sample of non‐OECD countries from 1970 to 2009. Our results reveal that established peace is a critical factor in attracting FDI inflows for both oil‐exporting and non‐oil‐exporting countries. However, the effects of the rule of law vary depending on oil wealth. Oil‐exporting countries receive more FDI inflows when they have a weak rather than a strong rule of law, while non‐oil‐exporting countries tend to receive more foreign investments when they have a moderately strong rule of law. We argue that countries with oil wealth combined with a moderately weak rule of law provide an environment that is conducive to multinational corporations (MNCs) in extractive industries seeking monopoly rents. Conversely, countries without oil wealth should create stable yet efficient environments that protect property rights and promote labor market flexibility to appeal to non‐resource‐seeking MNCs. [ABSTRACT FROM AUTHOR]

A state is entitled to be bound by investment agreements, including expropriating alien property on its territory. In international law, both represent the state's sovereign principle within the boundaries of territorial integrity. Expropriation and the right to regulate are usually included in investment agreements as part of the substantive rules. This study uses a normative juridical approach. This approach is carried out by examining the library materials, which are secondary data; especially the principles and norms of law. While the aim of this research is to examine the legal aspects of several key concepts within the international investment law regime--the right to regulate and expropriation, both in terms of its regulation and implementation, in order to find best practices. Expropriation and the right to regulate are essentially like two sides of the same coin. This is because lawful expropriation implies state obligations (compensation), whereas unlawful expropriation implies state responsibilities (restitution or reparations). Meanwhile, the right to regulate (police powers), which is based on the concept of state sovereignty, does not. Lawful expropriation is defined as the state measures carried out with the due process of law, in a non-discriminatory manner, for the purpose of the public interest and is accompanied by the payment of compensation. In terms of expropriation, the right to regulate can be regarded as a form of lawful expropriation that does not necessitate compensation. [ABSTRACT FROM AUTHOR]

The article reports on an executive order issued by U.S. President Joe Biden that will restrict outbound investment in national security technologies and products.

The misapplication of vague international investment standards such as the Full Protection and Security has worsened the legitimacy crisis facing the Investor-State-Dispute-Settlement field. Such misapplication emanates from the fragmentation of international law in the investment arbitration field, the absence of stare decisis, and the lack of a unified interpretive methodology connecting relevant subfields of international law in investment arbitration. For the first time, this article establishes a doctrinal framework based on multiple international treaties to reconnect international investment law with human rights and international humanitarian law in the application of the Full Protection and Security due diligence standard. Further, it develops a unified interpretive methodology that is grounded in that doctrinal framework. The adoption of this research's suggested interpretive methodology is expected to have wide-ranging positive implications on the Investor-State-Dispute-Settlement practice. First, it shall lead to a doctrinally proper application of the Full Protection and Security investment obligation's due diligence standard. Second, it shall promote the respect of international human rights law in the Investor-State-Dispute-Settlement field. Finally, it shall resolve most aspects of the current Investor-State-Dispute-Settlement worldwide legitimacy crisis. [ABSTRACT FROM AUTHOR]

Copyright of Journal of International Business Studies is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

By establishing an investment project or undertaking abroad, a multinational corporation does not only create a relationship between itself and the host state, but also with its local communities, which are often adversely impacted by the conduct or business operations of the investor. Yet the international investment law system has been lopsided. It creates various substantive and procedural protections for investors that they may enforce against the host state in international arbitration. But generally neither the host state nor its local communities adversely impacted by the conduct or business operations of an investor have similar rights. This article examines balanced investment treaties, one of the measures states have recently begun to adopt to remedy the unequal investment law regime. It concludes that, while this new generation of treaties may level the playing field between investors and host states, they do not go far enough to effectively address the peculiar challenges of local communities that suffer investment-related harms. [ABSTRACT FROM AUTHOR]

In the context of ongoing debates concerning the reform of the investor-State dispute settlement (ISDS) mechanism, this article critiques the widely-accepted approach that seeks to fit international human rights law (IHRL) into the existing structure of ISDS and argues that IHRL should at least be treated as 'primus inter pares' vis-à-vis international investment law. Testing ISDS on the touchstone of the human rights to equality, non-discrimination, and an effective remedy, the authors demonstrate that ISDS is incompatible with IHRL. Considering various structural and systemic problems, abolishing ISDS is perhaps the only normatively sound solution to address this incompatibility with IHRL. However, as this may not be politically feasible in the near future, this article articulates eight principles for a human-rights compatible international dispute settlement mechanism. We argue that these principles should inform the current efforts to reform the ISDS mechanism to avoid the risk of making only cosmetic changes. [ABSTRACT FROM AUTHOR]

This article examines the recent reformation of the foreign investment regulatory environment that was introduced by the Foreign Capital Investment Law of Oman (Royal Decree No. 51/2019) and its Executive Regulation (Ministerial Decision No. 72/2020) with the aim of boosting foreign direct investment (FDI) in Oman. This examination focuses on the texts of the current Foreign Capital Investment Law and its Executive Regulation and analyses the provisions that, in the author's view, will have a direct impact on the foreign investment sector in Oman. Furthermore, these provisions are contrasted with their counterparts in the former Foreign Capital Investment Law (Royal Decree No. 102/1994) to highlight their strengths and weaknesses. Based on this analysis, the article proposes a set of recommendations to address a number of issues with the current foreign investment regulatory framework with the aim of achieving regulatory clarity and enhancement concerning the framework's scope of application. [ABSTRACT FROM AUTHOR]

In my classes in China, students have pointed to the fact the U.S. maintains hundreds of military bases globally (and indeed many in close proximity to China). Finally, Chinese regulators and policy leaders might wish to contemplate the insights and recommendations offered by Professor Shen to enhance the prospect of encouraging foreign investment while safeguarding China's national interests. 1. Under view is: SHEN Wei, I China's Foreign Investment Law in the New Normal i , Routledge, 2023. Professor Shen points out that development of security review in China has been an arduous process despite China having opened up decades ago. [Extracted from the article]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

China has adopted a unique approach that combines foreign investment law and anti-monopoly law to protect national security in merger transactions. As a legal tool at China’s disposal, anti-monopoly merger control has actively contributed in its first decade of enforcement to addressing national security concerns arising from overseas mergers, including pseudo-overseas and actual overseas mergers. In pseudo-overseas mergers, such as in the well-known Coca Cola’s prohibited acquisition of the Chinese juice maker Huiyuan and the conditionally approved acquisition of the Chinese online supermarket Yihaodian by Wal-Mart, anti-monopoly merger control has interacted with China’s foreign investment law and served as its supplementary tool in the task of protecting national security. Beyond this interaction with foreign investment law, anti-monopoly merger control has served as the sole line of defence for national security (particularly the import security of supplies) in actual overseas mergers, such as in the resource merger between two Swiss-based enterprises; Glencore and Xstrata. Such connection between national security and anti-monopoly merger control has been less discussed so far but gains increasing importance in today’s international economic climate. It is argued that anti-monopoly merger control has been an indispensable part of China’s national security protection framework, with four characteristics that make it a suitable tool for national security purposes, including its extraterritorial reach, flexible substantive competition assessments, tailored merger remedies and the institutional link upon the dual responsibilities of China’s Ministry of Commerce. China’s combined approach ensures national security protection, but the anti-monopoly law’s intended values in protecting competition and promoting economic efficiency are thereunder distracted and undermined. Although this combined approach is likely to continue to be used in the near future, a possible alternative - namely, to restructure China’s national security review regime to apply in a nationality-neutral manner - could be a long-term fundamental solution. [ABSTRACT FROM AUTHOR]

This article argues that legal certainty provides the most compelling justification for recognizing legitimate expectations in international investment law, and that the prohibition on arbitrary conduct provides the most persuasive reason for their protection. After considering other rationales for recognizing legitimate expectations, the article analyses the types of government action typically arising in investment cases through the lens of legal certainty, arguing that the strength of the claim for recognizing legitimate expectations depends on the government conduct at issue, with interference with legal rights or formal decisions generating the strongest claim for recognition, and changes to laws generating the weakest claim. The article discusses the prohibition on arbitrary conduct as the relevant touchstone for protecting legitimate expectations, demonstrates that this interpretation accords with recent treaty innovations, and explains how the expected degree of legal certainty correlates with the risk of arbitrariness in relation to different types of government conduct. [ABSTRACT FROM AUTHOR]

The ambiguity of key terms in investment treaties, such as 'investment', 'fair and equitable treatment' and 'fair market value', has been subject to extensive analysis. Less attention has been paid to the silence of investment treaties on numerous issues that routinely arise in practice. This article argues that treaty silence has played a critical role in the development of international investment law. It shows that arbitrators frequently adopt a creative approach to silence resulting in expansive interpretations, and argues that this approach stands in tension with several fundamental principles of public international law. The article concludes by highlighting considerations drawn from its analysis for arbitrators, treaty drafters and the international legal order. [ABSTRACT FROM AUTHOR]

Vietnamese Law on foreign investment contains all provisions related to foreign investment in Vietnam and investment from Vietnamese businesses abroad. Although the Vietnamese policies on foreign investment have been regularly amended and supplemented, some inadequacies affect the attractiveness of Vietnam as a foreign investment destination. These inadequacies are in the 2020 Law on Investment provisions, the 2012 Law on Cooperatives, Decree No. 01/2021/ND-CP on business registration compared with the 2020 Law on Enterprises, and the Civil Procedure 2015. Specifically, according to current provisions, foreign investors cannot establish sole proprietorships and business households in Vietnam. If the investor is a non-resident individual in Vietnam or a foreign legal entity, they are not allowed to launch or become a member of a cooperative in Vietnam; regarding investment registration certificate when foreign investors show economic organizations in Vietnam; regarding dispute settlement mechanisms in investment activities of foreign investors in Vietnam, etc. Therefore, this article makes recommendations on amending and supplementing the above provisions. It contributes to promoting investment attraction policies and creating equality between foreign and Vietnamese investors in investment activities in Vietnam. [ABSTRACT FROM AUTHOR]

Based on Jean d'Aspremont's proposals according to which international law is a belief system, this research goes beyond to affirm that such beliefs are not unbiased, but they rather have a distinctly western origin, foundation and development. They are subsequently implanted in the Third World through law universalization campaigns. Departing from the contextualization of such international law implantation in Latin-America and followed by the depicting of some fundamental beliefs transmitted in the fields of international environmental law and international investment law in the region, this research concludes that both the universalization campaigns of those beliefs as well as their raising resistance, end up reinforcing the very beliefs. The foregoing only consolidates that a regional and private law continues to be considered as international and public. It also reiterates the need to promote an inclusive international law whose beliefs have a diverse origin, including that coming from the Third World. [ABSTRACT FROM AUTHOR]

This article intends to corroborate the argument advocated by heterodox economists such as Akyüz, Chang and Furtado that state regulation is crucial to extracting the possible benefits of foreign direct investment (FDI). We do so by analyzing the policies used by China since its opening to this type of investment in 1979. The article innovates by scrutinizing China's major FDI laws, regulations and guidelines that compose the formal framework under which foreign-owned enterprises have operated in the country for almost 40 years. We then address the traditional view that China developed simply because it increasingly opened its market to foreign investment and adopted a foreign investment-led growth model. We argue that it was because of this strong regulation that FDI had such a positive effect, contributing to technological transfer and trade expansion, although not defining the ratio of capital accumulation. [ABSTRACT FROM AUTHOR]

Domestic screening of foreign investment, often on national security grounds, has intensified in recent years. More countries are introducing such regimes, while others expand their scope or allow retrospective screening. These developments increase the potential for investor–State claims under international investment agreements, even sometimes regarding investments that are not yet established. Host States need to be aware of the potential for adverse screening decisions, the imposition of conditions, or due process shortcomings to conflict with investment obligations, such as fair and equitable treatment or most-favoured nation treatment. Although tools exist in some treaties to exclude or exempt investment screening, these may not prevent a successful investment claim. For example, listing a screening regime as a non-conforming measure may not cover all future amendments, and general and security exceptions are subject to considerable uncertainty. Host States need to ensure compliance with international investment law in creating and developing screening regimes. [ABSTRACT FROM AUTHOR]

This article reviews the manner in which two types of legislation in the Netherlands, namely laws on foreign direct investment and laws on network and information security, address the risks that arise from changes in control over companies in the cybernetwork. It also identifies the potential vulnerabilities of the existing regulatory framework, which are due to the failure to adopt a sufficiently ecosystemic approach. While the EU legislation on network and information security contains appropriate and proportionate risk-management measures that ensure the security of supply chains, the Union regulation of foreign-direct-investment screening instruments appears to neglect direct suppliers and service providers. [ABSTRACT FROM AUTHOR]

China's foreign investment law regime has experienced significant changes in recent years. A milestone came with the passing of the Foreign Investment Law (FIL) in 2019, replacing the laws and regulations that had governed foreign investment in China for four decades. This article first undertakes a political economic analysis to determine the relevance of internal and external factors contributing to the changes. It then discusses the key characteristics of the FIL and reveals how it is designed to create a liberal, stable, fair, transparent and accountable regime to promote and protect foreign investment. Although the passage of the FIL ushered in a new era of foreign investment in China, many important issues remain unresolved and further actions must be taken to ensure its smooth implementation. To support the sustained development of its foreign investment regime, China must address existing laws and regulations that are incompatible with the new regime, clarify key issues that the new law fails to address, issue clearer guidance on national security, shorten its 'negative list', promote opening up and enhance regulatory transparency. [ABSTRACT FROM AUTHOR]

The importance of mitigating climate change, upholding good social policies and good governance have led to the rise and use of environmental, social and governance (ESG) factors in the world of finance and investment. Banks, funds and other financial institutions have increasingly sought to measure whether the investments they make promote ESG. This will invariably permeate the world of foreign investment law, as States and claimants become increasingly aware of ESG and ESG-related concerns. This article seeks to consider how the ESG movement has impacted international investment law and arbitration, and how is it likely to do so going forward. [ABSTRACT FROM AUTHOR]

Copyright of External Economic Bulletin / Külgazdaság is the property of KOPINT Konjunktura Kutatasi Alapitvany and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Part I of the article provided an analytical review of the latest developments of domestic regulatory reform on foreign investments, the external pressures of the China-United States and China-European Union (EU) bilateral investment treaty (BIT) negotiations, the establishment of Free Trade Area of the Asia-Pacific and China's participation in the Regional Comprehensive Partnership. Part II will address how these developments promoted China to adopt a g·radual dual-tmck position for the legislative process of reforming foreign investment law. This Part will focus on how China used BIT negotiations to place pressure internally and improve domestic law to conform to global standards of investment liberalisation. With that in mind, this Part argues that China has achieved consensus over how investment liberalisation could be achieved in the legislative process of China's foreign investment law. This Part further argues that regarding sensitive areas such as the scope of market entry in the negative list, intellectual property, competitive neutrality, labour standards and environmental protection, the basis of legislative considemtions should be set scientifically and with due process, with considerations given to the external pressures of the investment liberalisation standards established by the EU and the United States. In all, this article concludes that the ideal approach of China's foreign investment liberalisation is to connect China's reality with the investment standards of the world, where the uniqueness of the Chinese characteristics of market governance are embraced but not overemphasised. [ABSTRACT FROM AUTHOR]

Thailand's first experience with investment treaty arbitration has not been a pleasant one. Nevertheless, it offers important lessons to States, foreign investors, and arbitral tribunals regarding their respective participation in the process of decision-making. First, States must be meticulous in concluding investment treaties while bearing in mind that their subsequent practice affects the way those treaties are interpreted and applied. Second, foreign investors' due diligence when making investments and their selection of a suitably qualified lawyer to represent them in arbitral proceedings will both affect the outcome of their case. Third, arbitral tribunals' understanding of international law is critical for the credibility of investment treaty arbitration and will contribute to its legitimacy—or lack thereof. In fulfilling their role, arbitral tribunals should consider economic realities within the confines of an applicable investment treaty. Furthermore, to determine their jurisdiction ratione materiae and jurisdiction ratione personae for non-ICSID arbitration, they should adopt the single keyhole approach, following the definition of 'investment' and 'investor' given by the parties as lex specialis and acting in accordance with the principle of procedural economy. [ABSTRACT FROM AUTHOR]

Sunset clauses in International Investment Agreements (IIAs) have recently become the subject of renewed attention after the European Commission and European Union (EU) Member States announced their intention to abrogate sunset clauses found in intra-EU IIAs as part of their plan to end existing intra-EU IIAs. Sunset clauses (or survival clauses) are provisions commonly found in IIAs that extend their application for a given period of time after their termination. This article reflects on the consequences of terminating IIAs and simultaneously depriving sunset clauses of their legal effects, and explores how investors could nonetheless attempt to bring disputes arising out of their investments before arbitral tribunals. [ABSTRACT FROM AUTHOR]

We show that a mid-2000s increase in extraterritorial enforcement of the U.S. Foreign Corrupt Practices Act (FCPA), characterized by greater international regulatory cooperation and more frequent use of the FCPA's accounting provisions, has a significant deterrent effect on foreign direct investment in high-corruption-risk countries. The decrease in investment is at least as large for non-U.S. as for U.S. firms, suggesting that widespread extraterritorial enforcement helps to create a level foreign investment playing field. Firms under U.S. jurisdiction with fundamental characteristics that make it more difficult to maintain effective internal controls invest less in high-corruption-risk countries after the FCPA enforcement increase, suggesting regulatory compliance costs play a role in deterring investment. Consistent with investments in accounting systems being one way, firms limit enforcement risk when investing in high-corruption-risk countries, firms pursuing new investments spend more time evaluating potential targets, and firms with existing investments report fewer restatements related to unintentional errors. JEL Classifications: F50; F60; K2; M4; O1. [ABSTRACT FROM AUTHOR]

The intractable problem which bedevils international investment law is the uncertain scope of a host state's power to enact regulations with respect to internal affairs without exposing itself to liability for any unintended expropriating effect on foreign investments. Host states' interests in protecting 'public health', 'safety' and 'environment' are accepted in most modern bilateral and multilateral international investment agreements ('HAs') as legitimate exceptional grounds for justifying regulatory measures that would otherwise constitute indirect expropriation. This list of exceptional grounds based on overarching public interest is not exhaustive. The protection of 'public morals' has been listed as another justifiable ground to indirect expropriation in a handful of recently concluded and draft IIAs, in parallel with the general exceptions practice under international trade law. This presents an obvious danger of further nebulous expansion of the justifications that states can assert to avoid liability for indirect expropriation. This is because the concept of public morals is abstract and can vary over time and across states and cultures. This article examines the feasibility of carving out the protection of 'public morals' as an exemption category for indirect expropriation and considers its use in investment arbitration. It is argued that the protection of public morals is a legitimate and feasible exemption category to include in new IIAs, provided that control mechanisms are in place in arbitral practice to avoid unconstrained regulatory actions that purportedly are in support of ever-varying and ever- widening moral 'crusades'. The proportionality principle is identified as a suitable control mechanism to shield foreign investors from impermissible morality-based protectionism. [ABSTRACT FROM AUTHOR]

Significant changes to Australia's foreign investment screening policy came into effect in 2021, modifying the Foreign Acquisitions and Takeovers Act 1975 (Cth). These changes establish a framework for national security reviews of proposed foreign investments in Australia, including the potential for review of investments that have already been lawfully admitted into the country. These developments increase the risk of conflict with international investment law, as reflected in Australia's obligations under more than thirty international investment agreements, in the form of bilateral investment treaties and preferential trade agreements with investment chapters or associated investment agreements. Traditionally, these agreements shielded Australia's foreign investment policy by restricting themselves to investments that had already been established in Australia. In more modern agreements, a range of reforms add explicit and implicit protections to Australia's foreign investment policy. However, the co-existence of traditional and modern approaches and the inconsistency with which reforms have been adopted across different treaties complicate the assessment of Australia's compliance with international investment law in its foreign investment screening policy. Potential remains for claims to be brought against Australia in this regard by home states or investors themselves. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

What role should concerns about distributive justice play in international investment law? This paper argues that answers to fundamental and contestable questions of social and global distributive justice are a necessary, if implicit, premise of international investment law. In particular, they shape our views on the purpose of investment law, and in turn determine the scope of authority that investment law can claim, and that states should accord it. The implausibility of achieving international consensus on these questions constitutes a substantial objection to the harmonization of investment law or the consistent operation of a multilateral investment court. [ABSTRACT FROM AUTHOR]

In absence of any global treaty, the bilateral investment treaties are playing an important role of regulating foreign investments in the host countries. According to the United Nations Conference on Trade and Development, 2361 bilateral investment treaties are in force and like other members of the World Trade Organization Bangladesh also signed bilateral investment treaties to facilitate trade. The primary purpose of economic globalization is the economic development of the developing and least-developed countries as well as to facilitate benefits of the home states. Bangladesh foreign investment laws and bilateral investment treaties mainly protects foreign investors, however, neither of them has any specific provision of protecting environment. The Bangladesh Environment Conservation Act 2010 only requires foreign investors to obtain a clearance certificate before establishing any industry but significantly lacks any provision to impose liability for environmental damages. This paper addresses two questions: (a) do the bilateral investment treaties of Bangladesh and Netherlands allow the host state to take measures to protect the environment? (b) should the environmental protection be considered during the entry of foreign direct investment in Bangladesh and Netherlands? Using doctrinal research method, the authors critically analyzed 27 bilateral investment treaties to explore whether there is any reference of protecting environment in both countries. The authors find that the existing Bangladesh and Netherlands bilateral investment treaties have provisions to promote and protect foreign investments but have no reference (except Bangladesh-Turkey BIT, Bangladesh-UAE BIT, Netherlands-U.A.E. BIT and Netherlands-India BIT) of protecting environment. Therefore, the authors recommend both governments to consider this important factor while signing any future bilateral investment treaties. [ABSTRACT FROM AUTHOR]

This article presents an overview of Brazil's insolvency system, briefly addressing past and current legislation, as well as focusing on some of the changes and modernisations brought by the recent reform of Brazil's Bankruptcy Law. It concentrates on the sale of assets of companies underg oing judicial reorganisation and aims to outline the impact of the new law not only in the case of judicial reorganisation but also the economic impact of eliminating succession upon the acquisition of distressed assets, and how this translates into an attractive foreign investment. [ABSTRACT FROM AUTHOR]

The absence of laws regulating import and export and the apparent weakness in the control of imported goods will contribute to the emergence of the phenomenon of dumping in it, which will negatively affect investments in the countries where dumping is practiced, as it becomes an unsuitable environment for investment due to the lack of protection for local and foreign capital, and as what happened in Iraq after 2003, the doors of the borders were opened wide for the entry of various types of goods and products from different countries of the world into the Iraqi market because this market is characterized by a great thirst for goods and products as a result of the economic blockade that lasted for more than twelve years, as this policy was unplanned the significant impact on the Iraqi economy in its multiple aspects, as it contributed to the decline of the industrial sector due to the inequality between local and imported goods, in addition to that, the decline of the agricultural sector, and thus investment became not possible in the absence of control and restrictions on imported goods and in light of administrative corruption and security instability All of this negatively affected investment in Iraq, especially after the market was flooded with a huge amount of poor and low-priced imported goods, and what resulted in these factors are an increase in unemployment rates, which are increasing year after year. [ABSTRACT FROM AUTHOR]