Foreign Direct Investment (FDI) is a category of investment that reflects the objective of establishing a lasting interest by a resident enterprise in one economy in an enterprise that is resident in an economy other than that of the direct investor. The lasting interest implies the existence of a long-term relationship between the direct investor and the direct investment enterprise and a significant degree of influence on the management of the enterprise. The direct or indirect ownership of 10% or more of the voting power of an enterprise resident in one economy by an investor resident in another economy is evidence of such a relationship.
The International Centre for Settlement of Investment Disputes (ICSID) is an autonomous international institution established under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. The primary purpose of ICSID is to provide facilities for conciliation and arbitration of international investment disputes. The ICSID Convention is a multilateral treaty formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank). It was opened for signature on March 18, 1965 and entered into force on October 14, 1966. Today, ICSID is considered to be the leading international arbitration institution devoted to investor-State dispute settlement.
This Research Guide is intended as a starting point for research in the field of Foreign Direct Investment (FDI). It provides the basic legal materials available in the Peace Palace Library, both in print and electronic format. Handbooks, leading articles, bibliographies, periodicals, serial publications and documents of interest are presented in the Selective Bibliography section. Links to the PPL Catalogue are inserted. The Library’s classification index code 9i. Capital, Exchange, Credit, Banking, Money, Currency, etc. and subject heading (keyword) Foreign Direct Investment are instrumental for searching through the Catalogue. Special attention is given to our subscriptions on databases, e-journals, e-books and other electronic resources. Finally, this Research Guide features links to relevant websites and other online resources of particular interest.
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International investments are governed by three different legal frameworks: 1) national laws of both the host country and the investor’s home country; 2) contracts, whether between the investor and the host country or among investors and their associates; and 3) international law, consisting of applicable treaties, customs, and general principles of law. Together, these three frameworks profoundly influence the organization, operation, and protection of foreign investments. Investors, government officials, and their legal counsel must therefore understand the complex interaction among these frameworks and how best to employ them to advance their interests.
This book examines the content of each of these three legal frameworks for international investment and explores how they influence the foreign investment process and the nature of investment transactions, projects, and enterprises
Sovereign Investment: Concerns and Policy Reactions provides the first major holistic examination and interdisciplinary analysis of sovereign wealth funds. Sovereign wealth funds currently hold three trillion dollars’ worth of investments, almost twice the amount in all the hedge funds worldwide, and are predicted to hold nine trillion more by 2015. This relatively new and rapidly expanding phenomenon remains relatively unregulated, but the International Monetary Fund and the G7 aim to establish temporary and voluntary rules to introduce transparency and uniformity until more permanent regulatory structures are instituted. What permanent rules and procedures should govern sovereign wealth funds? What bodies should enforce them? Do the current provisional rules answer the national security concerns of host countries?
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Avec la transnationalisation des entreprises et l’organisation de la production en réseaux mondiaux, les investissements directs sont l’une des facettes les plus visibles de la mondialisation. S’il n’existe pas de modèle uniforme de mondialisation, il n’existe pas non plus de modèle uniforme d’arbitrage des politiques et des règles de l’investissement. L’échec de l’AMI et la mise à l’écart de l’investissement des négociations commerciales multilatérales ont montré à quel point le thème était sensible, pour beaucoup de pays, en développement ou développés. Mêmes les États les plus favorables à la protection de l’investissement sont, aujourd’hui, devenus plus réservés quant à son étendue. D’un autre côté, les traités et accords bilatéraux prolifèrent, y compris d’ailleurs entre pays en développement, indiquant la nécessité d’avoir des règles générales non seulement pour réduire l’arbitraire et augmenter la transparence sur les marchés, mais aussi pour établir des obligations communes s’adressant aux États comme aux entreprises. Entre protection de l’investissement et défense d’autonomie, entre liberté économique et régulation des marchés, entre droits et devoirs économiques des entreprises, les États sont, donc, ici également, à la recherche de compromis.
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This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment (FDI) and considers how this affects the ability of capital-importing countries to pursue their development goals. The hope of countries signing such treaties is that foreign capital will accelerate transfers of technologies, create employment, and benefit the local economy through various types of linkages. But do international investment agreements in fact succeed in attracting foreign direct investment? And if so, are the sovereignty costs involved worth paying? In particular, are these costs such that they risk undermining the very purpose of attracting investors, which is to promote human development in the host country?
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Créé le 18 mars 1965 par la Convention de Washington, le Centre international de règlement des différends relatifs aux investissements entre Etats et ressortissants d’autres Etats (CIRDI) a fêté ses 45 ans le 18 mars 2010. Depuis sa création, l’évolution du CIRDI a connu plusieurs séquences : la première est caractérisée par un sous- fonctionnement en raison de la faiblesse du nombre de litiges qui lui étaient soumis. La deuxième a connu un sur-fonctionnement voire une surchauffe par l’explosion des litiges d’investissement et les possibilités offertes par l’insertion d’une clause CIRDI dans les accords d’investissement ou de libre échange, conclus entre les Etats. Sur le plan substantiel la « jurisprudence » du CIRDI n’a pas connu la cohérence souhaitée. Plusieurs observateurs y déplorent un véritable désordre jurisprudentiel. L’ambition de ce colloque qui réunit quelques uns des meilleurs spécialistes de la matière, est de tenter ce bilan et de voir si le CIRDI a été capable de bien gérer la multiplication exponentielle des litiges dans une perspective de bonne gouvernance et d’une gestion efficace des litiges en matière d’investissements privés étrangers.
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Also available as Fulltext e-book inside Peace Palace Library
In the field of investment treaty arbitration, the co-existence of contracts and treaties has generated an increasingly divided jurisprudence on central aspects of treaty interpretation. This book comprehensively examines the legal problems surrounding the relationship of these two instruments.
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The rise of investment arbitration in the last decade has generated an unprecedented body of arbitral case law. The work of these arbitral tribunals has provided scholars and practitioners with public international law jurisprudence, including materials on treaty interpretation which has not yet been thoroughly analysed. This book evaluates the contribution of investment arbitration treaty interpretation jurisprudence to international law, covering all key aspects of treaty interpretation. Included in the book’s coverage are awards which feature in prominent discussions or in applications of treaty interpretation rules. Among the significant portion of arbitral awards analysed, which deal with investment treaties, are ICSID awards, ad hoc investment arbitration awards, NAFTA awards, and Energy Charter Treaty awards. The extensive analysis of investment arbitration awards and decisions has also been used to create a table highlighting both the references to principles of treaty interpretation and instances in which they were rejected. This invaluable insight into the practice of investment tribunals will be of interest to both practitioners and academics alike.
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View this title in our link resolver PlinkletOn 16 January 2012, the P.R.I.M.E. Finance Foundation has started its activities with an opening conference followed by seminars on Dispute Resolution in the Financial Markets in the Peace Palace in The Hague.
The Foundation oversees the activities of its Panel of Recognized International Market Experts in Finance (P.R.I.M.E. Finance), chosen for their relevant experience in financial market practice or [...]
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Voss, J.O., The Impact of Investment Treaties on Contracts between Host States and Foreign Investors, Leiden, Nijhoff, 2011.
Schmitt, R., Die Kompetenzen der Europäischen Union für ausländische Investitionen in und aus Drittstaaten, München, Herbert Utz Verlag, 2012.
Sauvant, K.P., L.E. Sachs and W.P.F. Schmit Jongbloed (eds.) Sovereign Investment: Concerns and Policy Reactions, New York, NY, Oxford University Press, 2012.
Shan, W. (ed.), The legal protection of foreign investment : a comparative study, Oxford, Hart, 2012.
Weeramantry, J.R., Treaty Interpretation in Investment Arbitration, Oxford, Oxford University Press, 2012.
Arès, M. et Éric Boulanger (dir.), L'investissement et la nouvelle économie: trajectoires nationales, réseaux mondiaux et normes internationales, Bruxelles, Bruylant, 2013.
