Some Legal Aspects of Foreign Investment in Developing Countries with Particular Reference to the Situation in Algeria PDF Download

Author: Fawzi Naimi
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Sinisa Petrovic
Publisher: Independently Published
ISBN: 9781797447872
Category : Law
Languages : en
Pages : 180

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In the world as globalized as it is nowadays, it is almost impossible to imagine an economy without foreign investments. A country's attitude towards foreign investment greatly differ; some have a more open-minded legislation and it really makes no difference whether an investment is domestic or from another country, while some countries tend to be more cautious and still perceive foreign investments as uncommon and treat them as an exception. Be it as it may for any reason, one basically cannot argue that foreign investments are an important economic factor. The content of this book is the result of the authors' professional experience from various capacities in which they dealt with foreign investments. The book is not intended to present an absolutely comprehensive research of all legal aspects of foreign investments; rather, it gives a general review of, in the authors' view, most important issues which either an investor or a host country may encounter. The purpose was to give a sort of checklist of these issues and to refer to legal sources, which help to find more detailed and profound answers to various problems that derive from foreign investments.The intent of the authors was that the book can be used as a kind of textbook for introductory classes at law faculties, but also as a guide to legal practitioners and businesses. Even though most of the issues are notably important for investments in developing countries, we dare to say that many of them may be equally essential for any investment in any country, irrespective of its level of economic and legal development.

Author: E. I. Nwogugu
Publisher: Manchester University Press
ISBN:
Category : Developing countries
Languages : en
Pages : 358

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Author: Nicholas Olwor
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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In the past two decades, there have been significant changes in national and international policies of foreign direct investment (FDI). These changes have been both cause and effect in the ongoing integration of the world economy and the changing role of FDI in it. They have found expression in national laws and practices and in a variety of international instruments which includes bilateral, regional and multilateral. Traditionally, African States have played an active and relevant role in the formulation and development of international investment law. Generally, the contribution of these states is demonstrated through active participation in deliberations of the Non-Aligned Movement, the role of African States in the creation of specialized institutions such as UCTAD and the strategic use of numerical strength to sponsor numerous United Nations Resolutions. During the epitome of Africa's active participation, African States aggressively resisted the internationalization of foreign investment rules. However, the practice of African States appears to have changed through the conclusion of BITs containing far-reaching treaty provisions.While in earlier times indirect foreign investment was far more important than direct one, FDI acquired increasing importance as the twentieth century advanced, and it began gradually to assume the forms prevalent today. In international legal terms, however, FDI long remained a matter mainly of national concern, moving onto the international plane, where rules and principles of customary international law applied, only in exceptional cases, when arbitrary government measures affected it.After the Second World War, attitudes towards FDI and policies and conditions in host countries were shaped by the prevalence of political support for state control over the economy and the beginning of decolonialization. Socialist countries for a longtime excluded FDI from their territories, while developing countries endeavored to regain control of their natural resources from foreign interests. At the same time, controls and restrictions over entry and operations of foreign firms were imposed in many countries, with a view to excluding FDI from certain industries for the benefit of domestic investors or the State, determining the specific terms under which investments were to be made, and ensuring the participation of local nationals in major industries. No international consensus on the pertinent legal norms could be reached at the time.In the 1980s, a series of national and international developments radically reversed the policy trends prevailing then, with an immediate impact both on national policies regarding inward FDI and on regional and worldwide efforts at establishing international rules on the subject. Now at the end of the 1990s, host countries are seeking to attract FDI, by dismantling restrictions on its entry and operations and by offering strict guarantees, both national and international, against measures seriously damaging the investors' interests. The tone and direction of international legal discourse has significantly changed. Debate among policy makers is now centered on the most efficient ways of attracting FDI and deriving benefits from it rather than on questions of jurisdiction.An international legal framework for FDI has begun to emerge. It consists of many kinds of national and international rules and principles, of diverse form and origin, differing in strength and degree of specificity. The entire structure rests on the twin foundations of customary international law and national laws and regulations and relies for its substance on a multitude of international investment agreements (IIAs) and other legal instruments.An extensive network of bilateral investment promotion and protection treaties has come into existence. They are highly standardized, yet they appear to be capable of adapting to special circumstances. Their principal focus has been from the very start on the protection of investments against nationalizations or expropriations and on free transfer of funds, although they also cover a number of other areas. Regional and plurilateral international arrangements, while binding on a limited number of countries in each case, are increasingly important in matters of FDI. They help to change pre-existing structures of law and policy and create important habits and patterns of expectations on a broader transnational level. Economic integration agreements are a significant subcategory of regional instruments, whose importance has grown in recent years. At the multilateral level, there is no comprehensive instrument on the subject, although a number of recent multilateral instruments of less comprehensive scope are directly relevant, dealing with particular aspects of the FDI process.Legal rules of other kinds, of varying normative intensity and general applicability are also relevant. Soft law texts, adopted by States or international organizations on a non-binding basis, are important elements of the framework. Corporate codes of conduct and other texts of private origin help to formulate widely accepted prescriptions. Traditional arbitration not only provides useful procedures for dispute settlement but also, through the corpus of its awards, gradually fills in the normative conceptual framework for FDI issues.In terms of substance, the provisions of IIAs must be perceived in their constant interaction with national policies and measures. They concern two principal types of issues. A first class of provisions is linked to the process of liberalization, which, in its application to FDI, involves the gradual decrease or elimination of measures and restrictions on the entry and operations of firms, especially foreign ones; the application of positive standards of treatment with a view to the elimination of discrimination against foreign enterprises; and implementation of measures and policies seeking to promote the operation of markets. A second category of issues covers provisions that concern the protection of foreign investments already made against government measures damaging to them. As to both types of issues, it is important to consider the provisions and approaches which import into the operation of IIAs the flexibility necessary for enhancing the development of the host countries concerned.The past decades witnessed an increasingly rapid escalation towards globalization in the world economy. In spite of the tremendous growth of FDI flows and the ambitious expansion of MNEs, no single comprehensive set of multilateral rules has been reached governing the issue of FDI. Developing countries have generally resisted the adoption of a multilateral treaty protecting and encouraging FDI, while industrialized nations, on the other hand, have felt a great need for such an agreement, seeking to establish high standards of liberalization for global investment movements. An international legal framework for FDI has begun to emerge in recent times, which is actually in response to the current uncertainty of the customary international law. It includes, inter alia, national statutory regimes, and international rules and principles established at bilateral, regional and multilateral level. The BITs have played an important role in this process, and the rapid proliferation of these treaties signifies their importance as the potential foundation upon which a future multilateral agreement can be built. Two recent developments have further brought the issue to the fore of the international community: first, the embodiment of a set of investment related rules in the multilateral trading system, and second, the initiative of the OECD to promote an MAI. While the TRIMS Agreement was rather conservative in scope, applying merely to investment measures that have distorting effects on trade in goods, the negotiations on MAI appeared to be far more ambitious. However, the fundamental premise upon which the MAI has been built is considerably flawed and one-sided, which has indeed resulted in its abortion. From the perspective of developing countries, the most significant issue at point is precisely how a multilateral framework can be formulated in such a flexible manner that they could remain sufficient margin of autonomy to benefit from the inward FDI, and thereby pursue their own economic development objectives.

Author: Giorgio Sacerdoti
Publisher:
ISBN:
Category :
Languages : en
Pages : 9

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The subject matter of this paper is a central issue of growing concern in the area of legal regulation of international investments, namely how to ensure through treaty making and treaty application that the promotion and protection of foreign (direct) investment be beneficial for the recipient host countries, especially developing countries, and indeed does not hamper their development efforts.Seen form the point of view of those in charge of promoting development in “developing” host countries - the other side of the coin - the issue is how to ensure that those instruments effectively promote the contribution of foreign investment to the development goals of the recipient countries.My exposé and analysis is a legal one: it is beyond my scope to address the economic policy issues concerning specific economic instruments (such as financial or tax incentive) that in a given situation or in respect to a given country may stimulate the flow of FDI in general or specifically according to certain policy choices. Thus, in order to promote investment in preferred sectors (such as mining or manufacturing), in certain part of the territory of that country, or in certain forms (such as joint-ventures), while possibly discouraging or prohibiting FDI which does not conform with those choices. Institutions such as UNCTAD and the World Bank have done great work in this area, studying the implication of such policies, which goes beyond my qualification.The time of a “one-size-fit-all” approach to drafting and concluding BITs seems to be by-gone, although not fully. This makes the issue set forth by the IISD more pressing, since more detailed investment agreements call for a more attentive “custom-made” approach to their drafting so to reflect better any development policy of the parties and in any case their right to structure such policies in the future. On the other hand the ability of policy makers to structure the normative framework for foreign investment so as to ensure its contribution to the attainment of a certain economic and social development objectives requires an approach that goes well beyond the legal sphere.The next issue is to define the terms of the relationship: “sustainable development” on one side and “investment agreements” and the protection they afford to foreign investors on the other hand.

Author: Robert Pritchard
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 298

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Full Title: Economic Development, Foreign Investment and the Law Promoting Economic Development through Private Sector Involvement, Foreign Investment and the Rule of Law This new publication was inspired by the desire to commemorate the 25th Anniversary of the founding of the Section on Business Law of the International Bar Association. Practising lawyers from all over the world have contributed to this book with their knowledge and expertise. The issues involved in the economic development process have been pursued with a practical approach. Bearing in mind that the legal system of each country is unique, that many countries are currently undergoing major programmes of legal reform, and that most development issues are country-specific, this study does not make any claim to comprehensiveness or coherency of treatment. If the book helps to accelerate reform efforts, it will have achieved a useful purpose. It is hoped that it will serve as a source of practical information for a wide range of people interested in the legal aspects of development and investment issues, including the special issues associated with the use of foreign capital.

Author:
Publisher: Indonesia National Development Information Office
ISBN:
Category : Capital investments
Languages : en
Pages : 64

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Author: István Szászy
Publisher:
ISBN:
Category : Conflict of laws
Languages : en
Pages : 25

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Author: Rumiko Kobayashi
Publisher:
ISBN:
Category : Investments, Foreign (International law)
Languages : en
Pages :

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Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158

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"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.