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Internationalization of Foreign Investment Agreements

Internationalization of Foreign Investment Agreements Recently there seems to be a trend to provide expressly the law of the host State as the proper law or applicable law in an international investment agreement' between a host State or a State enterprise, on the one hand, and a foreign investor or a multinational corporation, on the other.2 Such a tendency with the Third-World developing countries seems to be increasingly acute as a reflection of the menace of often idiosyncratic arbitral approaches to the choice-of-law issue.3 Many developed countries are also often found to insist on the application of their own national law to natural resource development agreements.4 From their vantage point-that performance of such international contracts takes place in the territory of the host State-the host States consider themselves well placed to assume that this allows them to insist that the application of their own law is desirable and practical in day-to-day operations. The law of a State may sometimes mandatorily require it to contract by reference to its own national law.5 The exclusive role of such chosen host-State law has been beclouded by the extremely controversial theory of internationalization of international or foreign investment agreements or economic development agreements (EDAS). Thus, obviously in http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Internationalization of Foreign Investment Agreements

Journal of World Investment and Trade , Volume 1 (2): 28 – Jan 1, 2000

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190000X00104
Publisher site
See Article on Publisher Site

Abstract

Recently there seems to be a trend to provide expressly the law of the host State as the proper law or applicable law in an international investment agreement' between a host State or a State enterprise, on the one hand, and a foreign investor or a multinational corporation, on the other.2 Such a tendency with the Third-World developing countries seems to be increasingly acute as a reflection of the menace of often idiosyncratic arbitral approaches to the choice-of-law issue.3 Many developed countries are also often found to insist on the application of their own national law to natural resource development agreements.4 From their vantage point-that performance of such international contracts takes place in the territory of the host State-the host States consider themselves well placed to assume that this allows them to insist that the application of their own law is desirable and practical in day-to-day operations. The law of a State may sometimes mandatorily require it to contract by reference to its own national law.5 The exclusive role of such chosen host-State law has been beclouded by the extremely controversial theory of internationalization of international or foreign investment agreements or economic development agreements (EDAS). Thus, obviously in

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2000

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