As the author explains in the foreword, this book intends to explore the principles, policies and practice in international investment law across the world and to foster greater study interests of students in the field. Unlike other textbooks that focus solely on investment protection in international law, this book brings an under-explored perspective from developing countries, in particular from Nigeria.
International Centre for Settlement of Investment Disputes
The book (International Investment Law: National, Regional and Global Perspectives) examines the principles and practices of international investment law in the light of international law. The book is situated within the prevailing dynamics of international investment law and policy that are underpinned by competing interests of the host States and foreign investors.
South Sudan - Africa’s latest independent country – is facing its second ICSID claim brought by Qatar National Bank, a Qatari State-owned entity (“SOE”). It was reported that the dispute is related to default by the BSS (which is the Central Bank of South Sudan) on the payment of a US$ 700 million loan it borrowed during the civil war.
Egypt is facing its second dispute related to its water management sector. The claimant - Gesenu SPA (where the municipality of Perugia, owns 45% of the shares) filed a request for arbitration on 30 October 2020. The Claimant invoked the 1989 Egypt-Italy Bilateral Investment Treaty, one of the 115 BITs signed by Egypt. The Egypt-Italy BIT instrument was notably invoked twice in the ASA and Waghui ICSID cases.
The main goal of the international HRWS is to prioritise universal access to safe, affordable, accessible, adequate water and sanitation, including hygiene services. The human rights framework also has procedural requirements to ensure non-discrimination, public participation, transparency and accountability and the extraterritorial obligation to do no harm in the governance of WASH services. Water is understood as having diverse characteristics being simultaneously an economic, social, cultural, political and ecological good. This multiplicity of framings complicates the localization and mainstreaming of the HRWS in relevant institutions at various levels of governance, from the international to the local.
The conclusion of the AfCFTA comes in the wake of global trade facing a lot of uncertainty, with more countries becoming more protectionist and the global world trade order facing collapse due to rising tensions. Despite all this, Africa’s regional integration agenda remains at the core. The Protocol on Investments is meant to be continental wide project to protect and promote investments in Africa. The ultimate goal for the AU’s regional integration objectives should be to have one investment framework to regulate the whole continent.
Reforming domestic law is critical to ensuring countries capture the benefits of their natural resources wealth. In addition, it is increasingly being recognized in investment treaty reform processes as well as in investor-state dispute settlement proceedings that investor compliance with domestic law is a prerequisite to entertaining investor claims against states.