Document Type : Scientific research
Authors
1 Department of Law, Faculty of Law and Economics, Khomeinishahr Branch, Islamic Azad University, Isfahan. Iran
2 Department of Law, Najafabad Branch, Islamic Azad University, Isfahan, Iran
Abstract
The ICSID Convention in the settlement of investment disputes for several reasons does not provide a definition of investment contracts, which has caused the judicial procedure in many international investment arbitration cases to try to explain the limitations related to the confirmation of investment contracts. In this direction, the criterion "assistance to the economic development of the host government" has been considered as the most controversial criterion among arbitral tribunals. Why this criterion could not be uniformly applied in international arbitration courts and how to prevent its removal in the arbitration procedure is the subject of the analysis presented in this research. The material presented in this research, which was conducted with the method of reading books and survey tools, shows that in facing the With numerous problems related to this standard, it is necessary to pay attention to new investment methods and adopt a flexible approach to fulfill the requirements.
Keywords
Main Subjects
©2024 The author(s). This is an open access article distributed under Creative Commons Attribution 4.0 International License (CC BY 4.0)
trade. Applied Sociology, 26(1), 171-184. (In Persian)
[2] Arab Ahmadi, M.R.; Karimi, M. (2024). An analysis of the theory of independence in international
commercial arbitration. Private Law Research, 12(44), 187-219. (In Persian)
[3] Burger, L. (2013). The Trouble with Salini (Criticism of and Alternatives to the Famous Test). ASA
Bulletin, 31(3), 521-536.
[4] Butler, N.; Tarawneh, J. (2024). A BIT of Protection for Non-Fungible Tokens: Digital Assets as a Catalyst
for Economic Growth. Journal of World Investment & Trade, 25, 93–129.
[5] Chan, D.; Lai, J. (2023). Two decades after Salini v Morocco: The case for retaining the Salini test with
modifications. Arbitration International, 39(1), 63–84, https://doi.org/10.1093/arbint/aiad007.
[6] Collins, D. (2023). An Introduction to International Investment Law. United Kingdom, Cambridge
University Press.
[7] Cottier, T.; Lastra, R. M.; Tietje, C.; Satragno, L. (Eds.). (2014). The rule of law in monetary affairs: world
trade forum. Cambridge University Press.
[8] Douglas, Z. (2011). The International Law of Investment Claims. New York: Cambridge University Press.
[9] García-Bolívar, Omar E. (2010). Protected Investments and Protected Investors. The Outer Limits Of
Icsid’s Reach, 2(1) Trade L. & Dev. 145.
[10] Heath, D.; Lalani, S.; Shapiro, S. (2024). Hospitality & Construction Disputes. Post-Covid, Brill.
[11] Hoffmann, R.T.; Krajewski, M. (2019). Research Handbook on Foreign Direct Investment. USA: Edward
Elgar Publishing.
[12] Jung Engfeldt, H. (2014). Should ICSID Go Gangnam Style in Light of Non-Traditional Foreign
Investments Including Those Spurred on by social media? Applying an Industry-Specific Lens to the Salini Test
to Determine Article 25 Jurisdiction. Berkeley Journal of International Law, 32(1), 44-63.
[13] Karimi, M.; Nasiran, D.; Najafi, M.R.; Arab Ahmadi, M.R. (2024). A reflection on the efficiency of the
arbitration institution in foreign trade. Civil Law Knowledge, 13(1), 121-134. (In Persian)
[14] Konstantinidi, M. (2024). Enhancing the Implementation of Sustainable Development Through
International Investment Law. Switzerland: Springer.
[15] Lim, H.; Jean, P. (2021). International Investment Law and Arbitration Commentary. Awards and Other
Materials, United Kingdom: Cambridge University Press.
[16] Marc Exelbert, J. (2016). Consistently Inconsistent: What Is a Qualifying Investment Under Article 25 of
the ICSID Convention and Why the Debate Must End. Fordham Law Review, 85(3), 11-25.
[17] Matthias, H. (2024). Principles of International Economic Law. 3e, New York: OUP Oxford.
[18] Nakajima, K. (2022). The International Law of Sovereign Debt Dispute Settlement. New York: Cambridge
University Press.
[19] Oke, K. (2021). The Interface between Intellectual Property and Investment Law an Intertextual Analysis.
United Kingdom: Edward Elgar Publishing.
[20] Okpe, F. (2014). Endangered Element of Icsid Arbitral Practice: Investment Treaty Arbitration, Foreign
Direct Investment, and the Promise of Economic Development in Host States. Richmond Journal of Global Law
& Business. 13(2), 17-25.
[21] Paul Newcombe, A.; Cordonier Segger, M.; Gehring, M. (2011). Sustainable Development in World
Investment Law. Netherland: Kluwer Law International.
[22] Rensmann, T. (2017). Small and Medium-sized Enterprises in International Economic Law. United
Kingdom: Oxford University Press.
[23] Rostami, S. (2024). Sustainable development management in countries from the perspective of international
law with an analysis of economic jurisprudence. Economic Jurisprudence Studies, 5(4), 192-175. (In Persian)
[24] Rovine, A. W. (2013). Contemporary Issues in International Arbitration and Mediation: The Fordham
Papers (2012) (Vol. 6). Martinus Nijhoff Publishers.
Commentary on the Convention on the Settlement of Investment Disputes between States and Nationals of Other
States. Second edition, New York: Cambridge University Press.
[26] Shahbazi, A. (2010). “Sustainable development” or “sustainability of development” in international law.
International Law Journal, 27(42), 139-125. (In Persian)
[27] Stepanov, I. (2020). Economic development dimension of intellectual property as investment in
international investment law. The Journal of World Intellectual Property, 23(5-6), 736-758.
[28] Ulrich, G.; Ziemele, I. (Eds.). (2019). How international law works in times of crisis. Oxford University
Press, USA.
[29] Wahab, A.; Mohamed, S.; Duggal, K. (2022). The Resurgence of the Unified Arab Investment Agreement
and the Organisation for Islamic Cooperation Investment Agreement A Dawn of a New Chapter on Investment
Protection?, Netherlands: Brill.
[30] Ziccardi Capaldo, G. (2024). Global Community Yearbook of International Law And Jurisprudence 2023
Global Law. Politics, Ethics, Justice, OXFORD University Press US
[31] Živković, V. (2023). Fair and Equitable Treatment and the Rule of Law. USA: Edward Elgar Publishing
Limited.
)
Send comment about this article