CEU Electronic Theses and Dissertations, 2020
| Author | Suleimanov, Azamat |
|---|---|
| Title | Redefining Investment for the Benefit of Host States: Incorporating the Salini test into Kyrgyz Investment Law |
| Summary | The absence of a uniform concept of "foreign investment" creates different interpretations of investment by the states. Some states define the term "investment" too broadly in order to create a friendly investment environment, which is hardly correct from the point of view of protecting the interests of the state receiving the investment. The broad concept of foreign investment raises a debate about the effectiveness of economic development in the host state since international investment treaties entitle foreign investors who do not even bring any contributions to the economy of the host state, with the right to sue the state. Due to certain circumstances, developing States receive more investment claims than the contribution to the economy of the host state. The Kyrgyz Republic is a party to many investment protection treaties. In these treaties, the concept of investor is defined broadly, and pays more attention to protecting the interests of the investor and creating investment guarantees, and has less interest of the state itself. Many investors already have lawsuits against the Kyrgyz Republic, using the state's investment legislation. The qualification of the concept of investment plays a key role in the resolution by arbitrators of the subject matter jurisdiction ratione materiae of the International Settlement Investment Disputes (ISID). The most well-known approach is that the so-called Salini test is used to qualify the concept of investment under Article 25(1) of the ICSID Convention. According to this test, the disputed transaction must have a contribution to the economic development of the host state. |
| Supervisor | Soave, Tommaso; Lawrence, Jessica Charles |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2020/suleimanov_azamat.pdf |
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