Author(s)

Jacqueline Wang ¹

Affiliation(s)

¹ Faculty of Law, University of Macau, Macau S. A. R, China

Corresponding Author

Jacqueline Wang

ABSTRACT

Under the Convention on the Settlement of Investment Disputes, the International Centre for Settlement of Investment Disputes (ICSID), affiliated with 165 member countries, holds exclusive jurisdiction over state-foreign investor disputes. ICSID arbitral tribunals frequently expand their jurisdiction and amplify protection for foreign investments through broad interpretation of jurisdictional conditions, enlarged application of the Most-Favored-Nation and Umbrella Clauses, and adaptability of the Fork-in-the-Road provision. This paper scrutinizes these strategies and underscores the tribunals' role in shaping investment protection while considering their impact on the delicate balance between international arbitration and local remedies. It concludes by advocating for a more balanced approach that respects local remedies while safeguarding foreign investment interests.

KEYWORDS

ICSID; BITs; Foreign Investment Protection; Jurisdictional Expansion; Fork-in-the-Road Clause; Most-Favored-Nation Clause; Umbrella Clause

CITE THIS PAPER

Jacqueline Wang, Navigating Jurisdictional Expansion: An Analysis of ICSID's Role in Bolstering Foreign Investment Protection. Science of Law Journal (2023) Vol. 2: 1-4. DOI: http://dx.doi.org/DOI: 10.23977/law.2023.020701.

REFERENCES

[1] ICSID Case No.ARB/01/12, Azurix Corp. v. The Argentine Republic. 
[2] ICSID Case No. ARB/02/8, Siemens A. G. v. The Argentine Republic. 
[3] ICSID Case No. ARB/97/6, Lanco International Inc. v. The Argentine Republic. 
[4] ICSID Case No. ARB/96/3, Fedax N. V. v. Republic of Venezuela. 
[5] ICSID Case No. ARB/81/1, Amco Asia Corporation and others v. Republic of Indonesia. 
[6] Newcombe, A. P., & Paradell, L. (2009). Law and practice of investment treaties: standards of treatment. Kluwer Law International BV. 
[7] Rubins, N. (2008). MFN clauses, procedural rights, and a return to treaty text. Investment treaty arbitration and international law, 1, 213-229. 
[8] Parker, S. L. (2012). A BIT in Time: The Proper Extension of the MFN Clause to Dispute Settlement Provisions in Bilateral Investment Treaties. Arbitration Brief, 2, iii. 
[9] ICSID Case No. ARB/97/7, Emilio Agustín Maffezini v. The Kingdom of Spain. 
[10] ICSID Case No. ARB/01/13, Société Générale de Surveillance S. A. v. Islamic Republic of Pakistan. 
[11] Grane, P., & Bombassaro, B. (2013). Umbrella Clause Decisions: The Class of 2012 and a Remapping of the Jurisprudence. 
[12] ICSID Case No. ARB/02/6, Société Générale de Surveillance S. A. v. Republic of the Philippines. 
[13] Petsche, M. A. (2019). The fork in the road revisited: an attempt to overcome the clash between formalistic and pragmatic approaches. Washington University Global Studies Law Review, 18, 391. 
[14] ICSID Case No. ARB/98/5, Eudoro Armando Olguín v. Republic of Paraguay. 
[15] ICSID Case No ARB/99/2, Alex Genin, Eastern Credit Limited, Inc. and A. S. Baltoil v. The Republic of Estonia. 
[16] ICSID Case No. ARB/01/3, Enron Creditors Recovery Corporation (formerly Enron Corporation) and Ponderosa Assets, L. P. v. Argentine Republic. 
[17] Dundas, H. R. (2008). The Oxford Handbook of International Investment Law.

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