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African perspectives in international investment law$
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Yenkong Ngangjoh Hodu and Makane Moïse Mbengue

Print publication date: 2020

Print ISBN-13: 9781526151278

Published to Manchester Scholarship Online: September 2021

DOI: 10.7765/9781526151285

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PRINTED FROM MANCHESTER SCHOLARSHIP ONLINE (www.manchester.universitypressscholarship.com). (c) Copyright Manchester University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MSO for personal use.date: 26 May 2022

Foreign investment treaties and the sovereignty of developing host States: ants riding elephants?

Foreign investment treaties and the sovereignty of developing host States: ants riding elephants?

Chapter:
(p.30) 3 Foreign investment treaties and the sovereignty of developing host States: ants riding elephants?
Source:
African perspectives in international investment law
Author(s):

Justice Osei-Afriyie

Publisher:
Manchester University Press
DOI:10.7765/9781526151285.00009

In an assiduous attempt to entrench the private rights of investors and promote foreign investment, arbitral tribunals have given expansive and very broad interpretations to the meaning and scope of most-favoured-nation and fair and equitable treatment clauses without taking cognisance of the public policy space of host States. It is the basic contention of this chapter that the legal regime of foreign investment only imposes obligation on sovereign host States without imposing corresponding duties on foreign investors. The chapter argues that such an approach makes the relationship between foreign investors and host States unbalanced and, as a result, has undermined the sovereignty of host States. This threatens the legitimacy of the international investment regime.

Keywords:   international investment law, ISDS, fair and equitable treatment, most-favoured-nation treatment, legitimate expectation, expropriation

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