Rethinking the promotion and protection of foreign investments: South Africa’s Protection of Investment Act 22 of 2015
Rethinking the promotion and protection of foreign investments: South Africa’s Protection of Investment Act 22 of 2015
As a result of the criticism against investment treaties, South Africa terminated several of its investment treaties and adopted a piece of legislation on the protection of investment. Against this background, the chapter analyzes and compares the protection provided under the Act with the protection provided under investment treaties. Following a thorough examination, the chapter argues that the Act offers a level of protection definitely lower than that normally provided by international investment treaties from both substantive and procedural standpoints. The chapter ends on a pessimistic note regarding the appropriateness of South Africa’s response to the criticism against investment treaties and offers alternative options for the way forward.
Keywords: international investment law, South Africa’s Protection of Investment Act 22 of 2015, South Africa’s national investment policy, domestic remedies, ISDS, Global South
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