国际商法英文版：3 Chapter 5 Foreign Investment.ppt

CHAPTER 5
FOREIGN
INVESTMENT
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Topics for this chapter:
A. Foreign Investment Laws and Codes
B. Supervision of Foreign Investment
C. Securities Regulations
D. Enforcement of Securities Regulation  Internationally
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A. Foreign Investment Laws and Codes
What is foreign investment?
Ownership by one person of 10 percent of more of the controlling interest in an enterprise not located in the person’s home country.
Some states have general investment laws that limit the type (joint ventures) or percentage of foreign investment.
Other countries put restrictions on investment in specific sectors, such as agriculture, technology, or media.
Some of these laws are incorporated into bilateral investment treaties (BITs)(双边投资协定）.
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BITs
Most often between a developed state and that state’s favored developing states.
Many BITs contain international dispute settlement provisions.
BITs constitute the most important protection of international foreign investment.
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Typical Terms in BITs
BITs usually define foreign investment and the conditions under which investors from one state can invest in the other state.
Often provide fair and equitable treatment clauses and compensation guarantees for expropriation.
National Treatment & Most Favored Treatment
Many designate the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) as the arbitral body.
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a. National Foreign Investment Policies
Purpose of foreign investment regulations:
Promoting local productivity and technological development,
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2. Encouraging local participation, and
3. Minimizing foreign competition in economic areas already well served by local businesses.
a. National Foreign Investment Policies
To achieve these purposes, investment laws establish basic policies for screening and regulating foreign investment applications. These generally fall into three categories:
To encourage investment t