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PART V SUBSTANTIVE INVESTMENT LAW, 23 LOCAL REMEDIES AND THE STANDARDS FOR THE PROTECTION OF FOREIGN INVESTMENT

Ursula Kriebaum

From: International Investment Law for the 21st Century: Essays in Honour of Christoph Schreuer

Edited By: Christina Binder, Ursula Kriebaum, August Reinisch, Stephan Wittich

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 05 May 2021

The still increasing number of arbitral proceedings suggests that international investment arbitration is a success story. Investors and host States have a common interest in this legal framework despite some States’ attempts to leave the ICSID system or to limit the protection of certain substantive standards in recent model bilateral investment treaties (BITs). Investors look for legal stability and for an accessible neutral forum of decision-making in case of a dispute with the host State. Host States seek to attract investments and for that purpose have to...
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