International Investment Research Articles

Unlocking arbitration: evolving legal standards for commercial agency disputes in Jordan and the UAE

Purpose The purpose of this paper is to provide an in-depth analysis of the historical restrictions imposed by the UAE and Jordan on the arbitrability of agency disputes, driven by public policy considerations to protect local agents. It examines recent developments in UAE arbitration law and their alignment with global trends in international arbitration. The study evaluates how these reforms balance local agency interests with contractual autonomy. By offering comparative perspectives, the paper provides valuable lessons for Jordan and other restrictive nations in the Arab world to modernize their arbitration frameworks, reconcile domestic and international priorities, and enhance their appeal for international trade and investment. Design/methodology/approach This paper examines the legal framework for arbitrating commercial agency disputes in Jordan and the UAE, two civil law jurisdictions with a shared tradition but distinctly different approaches. While the UAE’s 2022 reforms have clarified questions regarding arbitrability and aligned its legal framework with internationally recognized standards, Jordan’s framework has retained a framework that tends to be constrained by uncertainties within its domestic laws and an excessive reliance on court jurisdiction. These uncertainties undermine the effectiveness of arbitration, limit access to justice and create problems, particularly for international businesses that value what the arbitration provides. The paper, through a comparative analysis, highlights the gaps in Jordan’s arbitration framework and identifies lessons from the UAE’s balanced reform. It provides actionable recommendations for Jordan, including clarifying arbitrability, reducing court interference and harmonizing domestic laws with international arbitration norms, such as the New York Convention. These steps could enhance Jordan’s dispute resolution system, promote legal certainty and create a business-friendly environment. Thus, it encourages economic growth and international investments. Findings This study compares Jordan’s restrictive arbitration framework for commercial agency disputes with the UAE’s proactive reforms. The UAE’s 2022 legislative changes align its laws with international standards, balancing public policy considerations with arbitration autonomy, positioning it as a regional leader in dispute resolution. Conversely, Jordan’s framework suffers from ambiguities, excessive court reliance and limited application of the Kompetenz-Kompetenz principle, undermining arbitration’s effectiveness and discouraging investment. Key recommendations for Jordan include clarifying arbitrability, reducing judicial intervention and narrowing public policy considerations. Aligning with international standards would foster legal certainty, attract investments and promote Jordan as a hub for international commerce. Practical implications This study provides actionable insights for improving Jordan’s arbitration framework, addressing legal ambiguities and excessive court intervention in commercial agency disputes. By aligning domestic laws with international standards like the UNCITRAL Model Law and the New York Convention, Jordan can enhance legal certainty and arbitration’s effectiveness. Limiting judicial interference and clearly defining public policy considerations will create a more business-friendly environment. These reforms not only strengthen access to justice but also cross-border commerce. Learning from the UAE’s balanced approach, Jordan can position itself as a regional hub for efficient and reliable dispute resolution. Originality/value This research provides a unique contribution by highlighting the uncertainty surrounding the non-arbitrability of commercial agency disputes in Jordan, an area of significant legal importance that has yet to be thoroughly explored. By comparing Jordan’s approach with the UAE’s legislative framework before and after its 2022 reforms, the study offers a legal analysis of two civil law jurisdictions with similar legal traditions but differing approaches to arbitration in distribution disputes. The research sheds light on these contrasts, providing valuable insights into the evolving interplay between arbitration and commercial agency regulation in the region.

Identification and Disclosure of TPF in International Investment Arbitration: A Perspective from ICSID Jurisdiction

This article delves into the multifaceted role of third-party funding (TPF) in international investment arbitration (ISA), scrutinizing its burgeoning influence and the attendant risks to the arbitration process's integrity. The paper underscores the imperative for legal reforms within the ICSID framework to bolster transparency and fairness by advocating for a more precise definition of TPF, enhancing evidence standards, and emphasizing the transparency of non-profit TPF. It tackles the practical challenges arising from the current ambiguities in TPF definitions and proposes reforms to mitigate the risks of conflicts of interest. The paper's objective is to ensure that arbitration processes remain efficient, fair, and free from undue influence, thereby upholding the integrity and legitimacy of international dispute resolution mechanisms and maintaining public trust in the arbitration's outcomes. This analysis is crucial for understanding the evolving landscape of TPF in ISA and for shaping the future of legal reforms that will safeguard the fairness and efficiency of arbitration proceedings in the international arena.

Towards a Clear and Autonomous Definition of Tax Measures in International Investment Agreements

This contribution is concerned with addressing an increasingly topical issue within international economic law and, in particular, the interface of international tax and investment law, which has seen unprecedented developments in recent times and now appears to have reached a point of discontinuity. This contribution focuses, in particular, on reconstructing an autonomous contemporary definition of “tax measures” under international investment agreements in light of the contribution of scholarship and of recent investment arbitration awards, contrasting these trends with developments in the area of tax treaty interpretation.

Exploring the Prevalence of Renewable Energy Practices and Awareness Levels in Palestine

ABSTRACTThe growing demand for energy in developing societies, coupled with dwindling conventional resources, necessitates the adoption of renewable energy (RE) sources. A comprehensive understanding of these sources and their optimal utilization is crucial. The awareness of the users plays a very important role in the effective utilization of different energy sources. Hence, this study examines the level of RE awareness in Palestine, identifying factors influencing public perception and exploring potential strategies for promoting RE adoption. This awareness depends on different factors related to the users' education level, community type, and type of building. Different factors that affect the willingness and attitude to gain knowledge about RE are presented. In addition, various practices highlighting the increasing level of awareness regarding the adoption of RE sources are investigated. In addition, the status of RE education and its potential impact on engineers have also been discussed. Various individual and institutional efforts are highlighted in the study as strategies to bridge the gap and overcome obstacles to adopting RE sources. Suggestions for better use of these resources have been highlighted. Thereafter, recommendations for effective RE implementation in Palestine are analyzed and conclusions are drawn. The main challenges in integrating RE into Palestine's existing energy grid and system include infrastructure limitations, resources and financial constraints, and political issues. Still, there are possibilities in the form of international collaboration and investment. A flexible and modular RE grid could also address some of these challenges by integrating small‐scale systems that can be scaled up as needed.

“We are left to fend for ourselves”: understanding why teachers struggle to support students’ mental health

Student mental health is linked to improved learning, and there has been significant international investment in policies, practices, and programs focused on preventing and responding to mental health conditions amongst young people. Accordingly, the number of mental health and wellbeing interventions now being implemented in education settings continues to grow, despite a lack of research on teacher readiness to implement such interventions. Numerous studies have associated educator stress and burnout with increased workloads, yet the complexity of student needs, coupled with an ongoing lack of support, continue to result in high rates of educator attrition. This paper presents the findings of a recent mixed methods study of educators from schools and universities in Australia. The research approach included three key activities: (i) a systematic document review and synthesis of literature and policy documents, (ii) a validated “teacher worry” questionnaire that explores reasons for worry amongst educators, and (iii) qualitative interviews with key stakeholders, including educational psychologists, teachers, and preservice education coordinators. Correlation analysis suggests a relationship between individual sources of worry and intention to leave the profession, while thematic analysis offers insights into the experiences of educators, and their need for better support. Overall, the findings suggest that although teachers are already heavily burdened by their workload, they are increasingly subject to elevated expectations of dealing with diverse students’ needs and behaviors. The research also indicates that educators’ stress and poor mental health reduces their motivation to help students to reach academic goals.

FORMATION OF AN EFFICIENT REGULATORY SYSTEM OF INTERNATIONAL INVESTMENT UNDER CONDITIONS OF INCREASING CHALLENGES OF SUSTAINABLE DEVELOPMENT

In modern conditions of increasing challenges of sustainable development, there is a need to create an effective system of regulation of international investment activities that would ensure economic, ecological and social balance. The article examines global flows of foreign direct investment by different groups of countries: a global trend that can be associated with economic difficulties, geopolitical crises, as well as the impact of inflation or global slowdown in production. The article reviews the investments of the TOP-10 largest economies in the world in the energy transition until 2023, as well as the EU-27 and the rest of the world. Solar and wind energy have been found to be leaders among green investments. China, the USA and the EU are actively financing large-scale projects in this area, and the fall in the cost of technology contributes to the rapid implementation of renewable energy sources In the context of this study, monitoring of the rating of countries according to the Environmental Performance Index (EPI) was carried out, which is a tool that helps to assess the success of countries in protecting the environment and achieving sustainable development, and also provides an opportunity to identify problem areas, stimulates transparency in politics and promotes the implementation of effective solutions for global environmental challenges. A general decline in EPI values among leading countries may indicate an increase in global environmental challenges. The improvement of Ukraine's position indicates progress in the implementation of environmental reforms, but the gap with the leading countries remains significant. International investment policy for attracting «green» investments has significant potential to accelerate the transition to sustainable development. The article outlines the prospects of international investment policy for attracting «green» investments; the principles of forming an effective system of regulation of international investment based on the principles of sustainable development (transparency and accountability, integration of environmental standards, protection of the rights of local communities, compliance with international standards) and its elements (development of international regulatory acts, financial incentives, monitoring and reporting mechanism, sanctions for violations) are defined).

СУЧАСНІ ТЕНДЕНЦІЇ ІННОВАЦІЙНОГО РОЗВИТКУ БУДІВЕЛЬНОЇ ГАЛУЗІ УКРАЇНИ: МІЖНАРОДНА ПРАКТИКА

Introduction. In the current context of globalization and integration of the Ukrainian economy into the global space, the innovative development of the construction industry is of particular importance. The development of innovative solutions in construction is becoming a critical factor in increasing the competitiveness of the industry and analyzing advanced innovative technologies used in international practice and the possibilities of their adaptation to Ukrainian realities. The purpose of the article. The purpose of the article is to search for modern trends used in international practice related to the innovative development of the construction industry in Ukraine. Methods. The study of modern trends in the innovative development of the construction industry of Ukraine involves the use of scientific research methods that provide a systematic approach to analyzing the experience of developed countries, which allows obtaining objective results that contribute to the formation of recommendations for the implementation of innovations in Ukraine. Results. The article substantiates that the construction industry of Ukraine is one of the key sectors for economic development and, in the context of globalization and constant economic changes, it needs to be adapted to new realities. It is proved that one of the main factors of sustainable development of the construction industry is the introduction of modern innovations. The successful experience of developed countries in the field of construction is considered, which demonstrates that an innovative approach to the construction process is important for increasing competitiveness, developing infrastructure and improving environmental performance. Such successful experience is determined by the use of innovative technologies, sustainable construction practices, efficient resource management and attraction of international investments. The article provides several examples of successful experience in the field of construction in different countries. Leaders in the development of sustainable construction and energy-efficient technologies, in the use of renewable energy sources for construction, in the application of advanced technologies for the construction of earthquake-resistant buildings, in the creation of a sustainable urban environment through the use of vertical construction and in the integration of various engineering systems in cities are identified. The article determines that for Ukraine, which is undergoing an intensive economic transformation, the issue of introducing international innovations is extremely relevant. The factors that confirm the importance of introducing international innovations into the construction industry of Ukraine are identified. It is substantiated that they are due to the current situation in the country, its economic and social transformations, as well as the challenges facing the national construction sector. Conclusions are drawn that require a focus on the use of energy efficient technologies, smart buildings, sustainable materials, and the integration of digital technologies, which will significantly increase the efficiency of construction processes, reduce costs, and help preserve natural resources. Leveraging international experience in construction will also help Ukraine not only modernize its sector but also become competitive in the global construction services and investment market. Conclusiоns. The unstable economic situation, the consequences of military actions and global environmental challenges create a unique environment in which innovations become not only desirable but necessary, especially in the construction industry.

Do technology-seeking transnational alliances promote the innovation quality of the parent company?

ABSTRACT The existing literature lacks research on technology-seeking transnational alliances (TTAs) in emerging markets. Therefore, we examine whether TTAs can improve parent companies’ innovation quality. Results of analysis of a sample of listed Chinese firms over 2006–2020 show that TTAs significantly boost parent companies’ innovation quality. Further analyses reveal that this effect is realized through executive overseas experience (EOE) and domestic technology alliances (DTAs). Overall, our study provides strategic options for managers when selecting international investments.

An Analysis the Arbitration (International Investment Disputes) Act, 2011 with Reference to the Protection of Foreign Investors in Pakistan

An Analysis the Arbitration (International Investment Disputes) Act, 2011 with Reference to the Protection of Foreign Investors in Pakistan

Human Rights Obligations in FDI Operation: A Paradigm Shift in BITs

Incorporation of human rights obligations into bilateral investment treaties (BITs) is rare. However, with the rise of mega investment-related disputes in developing countries, there are growing concerns about the negative impact of foreign direct investment (FDI) on the human rights of the local population from various aspects, directly and indirectly. Apart from jus cogens norms, the international investment law does not impose any direct obligation on human rights in BITs. Therefore, the scope of ‘human rights’ within the present BITs is yet to be determined. There is a pressing need to include human rights obligations in BITs from various corners, including civil society and the UN Conference on Trade and Development (UNCTAD). This paper focuses on the changing paradigm of approaches adopted by the UN, UNCTAD, and scholars in advocating for the inclusion of human rights obligations in the context of FDI operations, mainly referring to the Ruggie Report (2011). The paper focuses on which set of human rights instruments should be referred to as the BITs and the appropriate mechanism to enforce those obligations, as well as addresses the challenges to implement. The paper aims to emphasise the fact that human rights will claim greater significance in future, and countries negotiating BITs will eventually be pushed forward to include human rights obligations, at least in response to growing concerns about the rightfulness of the treaty obligations of the current generation of BITs and the growing demand for more balanced BITs. Dhaka University Law Journal, 2024, 35 (1), 31-52

Reflection on Fair and Equitable Treatment Standard in China s Practice

International investment law always emphasizes the importance of improving the Fair and Equitable Treatment (FET) standard. Though many studies have summarized several new changes in the FET standard worldwide in recent years, there is a lack of effective evaluation and unified explanation for Chinas FET standard practice. Therefore, this paper aims to expound the hidden problems and solutions to Chinas application of the FET standard by exploring the developments of the FET standard in terms of treaty design and arbitration interpretations in recent years. The paper finds that states turn to impose a restriction of the scope of protection in bilateral investment treaties & international investment agreements as well as polish FET clauses in a more precise way, while the overall design of the FET standards in China remain backward. In addition, arbitration tribunals have more specific interpretations of the connotation of FET, but China's lack of arbitration experience makes it difficult to optimize FET clauses through arbitration interpretations. Therefore, this paper suggests China should specify its FET clauses in semi-closed enumeration method and more precise expression and systematically study tribunal interpretations of the FET standard elements as reference.

International investment as a factor of recovery and development of the post-war economy of Ukraine

Introduction: The relevance of the topic of studying international investment in the context of Ukraine's post-war reconstruction is due to the need for rapid economic recovery and sustainable development of our country in the context of global economic instability. Methods: Two types of research methods were used to achieve the main goal: general scientific and unique scientific methods. General scientific methods include analysis, synthesis, explanation and generalisation. Results: As a result of the study, the structure and dynamics of international investment in Ukraine's economy are examined. It is noted that the war in Ukraine has led to significant changes in the direction of international investment, with a decrease in investments in the agricultural sector and a reorientation towards public administration, defence and industry. These changes reflect the need to adapt investment strategies to new conditions and challenges. It is important to continue developing digital technologies and innovative industries, as they have significant potential for long-term economic growth. Conlcusions: The study concludes that international investment is a critical factor in recovering and developing Ukraine's post-war economy. They not only provide additional resources for the implementation of infrastructure and economic projects, but also facilitate technology transfer and the introduction of best management practices. New financial instruments, such as green bonds, will play a unique role in attracting international investments to the sustainable recovery of Ukraine. Ukraine needs to develop the green bond market to diversify investors and attract green investors.

Transparency, Accountability, and Influence in the International Investment Law System

This article offers the first interdisciplinary critique of transparency in international investment law (“IIL”) that draws on transparency-skeptical and accountability scholarship in political science and public administration. Not only has the expansive IIL literature overlooked these disciplines, but much of it fails to define the core concept of transparency. Building on contributions from the fields of administrative law, international relations, and system theory in classic political science, we provide a novel functionalist account of transparency that traces a line from transparency to accountability to influence in the IIL system. We make three arguments. First, transparency involves access to data that must be interpreted by an enabled target audience. Second, transparency is not a good in itself but rather a means of advancing accountability, which in turn is designed to promote influence in the system; that is, transparency and accountability are both secondary rather than primary values. Third, transparency is best understood at a system level; a system framework highlights the multiplicity of actors making divergent demands for the creation or application of IIL rules and illuminates the distribution of influence and how that distribution may be shifted by systemic reforms. We apply the lessons from our conceptual discussion to explain the limited utility of recent transparency reforms in investor-state dispute settlement (“ISDS”) by key IIL institutions such as the United Nations Commission on International Trade Law (“UNCITRAL”), insofar as they rely on the public as the primary actor and agent of change in the IIL system. Beyond transparency-specific reforms, we also consider how our theory bears on broader ISDS reforms currently under review by UNCITRAL Working Group III, which has embarked on a historic mission to reform ISDS from the ground up.

The measurement of international investment through FDI statistics: structure and results of the Bank of Greece's annual foreign direct investment survey

The purpose of this article is to describe the methodology, the statistical process and the results obtained from the annual Foreign Direct Investment (FDI) survey conducted by the Bank of Greece. First, we make extensive reference to the OECD Benchmark Definition of Foreign Direct Investment (BMD4), which provides full and detailed guidance on the coverage and compilation of FDI statistics. After defining what FDI statistics include and illustrating the ownership structure of a multinational enterprise group under the Benchmark Definition, the analysis focuses on the instructions of BMD4 for the compilation and presentation of aggregated as well as detailed FDI statistics by partner country and by economic activity. Next, we outline the content and the structure of the survey’s questionnaires and the statistical process followed for the compilation of FDI statistics. Finally, we present the results obtained from the FDI survey at the level of stocks by partner country and by economic activity, as well as the main economies that ultimately control investments in Greece and the intermediate chains they use.

Determinants of Foreign Portfolio Investment in the Western Balkan Countries

Securities and other capital inflows of assets that may be held by other foreign nations make up international portfolio investments. An investor who makes a foreign portfolio investment (FPI) gains indirect ownership of financial assets. So, this study aims to investigate the main determinants of FPI in Western Balkan countries. Key variables included in the study are portfolio investment, GDP per capita growth, foreign direct investment (FDI), external debt (EXD), inflation, population, real interest rate, and regulatory quality, sourced from the World Bank. The methodology employed involves panel data regression analysis using fixed and random effects, allowing the observation of the influence of economic, demographic, and institutional factors across time and entities. It is important to observe if FPI is determined by economic growth and other considered potential determinants. The findings indicate that the portfolio investment of Western Balkan countries is significantly influenced by GDP per capita growth, external debt, inflation, and real interest rates.

Settling Investor-State Disputes in the GCC: A Critical Analysis of the Challenges under International Investment Law

Settling Investor-State Disputes in the GCC: A Critical Analysis of the Challenges under International Investment Law

“The Vision Splendid"

This paper takes its lead from the Federal Government publication ‘Future Made in Australia’ (2024), and critiques Government plans to make Australia ‘an indispensable part of global supply chains’. In view of the Government objective of making Australia a ‘Renewable Energy Superpower’ from a manufacturing base of clean energy technologies, renewable hydrogen, green metals, and low-carbon liquid fuels, the paper reviews some of the comparative advantages Australia possesses that might make this vision a reality. It also highlights from a historical perspective, some of the disadvantages that might inhibit fulfillment of the Government plans. Following a narrative literature review methodology, the paper finds that any revival of manufacturing in Australia to engage global supply chains would face a steep challenge due to Australia’s high wage structure. On a brighter note, possibilities in clean energy domestic manufacturing appear promising. Government plans to achieve 82% renewable energy in electricity grids by 2030 look to be achievable if the present Government retains office, and appropriate public support is forthcoming. Green hydrogen/ammonia power generation looks almost certain to replace aging coal plants, again provided support is appropriate in the critical development stages. On present analysis, this paper finds that Government support and financial assistance to industry towards eventual Renewable Energy Superpower status appears to be substantially less than required for a home-grown industry to develop. International investment partnerships would appear to be the only avenue forward if Australia is to realise its comparative advantage of wide open spaces and abundant wind and sun.

Investment Law and the Right to Regulate Public Health and Environmental Protection

This article explores the tension between investment law protections and a state’s right to regulate public health and environmental protection. International investment agreements (IIAs) provide strong protections for foreign investors, often limiting host states’ regulatory freedoms. This dynamic can create challenges when states seek to implement policies for public welfare that may impact foreign investments. The study examines case law, such as Philip Morris v. Uruguay and Vattenfall v. Germany, to highlight conflicts between investor rights and regulatory measures. Through a review of recent treaties, including the Comprehensive Economic and Trade Agreement (CETA) and the United States-Mexico-Canada Agreement (USMCA), the article identifies emerging mechanisms like explicit right-to-regulate clauses, carve-outs, and interpretive guidelines designed to balance investment protection with the public interest. The results indicate that some protections are provided by new treaty provisions, but interpretive flexibility and a lack of automaticity in procedural aspects of arbitration can create as-yet unresolved challenges. It recommends that investment law reforms go further and focus on placing the public interest at the heart of investment law, establishing an architecture supportive of sustainable development, and enabling states to respond to pressing health and environmental problems without running the risk of investor claims.

SOIL DAMAGE AND RECOVERY IN UKRAINE: LESSONS FROM GLOBAL POST-WAR EXPERIENCES

The russian invasion of Ukraine has resulted in extensive environmental damage, significantly affecting the country’s soil quality and raising concerns about long-term agricultural sustainability and environmental health. The war has resulted in soil degradation through contamination by military operations, destruction of farmland, and disruption of natural ecosystems. The objective of the research is to evaluate the environmental consequences of the war in Ukraine, with a particular emphasis on soil degradation and the development of strategies for post-war restoration. The manuscript will entail a comprehensive review of existing literature on soil degradation and post-war environmental restoration, with a particular focus on case studies from conflict zones such as Vietnam, the Balkans, and post-Second World War Europe. Furthermore, an analysis of data from Ukrainian government agencies, environmental organizations, and international bodies will be conducted to assess the extent and nature of soil damage caused by the war. To achieve effective recovery of its soils and ecosystems, Ukraine can draw on global experiences and implement long-term strategies combining modern decontamination technologies, sustainable agricultural practices and policy reforms that promote ecological resilience. Environmental, social, and economic factors must be integrated into the country’s post-war recovery strategy. It is imperative that international cooperation and investment in environmental restoration, in conjunction with community involvement, are pursued in order to guarantee the success of these endeavours and to provide Ukraine with the support it requires in order to achieve a sustainable and resilient agricultural future. The research provides a foundation for the development of integrated strategies that leverage global lessons, thereby ensuring long-term recovery for Ukraine’s soil and agricultural systems.

Arab Culture and Organisational Context in Work-Life Balance Practice for Men and Women: A Case Study from Gaza, Palestine

This paper examines types of WLB (Work–Life Balance Policies) that have emerged in research in Western countries, and compares their applicability for male and female employees in Arab countries in general, and in Gaza, Palestine in particular. A qualitative study has been undertaken with employees of telecommunication companies, with thematic analysis to identify new kinds of WLB in an Arab culture. The WLB policies identified in the two companies were often quite different from those identified by Western researchers, and were guided by the religious principles of Islam, cultural factors, and the needs and aspirations of female employees. The international investors identified had adapted their policies to meet the cultural requirements of an Arabic society. This paper contributes to debates on the effectiveness of, and the need for culturally adapted WLB policies which try to meet the aspirations of women in developing countries. Additionally, this case study adds a new theoretical base, advocating the importance of WLB policies which are adapted to local cultural conditions in ways which also meet the aspirations of international business models. The WLB practices identified have not been described previously in any detailed study. The WLB policies and practices identified advocate for further research studies focusing on gender differences in the provision and take-up of WLB, using both qualitative and quantitative methodologies.