Paper Information

Journal:   REVUE DE RECHERCHE JURIDIQUE   WINTER 2012 , Volume - , Number 56; Page(s) 441 To 514.
 
Paper: 

THE NEED FOR FASHIONING COMPREHENSIVE GLOBAL RULES IN THE CONTEXT OF FOREIGN INVESTMENT: REALITY OR DREAM?

 
 
Author(s):  ARIAN MOHAMMAD*
 
* 
 
Abstract: 

In principle, the supremacy of law and regulation is considered as one of indicators of civilized societies which, at present and in view of the growing influence of globalization, has transcended national borders and has been recognized as a device for regulating relations with a global dimension.
In this situation, experts have paid so much attention to foreign investment that, in recent years, we have witnessed an unprecedented growth in the number of bilateral investment treaties (BITs). It is worth mentioning that as a result of the complexity of economic relations and interests and ideas being interwoven in era of globalization, on the one hand, and the negative impacts of foreign investment in the fields of human rights and environment be coming more recognized, on the other, the question has been posed as to whether the existing regulatory frameworks regarding foreign investment (national, bilateral and regional) are sufficient to meet present needs or if those frameworks should be revised in order to set up a new framework in which the governing rules tend to be comprehensive and global?
With regard to the aforementioned question, it has to be said that fashioning comprehensive rules with global coverage seems to be necessary for regulating complex relations in the process of foreign investment and for harnessing the activities of multinational corporations in this era; that is to say, rules that would have great adaptability to the nature and dissemination of activities of those corporations. Nevertheless, the process of laying down those rules not only tends to be costly and time consuming, but also requires overall cooperation and flexibility from all the players active in foreign investment in order to find a fair balance between conflicting interests and ideas.

 
Keyword(s): FOREIGN INVESTMENT, MULTINATIONAL CORPORATIONS, COMPREHENSIVE AND GLOBAL RULES, SOFT LAWS, GLOBALIZATION
 
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