国际商法第五版第五章——ray·august著.ppt

CHAPTER 5 FOREIGN INVESTMENT CHAPTER 5FOREIGN INVESTMENT Topics for this chapter: Foreign Investment Laws and Codes Supervision of Foreign Investment Securities Regulations Enforcement of Securities Regulation Internationally 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). 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. 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. Many designate the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) as the arbitral body. National Foreign Investment Policies Purpose of foreign investment regulations: Promoting local productivity and technological development, Encouraging local participation, and Minimizing foreign competition in economic areas already well served by local businesses. Policies for Regulating Investment Applications 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 through incentives and minimal regulation