THE CONCEPT OF LEGAL REGIMES, INVESTMENT TREATMENTS AND STANDARDS IN THE INTERNATIONAL INVESTMENT LAW

Author
, PhD student at the Department of International Law, Ukraine, Kyiv

In heading

 Law;

Signed print

 19.12.2024

Issues number

 2024 - №4 (59)

Page

 79-97

Type of articles

 Scientific article

Code UDK

 347.73:[341.232.2:339.727.22]

ISSN print

 2411-5584

Abstract

 Problem setting. As known, the function of one of the key levers in the international legal mechanism of investment law is assigned to the system of bilateral investment treaties (BITs), what is still so even despite tendency of growing influence of multilateral treaties. This normative-legal concept makes those components of BITs that embody the legal regime of foreign investments – one of the most important legal factors in the regulation of international investment relations, which, thus, becomes a key element of bilateral and other international treaties on foreign investments. Due to a certain heterogeneity of the national doctrine in the field of legal regimes regarding the implementation of foreign investments, the obvious lack of a defined connection with standards in the field of international investment law, it is necessary to define the main theoretical and doctrinal concepts related to legal regimes and international contractual standards, connections between them, as even basic terms in the respective scientific space still require some research attention.
Recent research and publication analysis. A significant role in the study of the topic was played by the study of the content of the national legislation of Ukraine on foreign investments, publications of foreign and domestic scientists, in particular the works of authors, including: L. V. Vakarliuk, N. S. Havrysh, Haidamaka I. O., I. A. Sokolova, L. V. Tomash, J. W. Salacuse, V. Ya. Nastiuk, V. V. Bielientseva, M. Sornarajah, S. W. Schill, D. V. Skrynka, V. V. Poiedynok, S. O. Shemshuchenko, R. Dolzer, C. Schreuer.
The purpose of the article. The purpose is to highlight the intermediate results of the author’s scientific study regarding one of the key standards of attitude towards foreign investments, the general role of such standards as means of protection of foreign investments in international law. An additional subject of the study was the establishment of connections between the main provisions of the theory of international investment law from the points of view of the doctrine of national law, international law and the research of Western scientists.
Paper main body. The article considered fundamental the concepts of law in connections to international investment law: regime, investment treatment, standard. The essential attention is given to the concepts of national science, their connections to existing national legislation and theory which could be characterized by existed gaps. Overcoming of these gaps provides author possibility to establish appropriate connections in between of national school of law and West doctrine. That is consolidated by giving the following definition: a legal regime/treatment is a system of legal norms or a legal instrument that establishes general directions for the regulation of social relations regarding certain objects, as well as the basic principles and procedure for realizing the rights and interests of subjects of relevant relations, which, due to conditions of varying degrees of favorability, are able to create a certain level of dynamics of such relations, which, in a general way, aims to achieve a socially significant result determined by the state. It is also provided classification of investment legal regimes/treatments which is done based on soviet school approach. According to the author of this scientific report, such a classification is universal for legal science and the science of international law, it can be used for applied approaches of the Western science. As results definitions of legal regime (treatment) of foreign investments, legal status of the subject of investment activity, legal regime (treatment) of foreign investment and constructs (structures) of legal regimes/treatments of foreign investments are proposed based on existed scientific works. The possibilities of the diplomatic remedies for international investments defending are described, their limitations are mentioned. Some attention is also given to concepts of general international standards, to their connections with treatment standard/ standard of treatment/ treaty standards as well as to the classification of the treatment standards are proposed by J. W. Salacuse. The general classification of standards of treatment is also described. Much attention is dedicated to the concept of constructs (structures) of legal regimes/treatments of foreign investments: its practical benefits and necessity aspect for the theories approaches is existed.
Short abstract for an article
The article analyzes and identifies the key concepts of modern international investment law, which are still based on the dualism of views and terminology, which is explained in sufficient detail various theoretical foundations of the national legal science and international legal doctrine, where the approach of national legal school could be considered as more consistent from the side of the legal theory. In addition to building bridges at the relevant issue, the scientific material deeply describes a new concept of philosophical and legal nature, which was just mentioned in previous author’s articles. This concept allows to qualitatively combine the concepts of national law in relation to foreign investments, to eliminate existing gaps in the theory of law and іnternational law, order to more qualitatively and effectively analyze practical planning in the field international economic relations and international business activities.

Keywords

 investment treatments, treatment standard, standard of treatment, treaty standards, regime, legal regime, international regime, international investment treaties, bilateral investment treaties.

Reviewer

External reviewer

Article in PDF

 Economic Theory and Law, 2024-4-79-97

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Code DOI

 https://doi.org/10.31359/2411-5584-2024-59-4-79

This post is also available in: Ukrainian

19.12.2024