Entrenching the right to regulate in the international investment legal framework: The African experience
Abstract
The existing traditional international investment law regime which is largely based on
the conventional European and North American Model Bilateral Investment Treaties
(BITs) has come under intense criticism. The argument is that this regime, among
other things, prioritises the protection of foreign investors and investments while sidelining significant public interest issues of the host countries. The inability to adequately
accommodate public interest issues in the international investment law has unduly
constrained the host countries’ sovereign right to regulate investments in public
interests and pursue their public policy objectives.
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