scholarly journals Review of Some Aspects of Investment Arbitration under the International Centre for Settlement of Investment Disputes

Law and World ◽  
2020 ◽  
Vol 6 (2) ◽  
pp. 76-83
Keyword(s):  
Dispute Resolution ◽  
World Bank ◽  
Foreign Investment ◽  
International Investment ◽  
Primary Objective ◽  
Investment Climate ◽  
Investment Protection ◽  
The World Bank ◽  
The World ◽  
The Creation

An economic development of the states highly depends upon the flow of private international investment. Whilst the creation of suitable investment climate which would guarantee the fair and equitable treatment of foreign investment within the depoliticized and impartial dispute resolution system had been objective of the World Bank, the International Centre for Settlement of Investment Disputes was established under its auspices. The primary objective of the ICSID Convention has been viewed on facilitating and safeguarding of private international investment through the creation of a favorable investment climate. Arbitration under the ICSID, serves not only in favor of investors but also of host states. Whilst the favorable means are offered to the both parties for dispute resolution according to the major provisions of the Convention, the “execution of the awards”, represent the slight alteration in the disadvantageous position of the foreign investor. The aforementioned alteration as the time consuming process, fulfilled within the state bureaucracy is more sensibly approached by the foreign investors in developing countries, under which the political risk and demand for foreign investment protection is always one of the highest extent. However, by virtue of signing the Convention, the states not only accept the proposed dispute resolution mechanism, but also declare and desire to welcome the foreign investment. As states aforementioned attempts could be related to the creation of the Global Forum for delivering better Investment Climate, the demands of the World Bank in the sphere is one of the most significant importance.

Part I Transnational Corruption and International Efforts at its Control, 4 International Efforts to Combat Corruption in Foreign Investment

2014 ◽  
Author(s):  
Llamzon Aloysius P
Keyword(s):  
World Bank ◽  
Foreign Investment ◽  
International Institutions ◽  
Codes Of Conduct ◽  
Multinational Companies ◽  
Foreign Corrupt Practices Act ◽  
World Community ◽  
The World Bank ◽  
The Us ◽  
The World

This chapter discusses how various actors in the world community have sought to combat transnational corruption. The most important of these actors are, of course, States, and the discussion begins with the efforts of the US through the Foreign Corrupt Practices Act. It then turns to the OECD Anti-Bribery Convention and the various regional instruments inspired by that treaty, culminating in the UN Convention Against Corruption. It considers efforts by multinational companies to institute norms and codes of conduct to guide their foreign investment relationships; and the response of international institutions, particularly the World Bank and international civil society. The chapter ends with an appraisal of the strengths and vagaries of the current regime of international anti-corruption law.

Recent Practice of the Inspection Panel of the World Bank

1997 ◽  
Vol 91 (4) ◽  
pp. 741-744 ◽  
Author(s):  
Richard E. Bissell
Keyword(s):  
International Law ◽  
International Development ◽  
World Bank ◽  
Actual Practice ◽  
International Development Association ◽  
International Bank ◽  
The World Bank ◽  
The World ◽  
The Creation

The creation of the independent Inspection Panel in 1993 by identical resolutions of the International Bank for Reconstruction and Development and the International Development Association (World Bank or Bank) has been well analyzed elsewhere. What has not been noted is the actual practice of the Inspection Panel, as well as the evolving impact on international law of the cases brought before this innovative institution associated with the World Bank.

scholarly journals What can ESL offer to the data collector? Describing, defining, designing and deploying an alternative ESL approach

2019 ◽  
Vol 65 (3) ◽  
pp. 345-355
Author(s):  
Clare Fisher Williams
Keyword(s):  
Sri Lanka ◽  
World Bank ◽  
Foreign Investment ◽  
Quantitative Research ◽  
Good Governance ◽  
Empirical Work ◽  
Investment Climate ◽  
Alternative Approach ◽  
The Social ◽  
The World

For the World Bank, the importance of the legal climate for attracting foreign investment is axiomatic and the legal and political aspects of an investment climate are measured in the World Bank’s ‘good governance’ programme. However, the assumptions underlying this rely on quantitative research setting out correlation and highlighting a narrow range of voices. An ESL-inspired approach to empirical work can question what investors want from a host state legal system while also addressing criticisms of existing literature. As a case study, Sri Lanka is set out as a country actively engaged in attracting foreign investment through the creation of an ideal investment climate. The discussion first describes the empirical by setting out the role of World Bank rationalities in shaping Sri Lanka’s investment climate. It then defines the analytical, locating ESL in the social sciences and outlining the debates surrounding the central concept of embeddedness. It goes on to design an alternative approach by combining elements of three frames, both addressing existing criticisms and avoiding embeddedness. This is then deployed and the applications and implications for framing relations of foreign investors in Sri Lanka are set out.

scholarly journals Efisiensi Administrasi Pajak sebagai Strategi Peningkatan Kemudahan Berusaha di Indonesia

2021 ◽  
Vol 5 (1) ◽  
pp. 74-90
Author(s):  
Muhammad Wiryo Susilo
Keyword(s):  
World Bank ◽  
Qualitative Approach ◽  
Tax Administration ◽  
Investment Climate ◽  
Payment Methods ◽  
Doing Business ◽  
The World Bank ◽  
Digital Services ◽  
The World ◽  
Ease Of Doing Business

The COVID-19 pandemic threatens the world's investment climate, including Indonesia. Indonesia is required to increase its business ease ranking so that it can compete in attracting investment. Tax administration has an important role as one of the factors determining the ease of doing business according to the World Bank. The ease of paying taxes in Indonesia has continued to increase from time to time but is still lagging behind other countries. This study aims to analyze the efficiency of tax administration in relation to the ease of doing business in Indonesia; enrich the literature on tax administration efficiency policies; and provide recommendations for improvement of ease of doing business through efficiency of tax administration based on tax administration theory and relevant concepts of ease of doing business. This research uses a descriptive qualitative approach. The results showed that the ease of paying taxes in Indonesia is still low and there are three indicators that need to be improved, namely payment, time and filling index. The author recommends simplifying tax payment types, utilizing cashless payment methods through digital services and using Artificial Intelligence in making tax decisions.

scholarly journals Role of Actors and Factors for the Emergence of Contemporary Regime of Investor-State Dispute Settlement

2020 ◽  
Vol V (IV) ◽  
pp. 40-47
Author(s):  
Ali Nawaz Khan ◽  
Zaheer Iqbal Cheema ◽  
Jawwad Riaz
Keyword(s):  
Dispute Resolution ◽  
World Bank ◽  
Large Scale ◽  
Dispute Settlement ◽  
Fundamental Aspect ◽  
World Bank Group ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
Dispute Resolution Mechanism

Dispute resolution mechanism happened to be the fundamental aspect of the protectionist discourse of foreign investment. The consistent efforts were rolled out on behalf of international economic organizations such as UNO, OECD and IBRD of World Bank Group for the establishment of an impartial forum for the settlement of investment disputes. The opposite approaches of capital-exporting developed economies and less developed recipients of foreign capital lead certain attempts to failure to build consensus for dispute resolution mechanism relating to foreign investments. The World Bank started its effort for a specialized forum for investor-state dispute settlements in 1961. This effort remained successful in building consensus for exclusive jurisdiction for investment disputes. The members of the World Bank Group adopted the international convention on the settlement of investment disputes between states and nationals of other states, 1965, i.e. ICSID Convention. The paper has concluded that the efforts of international organizations and the large-scale recognition of the ICSID mechanism have ensured the legitimacy of the system.

Investment and Development Banks and Strategies in Turkey

2014 ◽  
pp. 131-140
Author(s):  
Ismail Erkan Celik ◽  
Hasan Dinçer ◽  
Ümit Hacioğlu
Keyword(s):  
World Bank ◽  
Industrial Development ◽  
International Investment ◽  
Investment Strategies ◽  
Development Bank ◽  
Investment Bank ◽  
Investment Projects ◽  
The World Bank ◽  
The World ◽  
Development Banks

The World Bank is the most important financier for international investment. The bank opens credits mostly for investment projects in developing countries. Turkey has received various investment credits since its membership to the World Bank on March 11, 1947. The credits were used for economic and social domains. Turkey has also been granted credits from the European Investment Bank (EIB). The credits received are composed of micro credits that belong to Small and Medium Enterprises (SMEs). A regional development bank, Islamic Development Bank, has also received credits through Eximbank and Industrial Development Bank of Turkey (TSKB) to finance Turkish SMEs. This chapter deals with Turkish investment strategies in the framework of basic principles of investment – development banks.

Investment and Development Banks and Strategies in Turkey

2014 ◽  
pp. 127-136
Author(s):  
Ismail Erkan Celik ◽  
Hasan Dinçer ◽  
Ümit Hacioğlu
Keyword(s):  
World Bank ◽  
Industrial Development ◽  
International Investment ◽  
Investment Strategies ◽  
Development Bank ◽  
Investment Bank ◽  
Investment Projects ◽  
The World Bank ◽  
The World ◽  
Development Banks

The World Bank is the most important financier for international investment. The bank opens credits mostly for investment projects in developing countries. Turkey has received various investment credits since its membership to the World Bank on March 11, 1947. The credits were used for economic and social domains. Turkey has also been granted credits from the European Investment Bank (EIB). The credits received are composed of micro credits that belong to Small and Medium Enterprises (SMEs). A regional development bank, Islamic Development Bank, has also received credits through Eximbank and Industrial Development Bank of Turkey (TSKB) to finance Turkish SMEs. This chapter deals with Turkish investment strategies in the framework of basic principles of investment – development banks.

Arbitral Institutions and the Enforcement of Climate Change Obligations for the Benefit of all Stakeholders: The Role of ICSID

2019 ◽  
Author(s):  
Wendy Miles ◽  
Merryl Lawry-White
Keyword(s):  
Climate Change ◽  
World Bank ◽  
Action Plan ◽  
Private Investment ◽  
International Investment ◽  
Paris Agreement ◽  
World Bank Group ◽  
The World Bank ◽  
The World ◽  
Bank Group

Abstract In 2015, States concluded the landmark Paris Agreement, which committed to a long-term goal of “holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels”. The Paris Agreement galvanises all signatory nations in a common cause — combating climate change and adapting to and investigating its effects, and with enhanced support to assist developing countries to do so. As such, it charts a new course in the global climate effort. The goals of the Paris Agreement will only be achieved through massive investment in pursuit of a common objective. According to the International Finance Corporation, an estimated US$90 trillion investment is required to implement the Paris Agreement. The current regime of international investment agreements (IIAs) provides an invaluable opportunity to promote the investment required to achieve the Paris Agreement objectives, including mitigation, adaptation and transition from fossil fuels. However, users must take care to ensure that investment is, in fact, protected and encouraged, and to maintain critical progress in promoting international climate change policy. ICSID is one of the five arms of the World Bank Group, which recognises that “[c]limate change is a threat to the core mission of the World Bank Group”. The ICSID Convention is also designed to promote international private investment. As such, ICSID sits at an important nexus in this discussion. This article: (i) provides an overview of several influential arbitration decisions relating to international environmental disputes, and the way in which the existing climate change regime uses arbitration as a dispute resolution mechanism; (ii) examines the evolution of investment treaties, prior decisions, especially in the field of renewable energy, and the tools available within IIAs for tribunals to promote the Paris Agreement objectives; (iii) discusses what arbitral institutions have done to date, in terms of tools, procedures, rules and other mechanisms, to promote climate change expertise and facilitate the resolution of disputes in a way that is consistent with climate change concerns; and (iv) considers ICSID's position as an arm of the World Bank, particularly in light of the WBG Climate Change Action Plan commitment to scaling up climate action and aligning internal processes with intentionally agreed climate change goals.

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