Over 3000 international investment agreements (IIA) currently operates through Bilateral investment treaties (BITs) and investment protection provisions of free trade agreements (FTAs). Investment agreements are concluded by the investor’s home country and the host country. Its aim is to protect the investor and investment made in the territory of the host country. By the nature of mixing public-private law, investment treaties usually have a wider implication for the domestic regulatory regime of host states. Notable examples
include trade, tax, intellectual property, renewable energy, environment and public health policies. How to balance investor’ rights and the host state’s right to regulate in public mattes has thus become a topical issue in investment relations.
On dispute settlement, foreign investor are given the direct rights to use international arbitration challenging the host state’s measures. The arbitral rules of the ICSID (International Centre for Settlement of Investment Disputes) and United Nations Commission International Trade Law Arbitration Rules (UNCITRAL) are the two rules which have been most commonly used. As practiced, the number of investor-State arbitration has mushroomed as hundreds of millions of dollars have been awarded as compensation remedies.
This semester will focus on the substantive disciplines of international investment law. (Investment arbitration will be taught in the next semester)

Tentative topics to be discussed follow.
(1) Overview of International Investment Law
(2) Definition on investors and investments
(3) Non-discrimination treatment: National Treatment; Most Favoured Nation
(4) Indirect expropriations and right to regulate
(5) Fair and equitable treatment
(6) Full protection and security/ umbrella clause
(7)Cross-cutting Issues in Investment Law – a Perspective on Sustainable Environment and Public Health