Understanding the Necessity Requirement in International Investment Arbitration: Balancing Interim Measures and Harm Standards (Published)
This paper examines the necessity requirement for interim measures in international investment arbitration, a critical yet contentious aspect of arbitration proceedings. The lack of uniformity in determining necessity, as illustrated by varying standards of irreparable harm and significant harm across different cases, complicates the issue of interim measures. Through a detailed analysis of key arbitration cases, this paper highlights the inconsistencies and challenges faced by tribunals in applying these standards. The study explores how the irreparable harm standard aligns with the exceptional nature of interim measures, while also critiquing its excessive stringency and potential for abuse. By contrasting this with the more flexible substantial harm standard, which enhances fairness but risks increasing the frequency of interim measure applications, the paper underscores the need for a balanced approach. It suggests that recognizing the limitations of monetary compensation and ensuring proportionality in interim measures can address the dilemma of necessity conditions, thereby improving the efficacy and fairness of international investment arbitration.
Keywords: Investment Law, necessity, provisional measure
The Assessment of Kurdistan Region’s Investment Law and Its Impacts on Foreign Direct Investment (Published)
The Kurdistan Region’s investment Law. No. (6) of 2006 was a great move by the government to attract foreign companies to invest their money in Kurdistan Region. Therefore, the side effects of investment law in Kurdistan is controversial. This study aimed to investigate the impacts of Investment Law on FDI in Kurdistan. It also intended to assess the importance of this law in developing different economic sector of the Region. The qualitative data was collected through face to face interview with experts and law professionals. The findings indicated that the Law becomes an important tool to attract foreign companies in the first place and hundreds of projects has been implemented which was difficult to be done without such laws. However, the study identified negative impacts of this law in the future. The law was found to be very less advantageous for the local populations and the government comparing to investors. The law has provided several incentives to the investors which might even pose national security issue in the future as investors are given loans and lands to make projects. The law has to be revised and amended as the KRG has already passed the first stage of investment and now needs mega projects and more benefits.
Keywords: Business Law, FDI, Investment Law, Kurdistan Region, Regulations.