Replanteamiento de las leyes nacionales de inversión

The document examines national investment laws as versatile policy instruments, tracing their shift from national development tools (1950-1979) to mechanisms for incorporating international treaty standards (1980-2010). It identifies seven primary functions of contemporary investment laws: regulating admission, administering incentives, facilitating investment, providing legal protection, managing disputes, specifying investor obligations, and supervising investments. The report argues against a 'one-size-fits-all' model, suggesting instead that laws be designed based on a country's specific policy objectives and regulatory capacity. It provides a detailed framework for policymakers to evaluate existing laws and design new ones, emphasizing the need to reduce legal risks associated with investor-state dispute settlement (ISDS) and inefficient tax incentives.

• National investment laws have evolved through three distinct phases: early laws (1950-1979) were driven by national development goals; laws from 1980-2010 focused on incorporating international standards and treaty protections; and current trends show a renewed interest in diversifying these laws to address modern challenges.
• The report identifies seven primary functions of contemporary investment laws: regulating admission and approval of new foreign investments, granting and administering investment incentives, investment facilitation, guaranteeing legal protection, establishing investor-state dispute management systems, specifying investor obligations, and controlling/supervising foreign investment.
• A study of 70 investment laws reveals that at least 60% address the admission of new investments, approximately 70% provide legal protections, and nearly 70% expressly address dispute resolution.
• Tax incentives are present in at least 80% of the reviewed investment laws, but the report warns that they often risk depleting public funds without effectively increasing investment.
• The report highlights that 'negative list' approaches for investment admission are becoming more popular than 'positive list' approaches, as they can increase transparency by consolidating restrictions into a single instrument.
• Certain legal protections, such as 'fair and equitable treatment' (FET) and stabilization clauses, are rare in national laws (FET appears in less than 10%) but pose significant legal and financial risks when combined with international arbitration.
• The report strongly advises against granting 'advance consent' to international arbitration (ISDS) within national investment laws due to the high legal and financial risks it creates for the state.
• Case studies demonstrate that investment laws are shaped by specific national contexts: China uses its law for national economic reform; Myanmar used its 2016 law to signal a regime shift toward openness; Australia uses its law to maintain public support for openness via a 'national interest' test; and South Africa uses its law as a partial substitute for old bilateral investment treaties.

APA

Bonnitcha, J., Nikiéma, S. H., & John, T. S. (2023). Replanteamiento de las leyes nacionales de inversión. International Institute for Sustainable Development. https://www.iisd.org/system/files/2026-05/rethinking-national-investment-laws-es.pdf

Chicago

Bonnitcha, Jonathan, Suzy H. Nikiéma, and Taylor St John. Replanteamiento de las leyes nacionales de inversión. International Institute for Sustainable Development, 2023. https://www.iisd.org/system/files/2026-05/rethinking-national-investment-laws-es.pdf.

Wikipedia

{{cite report |last1=Bonnitcha |first1=Jonathan |last2=Nikiéma |first2=Suzy H. |last3=John |first3=Taylor St |title=Replanteamiento de las leyes nacionales de inversión |publisher=International Institute for Sustainable Development |date=July 2023 |url=https://www.iisd.org/system/files/2026-05/rethinking-national-investment-laws-es.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{bonnitcha2023replanteamiento, author = {Bonnitcha, Jonathan and Nikiéma, Suzy H. and John, Taylor St}, title = {{Replanteamiento de las leyes nacionales de inversión}}, institution = {International Institute for Sustainable Development}, year = {2023}, month = jul, url = {https://www.iisd.org/system/files/2026-05/rethinking-national-investment-laws-es.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }