Sustainable Development Provisions in ASEAN Investment Treaties

Quan Ngo Trong ()
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Quan Ngo Trong: Hanoi Law University

A chapter in Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, 2023, pp 343-358 from Springer

Abstract: Abstract Investment treaties have traditionally been criticized for being ineffective in addressing sustainable development issues because of their focus on investment protection. In light of the increasing adverse effects of foreign direct investment on social and environmental issues of the host states, international organizations and states have adopted initiatives to reform the investment treaty system, making it more compatible with sustainable development goals. As a dynamic capital-importing region, ASEAN has been adapting its treaty-making agenda to achieve a better balance between investment protection and protection of general public interests. This paper takes stock of provisions addressing sustainable development in ASEAN’s investment treaties. The scope of the survey is limited to treaties signed between ASEAN and partner countries, which does not cover bilateral and multilateral treaties by individual member states. It argues that while the quantity of such clauses is modest, they are innovative from treaty drafting perspectives. ASEAN’s investment treaties have consistently reinforced the right of host states to regulate for sustainability. In that way, unsustainable foreign investment into the region may not enjoy treaty protection and benefit from investor-state dispute settlement mechanism.

Keywords: Investment treaties; Sustainable development; ASEAN (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-0490-7_21

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DOI: 10.1007/978-981-99-0490-7_21

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