Abstract:
A number of international investment agreements restrict the use of international arbitration for specific types of disputes between foreign investors and host states. Some countries, notably China, only accept arbitral jurisdiction for disputes related to quantum for expropriation. The article analyses the latest arbitral award interpreting and applying such provision in the AsiaPhos and Norwest v. China case in 2023 and compares it with other arbitral decisions on similar provisions. The study reveals that arbitral tribunals adopt two distinct approaches to their jurisdiction in this regard and highlights the challenges for investors and host states, including Vietnam, when participating in international investment dispute resolution.
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