International Legal Framework for Foreign Investment Protection: An Analysis of Tanzania Treaty Practice

Mwampaghale, William Timoth (2017) International Legal Framework for Foreign Investment Protection: An Analysis of Tanzania Treaty Practice. Masters thesis, The Open University of Tanzania.

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Abstract

Most states of the world and among them Tanzania sought to create appropriate legal frameworks to attract foreign investments. The conclusion of Bilateral Investment Treaties (BITs), Multilateral Treaties (MITs), Regional Treaties and the enactment of National investment legislation are the main instrument to achieve the aforementioned objective. State’s entry into these investment treaties and ratifications of conventions into domestic legislations makes the protection mechanisms part of their legal framework. Their importance resides precisely in establishing a favorable climate for foreign investments by contributing to legal certainty for foreign investors. The study analyses the treaties concluded by Tanzania with the objective of establishing the investment treaty practice of the country. In so doing, the study examines whether Tanzania treaty practice conforms or differs from general investment law. The study also demonstrates the extent to which Tanzania’s treaty provisions restrain legitimate right to regulate and suggests how the country can contribute to the further development of international investment law and legislation options to improve treaty negotiating in the country. The study also argues that the present treaty practice of Tanzania suggests that the trend is toward a more cautious and better-informed approach to investment treaty making with narrower and more precise drafting of particular provisions, and specificity in treaty language to reduce the risk of unexpected interpretations by arbitral tribunals.

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