Study On Amicus Curiae In International Investment Arbitration

Since the1980s, foreign direct investment plays an important role in the country’s economic development due to the accelerated pace of international private capital. Although international investment gradually is accepted in many countries, frequent investment disputes between investors and host countries is inevitable. Thus the International Investment Arbitration is mounting nowadays. However, some arbitral tribunal favored the protection of the interests of investors rather than the public interests, resulting in serious violations to the public interest. Recent years witnessed the increasing trend of the transparency in the international investment dispute arbitration procedures and a growing number of third parties as amicus curiae in international investment arbitration, even though the rules governing them were limited and not regulated. Despite the participation of amicus in international investment arbitration is a general trend, the debate on the pros and cons of "amicus curiae" participation is still very intense. In order to safeguard the public interest to maintain an appropriate balance in international investment arbitration, we should change the current situation and establish a guideline for the "amicus curiae" participation.