International Investment Law Journal
Volume 3, Issue 2, July 2023

Table of Contents

• Contents
  

  
  

• Senior researcher PhD. Federica CRISTANI
  
  Abstract:

  Increased global digitalisation has brought both economic benefits as well as cybersecurity challenges; more and more companies around the world are becoming the target of cyberattacks. The consequences of cyberattack have ranged from money losses and information theft to infrastructure destabilization. Companies face different types of cyberattacks. In the last years, the most frequent (documented) cyber-threats have been: malware; phishing attacks; spam; denial of service; ransomware; insider threat; data breaches; information leakage; cryptojacking and cyber espionage. In the context of investment protection, cyberattacks may have different targets: data on foreign investments and/or foreign investors that are available in digital forms (including trade secrets) and data related to investment arbitration. While the consequences of cyberattacks are clear, less clear is how to deal this problem at the international (and European) regulatory level. This paper deals with the question of how foreign investment can be secured from cyberattacks within the investment law framework, both at the international and the European law levels. The focus is on which international and European actors are involved in cybersecurity and investment protection policies; the aim is to design a ‘map of relevant actors’ – by using the social network analysis method – and highlight the relevant relationships.
  Keywords:cybersecurity, foreign investment, European Union, cyber-attacks.
  JEL Classification:K22, K24, K33
  1. Designing a Governance System for Cybersecurity of Foreign Investment in Europe
      Page 102
  
  
• Researcher PhD. Cristina Elena POPA TACHE
  
  Abstract:

  The EU Digital Services Act followed by the European Declaration on Digital Rights and Principles for the Digital Decade 2023/C 23/01/PUB/2023/89 delivered the latest updates marked by some specific principles, rights and obligations. It enshrines the principle that what is illegal offline must also be illegal online. Political agreement on this regulation was reached on 23 April 2022 between the European Parliament and EU Member States, and the final text of the document was published on 27 October 2022, with the DSA entering into force in November 2022, and the provisions applying mainly from 17 February 2024 (Article 93). For this article we used a research method directly connected to the current of constructivism in the evolution and propagation of international norms. The importance of understanding reality consists in the empirical approach based on the collection and analysis of relevant data to reach conclusions and generalizations based on objective and verifiable evidence based on primary and secondary sources.
  Keywords:digitalization, principles, human rights, international digital investment.
  JEL Classification:K33, K38, L86, O30, Z10
  2. About the Human Rights and Consumer Protection in the Digital Age of Digital Services Act 2022 or What Aspects Interested Investors Should Pay Attention To
      Page 121
  
  
• Professor Ľubica BAJZÍKOVÁ; Professor Daniela NOVÁČKOVÁ; JUDr. Jana VNUKOVÁ
  
  Abstract:

  One of the current key priorities is the definition of rules for a more sustainable and fair globalization, where investments and trade play an important role. The current economic environment faces challenges that involve the need to promote social justice and environmental sustainability. The economic reality in Slovakia entails appropriate measures taken, including a stable macroeconomic policy, a non-discriminatory approach to commercial companies and prudent supervision of the investment activities of investors. A part of these measures taken in Slovakia include granting investors the status of "significant investment in the public interest" and the implementation of the regulation of the European Union on the screening of foreign direct investment into the Union. The benefit of this scientific study both for the theory and practice is the analysis of EU legal acts that have an impact on the development of investment relations and on the formation of a common investment policy within the European economic area.
  Keywords: investment relations, screening of foreign investment, legal act.
  JEL Classification:F15, F21, K22, K33
  3. Significant Investment and Screening of Foreign Investment in Slovakia
      Page 133
  
  
• Lecturer Manole Decebal BOGDAN
  
  Abstract:

  Trade through information and communication technology, production of goods, services made with the help of programs and computers are certainties and normality’s of social behavior. Services assisted by artificial intelligence no longer surprise users, individuals, and representatives of private and public law persons, becoming social and economic normality. We believe that legal relations in the digital economy must be reconsidered. The legal subjects are, in this case, software producers, traders, users of robots and/or bots, as well as beneficiaries of virtual services. The law of the digital economy is a reality in legal relations. Authorities must regulate these complex legal relationships based on legal rights and responsibilities. Digitization sometimes makes the economy work without knowing the physical location, the fiscal domicile of the operators, having only an address on the website that is or is not under national or interstate authorities. Also, parallel monetary flows are created that benefit only from the protection of "confidence in the system" and do not benefit from accredited public monetary authorities. In this whole process, the new regulations have an increased potential to bring specific protections to international investments. The research methods used are scientific documentation, observation of the phenomenon and the differences between the subjects and the object of law in the classical economy compared to the digital economy. The results of the study will constitute a basis for reflection for the authorities, for the business environment and researchers in the field of law. Starting from this study, proposals can be created to amend the current legislation. The implications of the study are a completion and revision of civil law, commercial law, criminal law and tax law with the elements determined by digital technologies that serve the acts and facts that generate liabilities. The persons who handle the digitized instructions can also be held responsible for the execution of acts and facts in the digital economy.
  Keywords: artificial intelligence law, the law of the digital economy, civil law.
  JEL Classification:K13, K24, K33
  4. The Law of the Digital Economy a Reality for Legal Relations in the Future - New International Investment Protection
      Page 146
  
  

• Associate professor Maria João MIMOSO
  

  Abstract:

  The topic we propose to address aims to analyze the possible impacts of “new technologies”, especially artificial intelligence (AI), in the context of international commercial arbitration. International disputes often involve complex issues of fact and law, entailing high costs with arbitrators, lawyers, translators and witness travel. International arbitration is often criticized for the lack of transparency of arbitrators, given the inaccessibility of evidence and hearings, and also the lack of speed of the arbitration process regarding the volume of documentation to be analyzed. New technologies, such as data analysis and AI, thus constitute an important tool, both for the analysis of those complex issues, and also for minimizing costs and accelerating the process, namely, allowing remote hearings to be held and automated analysis of documents. In short, the handicaps of international arbitration can be overcome with the use of new technologies, which will lead to greater efficiency, transparency and fairness in the international dispute resolution process. We will analyze the stages of the arbitration process, from the constitution of the court to the sentence delivery, using the deductive method, seeking to demonstrate how (IA) can maximize the arbitral “iter”, contributing to a greater ethics of this alternative means of litigation resolution.
  Keywords: international arbitration; foreign investment; celerity; efficiency; artificial intelligence; transparency.
  JEL Classification:K22, K33, K41
  5. Artificial Intelligence in International Commercial and Investment Arbitration
      Page 156
  
  
• Student Waratchaya CHAIWUT
  
  Abstract:

  The first appearance of cryptocurrency in Thailand was only occurred in a small community and not widely famous among a financial transaction. In 2018 – at the present, Thai people advert a cryptocurrency as a trade and other financial transactions, however, these crypto investments are encountered a large number of commercial issues and principal agencies under Thai government use legal measures or make regulations to intervene and control them. Some of legal measure are problematic to stimulate the digital economic growth under the crypto industry and development of financial platforms. Objectives of the study are presentation of advantages and disadvantages of Thai legal measures to control crypto industries in commerce and methodologies for qualitative research are data collection via laws, policies, and legal cases in Thailand. As results of studies, the early direction of laws and policies from Thai government agencies attempted to prevent customers for crypto trades and company business, these agencies have begun to improve lenient legal approaches.
  Keywords: cryptocurrency; business law; legal measures; commercial law; investment law.
  JEL Classification:K22, K24
  6. The Growth of Cryptocurrency Investments under Thai Government through Legal Measures
      Page 167
  
  
• Candidate of law sciences Pavlo SELEZEN
  
  Abstract:

  The article is dedicated to the identification of the issues related to competent authorities that might impact the efficiency and effectiveness of mutual agreement procedure (MAP) as a tax treaty-related mechanism in Ukraine. In this context, the author applies comparative method based on the provisions of the OECD Model Tax Convention on Income and on Capital (2017) as the primary method but also analyses the impact of the domestic law on the scope of powers and the functions of the competent authorities. There are three issues related to competent authorities that are considered by the author and might have negative impact on MAP as dispute resolution mechanism: (i) the uncertainty of option of delegation of powers of competent authority from the STS of Ukraine to the MoF of Ukraine; (ii) the ambiguity related to the impact of mutual agreements of competent authorities on the activity of other executive bodies of power at the domestic level; (iii) the absence of opportunity of competent authorities to initiate specific case MAP in case of the issuance by the MoF of Ukraine of the general tax consultations before their provisions are resulted in the actions of the tax authorities of Ukraine.
  Keywords: double taxation treaties, mutual agreement procedure, competent authorities, dispute resolution, administrative cooperation.
  JEL Classification:K34
  7. Competent Authorities of Ukraine in the Context of Mutual Agreement Procedure under Double Taxation Treaties
      Page 174