Salini Kararı Kapsamında ICSID Konvansiyonunda "Yatırım" Kavramının Tanımlanması

The Convention on the Settlement of Investment Disputes between States and Nationals of Other States (‘‘ICSID Convention’’ or ‘‘Convention’’) plays a key role in the settlement of international investment disputes. ICSID, established by the Convention, has become a forum for the settlement of investment disputes between Contracting States and nationals of other Contracting States. The concept of ‘‘investment’’ is taken as a basis in determining the ratione materiae (in terms of subject matter) jurisdiction of the Centre. The concept of investment, which arises from Article 25 of the Convention and determines the jurisdiction of the Centre, is not objectively defined by the Contracting States. In order for a dispute to be brought before the Centre, in addition to the necessity of a ‘legal dispute arising directly from an investment’, the consent of the contracting states is also one of the main requirements. The concept of investment is not objectively defined in the text of the Convention. It appears that no conscious attempt has been made to define the concept of investment. In this respect, the parties have the opportunity to pre-select the …

Keywords: investment law, international arbitration, investment disputes, concept of investment, ICSID, Salini Decision, international investment treaties.…