National legislation is no alternative Sample Clauses

National legislation is no alternative. Many developed and developing countries have been undergoing a rapid and profound process of policy liberalisation. The process has affected fiscal, monetary, financial, infrastructural, trade and other policies (Xxxxxx and Xxxxx, 1997). The process has made both outward and inward FDI more attractive but the legal provisions underlying this process are not sufficient. In fact, the absence of an international agreement can have serious consequences for FDI flows. First, foreign investors need a legal protection to do business. Without such a protection, the risk of doing business in a foreign country may be so excessive that they decide not to invest. Moreover, the cost of compliance may be too high, resulting in investment that would typically be highly speculative and short term. Second, national legislation is often not sufficient to provide adequate security to foreign investors. National laws and their enforcement may differ between the host and home country requiring, in the very least, an international mechanism for dispute settlement. Therefore, the Governments should adopt an international agreement like MAI.
Sample 1
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