Legal certainty and foreign investment in Africa: let's call the African Union
This article studies the role of the African Union (AU) as an instrument for providing legal certainty to foreign investors in the African continent. Africa has failed to attract foreign investment since the business environment and market conditions do not even appeal to national investors. One of...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universidad Santo Tomás (USTA)
2010
|
| Subjects: | |
| Online Access: | http://dialnet.unirioja.es/servlet/oaiart?codigo=3626747 |
| Source: | Via Inveniendi et Iudicandi, ISSN 1909-0528, Nº. 11, 2010 |
| Tags: |
Add Tag
No Tags: Be the first to tag this record
|
| id |
dialnet-ar-18-ART0000401270
|
|---|---|
| record_format |
dialnet
|
| institution |
Dialnet
|
| collection |
Dialnet AR
|
| source |
Via Inveniendi et Iudicandi, ISSN 1909-0528, Nº. 11, 2010
|
| language |
English
|
| topic |
African Union
foreign investors legal certainty and institutional structure of Unión Africana Inversionistas extranjeros certeza legal y estructura institucional de la Unión Africana |
| spellingShingle |
African Union
foreign investors legal certainty and institutional structure of Unión Africana Inversionistas extranjeros certeza legal y estructura institucional de la Unión Africana Rodriguez Yong, Camilo Andres Legal certainty and foreign investment in Africa: let's call the African Union |
| description |
This article studies the role of the African Union (AU) as an instrument for providing legal
certainty to foreign investors in the African continent. Africa has failed to attract foreign
investment since the business environment and market conditions do not even appeal to
national investors. One of the biggest problems contributing to this situation is a low level of
legal certainty which makes it too risky for foreign investors to invest in the region. Therefore,
the development and adoption of policies and actions aimed at the provision of a higher level of
legal certainty is necessary. This article precisely proposes the usage of the AU as an
instrument to achieve this goal. This regional integrationist experience groups several elements
that can positively contribute to the provision of legal certainty to foreign investors. For instance,
it has an institutional structure that allows its institutions to work coordinately in the adoption of
policies and laws, which makes possible the development and adoption of coherent and stable
laws and policies. Likewise, the AU�s structure allows the exchange of opinions, ideas, and
experiences between African governments and foreign investors during the decision-making
process by means of an institution such as ECOSOCC and the private sector Forum. This
communication promotes transparency and predictability to foreign investors for the
development of their economic activities. In addition, AU also has the power to create legal
instruments that serve to regulate the activity of foreign investors, limiting the power of the host
country to interfere in the investment, and promote the progress and respect of matters such as
the rule of law, transparency and good governance in the continent. Moreover, the AU has its
own judicial body that works to enforce the AU legal instruments and guarantees their fulfillment
by member countries.
|
| format |
Article
|
| author |
Rodriguez Yong, Camilo Andres
|
| author_facet |
Rodriguez Yong, Camilo Andres
|
| author_sort |
Rodriguez Yong, Camilo Andres
|
| title |
Legal certainty and foreign investment in Africa: let's call the African Union
|
| title_short |
Legal certainty and foreign investment in Africa: let's call the African Union
|
| title_full |
Legal certainty and foreign investment in Africa: let's call the African Union
|
| title_fullStr |
Legal certainty and foreign investment in Africa: let's call the African Union
|
| title_full_unstemmed |
Legal certainty and foreign investment in Africa: let's call the African Union
|
| title_sort |
legal certainty and foreign investment in africa: let's call the african union
|
| publisher |
Universidad Santo Tomás (USTA)
|
| publishDate |
2010
|
| url |
http://dialnet.unirioja.es/servlet/oaiart?codigo=3626747
|
| _version_ |
1709709749530918912
|
| spelling |
dialnet-ar-18-ART00004012702016-04-13Legal certainty and foreign investment in Africa: let's call the African UnionRodriguez Yong, Camilo AndresAfrican Unionforeign investorslegal certainty and institutional structure ofUnión AfricanaInversionistas extranjeroscerteza legal y estructura institucional de la Unión AfricanaThis article studies the role of the African Union (AU) as an instrument for providing legal certainty to foreign investors in the African continent. Africa has failed to attract foreign investment since the business environment and market conditions do not even appeal to national investors. One of the biggest problems contributing to this situation is a low level of legal certainty which makes it too risky for foreign investors to invest in the region. Therefore, the development and adoption of policies and actions aimed at the provision of a higher level of legal certainty is necessary. This article precisely proposes the usage of the AU as an instrument to achieve this goal. This regional integrationist experience groups several elements that can positively contribute to the provision of legal certainty to foreign investors. For instance, it has an institutional structure that allows its institutions to work coordinately in the adoption of policies and laws, which makes possible the development and adoption of coherent and stable laws and policies. Likewise, the AU�s structure allows the exchange of opinions, ideas, and experiences between African governments and foreign investors during the decision-making process by means of an institution such as ECOSOCC and the private sector Forum. This communication promotes transparency and predictability to foreign investors for the development of their economic activities. In addition, AU also has the power to create legal instruments that serve to regulate the activity of foreign investors, limiting the power of the host country to interfere in the investment, and promote the progress and respect of matters such as the rule of law, transparency and good governance in the continent. Moreover, the AU has its own judicial body that works to enforce the AU legal instruments and guarantees their fulfillment by member countries.Este artículo estudia el papel de la Unión Africana (UA) como un instrumento para proveer certeza legal a inversionistas extranjeros en el continente africano. África ha fallado en atraer inversión extranjera ya que le ambiente de negocios y las condiciones del mercado ni siquiera atraen a los inversionistas nacionales. Uno de los problemas más grandes que contribuyen a esta situación es un bajo nivel de certeza legal que hace muy riesgoso para los inversionistas extranjeros el invertir en la región. Por ende, el desarrollo y la adopción de políticas y acciones apuntando a la provisión de un nivel más alto de certeza legal es necesario. Este artículo propone precisamente el uso de la UA como un instrumento para conseguir este objetivo. Esta experiencia integracionista regional agrupa varios elementos que pueden contribuir posiblemente a la provisión de certeza legal a los inversionistas extranjeros. Por ejemplo, tiene una estructura institucional que permite a sus instituciones trabajar coordinadamente en la adopción de políticas y leyes, que hacen posible el desarrollo y la adopción de leyes y políticas coherentes y estables. Del mismo modo, la estructura de la UA permite el intercambio de opiniones, ideas y experiencias entre los gobiernos africanos e inversionistas extranjeros durante el foro de decisión. Esta comunicación promueve la transparencia y previsibilidad a los inversionistas extranjeros para el desarrollo de sus actividades económicas. En adición, la UA también tiene el poder de crea instrumentos legales que sirvan para regular la actividad de los inversionistas extranjeros, limitando el poder del país huésped para interferir en la inversión, y promover el progreso y respeto de aspectos como la ley, la transparencia y la buena gobernanza en el continente. Aún más, la UA tiene su propia institución judicial que trabaja para hacer disponibles los instrumentos legales de la UA y garantizar su cumplimiento por los países miembros.Universidad Santo Tomás (USTA)2010text (article)application/pdfhttp://dialnet.unirioja.es/servlet/oaiart?codigo=3626747(Revista) ISSN 1909-0528Via Inveniendi et Iudicandi, ISSN 1909-0528, Nº. 11, 2010engLICENCIA DE USO: Los documentos a texto completo incluidos en Dialnet son de acceso libre y propiedad de sus autores y/o editores. Por tanto, cualquier acto de reproducción, distribución, comunicación pública y/o transformación total o parcial requiere el consentimiento expreso y escrito de aquéllos. Cualquier enlace al texto completo de estos documentos deberá hacerse a través de la URL oficial de éstos en Dialnet. Más información: http://dialnet.unirioja.es/info/derechosOAI | INTELLECTUAL PROPERTY RIGHTS STATEMENT: Full text documents hosted by Dialnet are protected by copyright and/or related rights. This digital object is accessible without charge, but its use is subject to the licensing conditions set by its authors or editors. Unless expressly stated otherwise in the licensing conditions, you are free to linking, browsing, printing and making a copy for your own personal purposes. All other acts of reproduction and communication to the public are subject to the licensing conditions expressed by editors and authors and require consent from them. Any link to this document should be made using its official URL in Dialnet. More info: http://dialnet.unirioja.es/info/derechosOAI
|