THE “FET” PROTECTION PROVIDED FOR FOREIGN INVESTMENT UNDER INTERNATIONAL INVESTMENT LAW AND THE CONTENTS OF ETHIOPIAN BIT’s
CHAPTER TWO THE “FET” PROTECTION PROVIDED FOR FOREIGN INVESTMENT UNDER INTERNATIONAL INVESTMENT LAW AND THE CONTENTS OF ETHIOPIAN BIT’s 2.1 Introduction BIT’s (BITs) are investment agreements that are entered into by two sovereign states in a way that is not detrimental or injurious to investments by investors from the other contracting State. They are regarded as a means of drumming up investor confidence by signaling that the legal and political structures are not injurious to foreign investors and investments, thus providing a welcoming climate for FDI. 60 The development of BIT’s was primarily a response to the fears and insufficiencies of the customary international law of state responsibility for injuries to foreigners and their property. 61 Further, the developed states required to obtain better market access assurance from developing states for their investors and to obtain advanced development in the standards of investment protection. 62 The fir...