Legal Framework on Protection of Foreign Investors vis-a`-vis Legitimate Expectation of Host Government: A Lesson from DP World Agreement
This paper examines the validity of the principle of legitimate expectation of the host government in protection of foreign investors, to safeguard protection of host government expectations and interest of all citizens in the host government towards their natural from only benefiting the investors from developed economies which are sometimes supported by their home countries and the mechanism set forward under international law.
The author is establishing a core argument that, despite the reality that the principles of customary international law form the basis of investment agreements specifically hereunder in natural resources development; are not conveyed to benefit host government as the owner, rich in natural resources were investment is carried through.
This argument is tangible. Considering the Investment Agreements concluded by the government of Tanzania. Further, it is in support of the evidence collected from qualitative research technique from such particular agreements.
This paper contributes to the understanding and awareness to the other literary works and previous debates amongst advanced economy nations and the emerging ones in dealing with natural resources expansion which has been based on minerals and gases to ensure legitimate expectation of the host government in investment is adhered in its wide sense. As a result, it resumes debates in different areas of Tanzania; to scholars, religious leaders, officials in public and private sector and the entire public at large on the following aspects; hosts government are conscious about their natural resources as their communal heritage which does not need authorization over maximum enjoyment from anyone. Therefore, the majority citizens deserve supreme enjoyment and benefits from its development. Further, host governments to exercise their legitimate expectation in every investment agreement which these government concludes with foreign investors and it should first in place before anything else. Lastly but not least, there should be in place a conducive legal frame work providing for the legitimate expectation of the host government resource rich countries, developing African countries in particular to adopt adequate legal framework which does have significant impact to the country economies and ensure improvements in the living conditions of the people.in the host government
Keywords: Principles of Customary International Law, Natural Resources Development, and Natural Resources are the Common Heritage of the People, Adequate Legal Framework.
