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The government has decided to cancel bi-lateral investment treaties with several countries because they interfere with its transformation agenda. It plans to replace this with the Promotion and Protection of Investment Bill, now open for public comment, which aims to curtial potential claims from foreign investors. 
The keenly awaited Promotion and Protection of Investment Bill, which will replace a raft of bilateral investment treaties designed to protect foreign investors, was published in the Government Gazette on Friday, confirming fears that investors’ rights will be diminished.
South Africa recently annulled bi-lateral trade agreements with several European countries, causing disquiet among our trading partners. The new Promotion and Protection of Investment Bill, which is yet to come before the public for comment, is supposed to create a level trading field. But in the hands of the communists at our Trade ministry, anything is possible.The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.
