AN EMPIRICAL STUDY OF REFORM PROPOSALS IN THE PERSPECTIVE OF INVESTOR-STATE DISPUTE SETTLEMENT

The momentum for the reforms to resolve the challenges of the investor-state dispute settlement system today is essential. The investor-state dispute settlement system clauses in International Investment Agreement show the importance of the above mechanism. However, with the increase in investor-state dispute settlement system claims, discussions about the benefits of investor-state dispute settlement system mechanisms have also been recognized, particularly in states where investor-state dispute settlement system is based on the framework of International Investment Agreement talks. Now investor-state dispute settlement system reforms are central, which must execute in a balanced approach and contemplate the concerns of stakeholders with a rational and logical approach. This study is an empirical review of the investor-state dispute settlement system, based on disputes under existing investment treaties. This article presents some feasible recommendations for reform. It recommends that to attain a reformist balance amid the interests of disputing parties. Reform proposals must be firmly implemented, using a multilateral framework that includes investor-state dispute settlement system mechanisms and judicial procedures.