Abstract

The internationalization of investment by State-owned enterprises is driving the evolution of foreign investment regulation throughout the Western world. National security lies at the heart of host State concerns, yet the contours of the concept remain indistinct. Consequently, State-owned enterprises are subject to differential legal standards that can be vague and ambiguous. This article considers whether, and under what circumstances, host State security measures targeting State-owned enterprises comply with obligations under investment treaties. Provision for pre-establishment national treatment and security exceptions will be crucial in balancing the autonomy afforded to host States to protect their national security, and guarding State-owned enterprises against protectionist or discriminatory measures.

中文翻译：

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国有企业与投资条约对国家安全的威胁

摘要

国有企业投资的国际化正在推动整个西方世界的外国投资法规的发展。国家安全是东道国关注的核心，但这一概念的轮廓仍然不清楚。因此，国有企业受制于含糊不清的模棱两可的法律标准。本文考虑了针对国有企业的东道国安全措施是否以及在何种情况下遵守投资条约规定的义务。建立平衡前国民待遇和安全例外的规定对于平衡为东道国提供的保护其国家安全的自主权，以及保护国有企业免受贸易保护主义或歧视性措施的影响至关重要。