IN JULY 2010, the Cabinet approved a range of measures to update and modernise South Africa’s investment policy framework in line with international law standards.This occurred against a changing international backdrop that saw fundamental changes to investment regimes and coincided with urgent international calls from both civil society and government circles for the reform of international investment treaties, their underlying policy frameworks, and the legal frameworks for adjudication and enforcement of investment agreements.South Africa’s recently released Investment Promotion and Protection Bill responds to this dynamic and provides broad guarantees to all investors.There are various perceptions that the draft bill falls short of acceptable international standards.This is not so.The draft bill, released for public comment in November, specifies that all foreign investors are protected irrespective of whether a bilateral investment treaty (BIT) exists between their home country...
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