Author
Prof Chen-Yu Wang
Organisation/Institution
National Taipei University, College of Law
Country
TAIWAN (ROC)
Panel
International Investment Law
Title
Comparative Laws on Foreign Investment Review Mechanism in ASEAN Region
Abstract
Foreign Direct Investment (FDI) is a popular index for evaluating the liberalization of trade and economic as well as national competitiveness of a country. Resulting from the effects of establishing the multilateral rules and regional economic integration in the modern world, opening the domestic market and encouraging foreign investment become the most important trade policy for various countries. However, although foreign investment increases the economic growth of home country, it may causes the negative effects for domestic industry at the same time. Especially in case of cross-border merger & acquisition, it brings more and more concerns from the home country. Recently, most critical international agreements as well as international economic organizations are silence on the consistence regulatory of “cross-border investment review process”, and it makes more autonomy for every country to conduct her own foreign investment review mechanism. ASEAN is the third large labor market and 7th economic entity in the world. The rapid economic growth in ASEAN is the spotlight around the international community. According to the statistics made by ASEAN Secretariat in 2024, the FDI in ASEAN region is 12.3% (after 16.3% in the U.S.A.), ranked the top 2nd around the world during 2023 to 2024. This paper selects 6 countries as the case studies, they are Singapore, Malaysia, Vietnam, Philippine, Thailand, Indonesia etc. Among those selected countries, Singapore, Malaysia and Vietnam both participate in CPTPP as well as RCEP members. Under comparative legal method, this article examines the regulations of “Foreign Investment Review Mechanism” under above 6 selected ASEAN countries. This paper also explores how certain countries balancing between “liberalization of foreign investment” and “protection of national security”. In the end, this paper provides conclusion and suggestion for various policy makers improving economic, FDI and trade relationship between intra-ASEAN and South Asia countries.
Biography
Blake C.Y. Wang currently works as Professor at College of Law and also former Vice Dean of School of Law as well as Chair of Department of Law at National Taipei University (NTPU) in Taiwan. In Practice, Prof. Wang is appointed as a Legal Advisor of the Office of Trade Negotiations (OTN) at Ministry of Economic Affairs. In academic, he appointed as Secretary General of Chinese (Taiwan) Society of International Law (CSIL). He graduated from Washington College of Law at American University with both LL.M. and S.J.D. degree, and also worked as a visiting researcher at Harvard Law School (2005-2006), and visiting scholar at Lauterpacht Center for International Law at University of Cambridge. His research interests include International Economic Law, International Trade Negotiation, WTO and International Investment Law. Prof. Wang currently joins the International Law Association (ILA) study group of “due diligence in international law”. Professor Wang published “Regional Trade Agreements: Theory, Practice, and Development” in 2009; "Digital Trade Law and Policy" in 2022; Translated "Principles of Public International Law (James Crawford)" in 2024, and more than 50 journal articles regarding RTA/FTA, Trade Remedy Laws, and WTO-related issues in both Chinese and English.
