PRESSR: The Ministry of Finance hosts experts to discuss “Arbitration in Foreign Investment Disputes”
Dubai - United Arab Emirates : The Ministry of Finance, in cooperation with the International Center for Settlement of Investment Disputes (ICSID) , held a round table on “Arbitration in Foreign Investment Disputes,” which addresses the issues facing countries, government officials, and investors in their relationships related to local and international investments, and the disputes that arise from them. .
Participating in the event were Thuraya Hamed Al Hashemi, Director of the Department of International Financial Relations and Organizations at the Ministry of Finance, Hussam Al Talhouni, Legal Advisor to His Excellency the Minister of Finance, Natalie Sequeira, Senior Advisor and Team Leader at the International Center for Settlement of Investment Disputes, Tariq Riad, Director of Tariq Riad & Partners Law Firm and Legal Consultations, and His Excellency the Judge. Shamlan Abdul Rahman Ahmed Al-Sawalhi, Judge of Appeal at the Court of Appeal at the Dubai International Financial Center Courts, and Karim Nassif, Director at Nassif Arbitration Company, in addition to a group of experts from the government and private sectors in the field of resolving investment disputes through arbitration.
In their meeting, the experts discussed the disputes that arise between countries that host investments and investors who hold the nationality of a foreign country, whether they are natural or legal persons, and what the state and public government figures must take into account when signing internal, bilateral and international agreements that include aspects of investment and dispute resolution provisions. Discussing the definition of procedures and how to initiate a request for arbitration procedures, its types, its location, and ways to compare between mediation, conciliation, or arbitration options.
The participants discussed determining the types of investments to which international agreements are applicable requiring resort to arbitration through specialized centers, the cases in which arbitration is resorted to in accordance with the rules of the law and the supervision of the local judiciary, the means of implementing the rulings issued, and other important details for countries, investors and experts. The sessions that touched on these topics were followed by in-depth discussions in which attendees from all participating parties participated.
It is noteworthy that the UAE joined the membership of the International Center for Settlement of Investment Disputes in 1993 pursuant to Federal Decree No. 43 of 1993, due to the Center’s position as a leading international institution for settling disputes related to international investment issues.
#Government data
-I finish-
About the Ministry of Finance
The Ministry of Finance was established in the United Arab Emirates as a sovereign ministry pursuant to Federal Decree No. (2) of 1971 to assume responsibility for implementing all financial policies related to economic development in the country, primarily preparing and allocating the federal budget, managing the financial situation of the government, and providing services to the government sector, individuals, And the business sector. His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of the Emirate of Dubai and Deputy Prime Minister, holds the position of Minister of Finance, where His Highness supervises the management of the state’s economic and financial interests. His Excellency Mohammed bin Hadi Al Husseini holds the position of Minister of State for Financial Affairs and seeks to achieve the strategic objectives of the Ministry .
The Ministry of Finance bases its work on a realistic and ambitious strategic plan to perform all tasks and services in accordance with international best practices, and aims to achieve six main strategic objectives that include enhancing the financial planning of the federal government and the sustainability of public finances, raising the efficiency and effectiveness of budget implementation, managing the financial position and cash flows of the federal government, and supervising. The state's financial and economic interests at the international level must enhance the state's competitiveness in the financial and economic field, ensure the provision of all administrative services in accordance with standards of quality, efficiency and transparency, and establish a culture of innovation in the institutional work environment .
The Ministry of Finance includes five main sectors, including the government budget and revenue sector, the tax legislation sector, the government financial management sector, the international financial relations sector, and the support services sector. It also includes the Public Debt Management Office, the General Budget Committee, the Government Policy Coordination Council, and the Reorganization Office. Financial .
Tasneem Hegazy
APCO International Company
Email : thijazi@apcoworldwide.com
© Press Release 2023
Disclaimer regarding the content of press releases
The content of these press releases is provided by an external provider. We do not accept any responsibility or have permission to control such content. This content is provided on an 'as is' and 'as available' basis and has not been edited in any way. Neither we nor our affiliates will be responsible for ensuring the accuracy, endorsement or completeness of the opinions, views, information or materials contained in such content.
Press releases are provided for informational purposes only; The content does not suggest any advice on legal, investment or tax aspects or any opinions on the suitability, value or profitability of any particular portfolio or investment strategy. Neither we nor our affiliates will be liable for any errors or inaccuracies in the Content, or for any actions you take in reliance on that Content. You expressly agree and acknowledge that you bear full responsibility for the use of the information contained in these press releases.
To the extent permitted by applicable law, Refinitiv, its parent, subsidiaries, affiliates, and their respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors (collectively the “Refinitiv Parties”) will have no liability (either jointly or individually) to you. For any direct, indirect, consequential, special, incidental, punitive or exemplary damages; This includes, but is not limited to: loss of profits, loss of savings or revenue, whether due to negligence, tort, contract or other theories of liability, even if the Refinitiv Parties have been advised of the possibility of any such damages and losses or could have foreseen them. Actually happening.
ZAWYA 2023 ©