The Legal System Of Arbitration As a Name Of Setting Foreign Investment Disputes in Iraqi and Kurdistan Region legislation

A COMPARATIVE LEGAL STUDY

Abstract

Is a theme of foreign direct investment and indirect interest of the world, especially developing countries, and the growing interest in recent issue of investment in Iraq and the region being one of the countries aspiring to attract foreign investment, especially in the natural resources sector, having changed relatively Look uncertainty towards foreign investors, both of by the state or its citizens.

Although mutual cooperation between the state invested and investors to identify those rights and obligations in terms of scope or content of the contract between the parties, but it might get a conflict between the two parties in the exact content of the rights enjoyed by the investor and the obligations due to breach of one of the parties, whether the investor or the state.

So investors seek for effective safeguards for the Settlement of Investment Disputes, and despite the multiplicity of tools that can be resorted to parties in the contracts for the settlement of investment disputes arising there from , But arbitration is an acceptable way to resolve investment disputes where it is an effective way to resolve investment disputes where he became the normal judiciary in this area because longer an effective guarantee for investors to resolve their disputes with the state for attracting investment because they see to spend those last look doubt and suspicion , In addition secret advantage of arbitration, which are commensurate with the nature of the investment contracts it is in line with the desire of investors to stay away from resorting to eliminate the State's national invested and this is what helps keep the secrets of investors and avoid compromising their status and reputation in the field of commercial activity as well as the speed at which characterizes arbitration in deciding chapter in the conflict, as well as that is resorting to arbitration because of its investment contracts from the privacy of the fact that the State attracting investment party in those contracts and that's what the motive for the investor to make the arbitration procedural safeguard for the protection of investments.

So we will address the concept of arbitration and the extent of taking the Iraqi legislature in the investment law to this way of resolving investment disputes and touching to the position of the law the province of which compared with some of the laws, and through two sections separated allocated first to the concept of investment and second to resolve investment disputes (arbitration) model