The Internationalization of State Contracts as Private International Investment Contracts- A Study of Causes and Mechanismse International Investment Contracts- A Study of Causes and Mechanisms-

Abstract

In today's rapidly accelerating era of globalization, certain types of administrative contracts have become a subject of considerable debate, particularly foreign investment contracts, which constitute an integral part of the legal relationships pertaining to economic interactions between states and/or individuals. These contracts play a pivotal role in attracting foreign investments and fostering national economic development, including in the context of Iraq, which is the focus of this study. Specifically, our research addresses the 'internationalization of state contracts,' which refers to the transformation of contracts concluded by the state with foreign investors into contracts governed by private international law. This transformation aims to establish a stable and secure investment environment, thereby attracting investments, and to safeguard the rights of foreign investors. Our research explores several key questions, including: What are the primary motivations that drive states to internationalize their contracts? What are the legal mechanisms employed to effectuate this internationalization? What factors influence the success of internationalization processes? Consequently, the significance of this study lies in its contribution to a deeper understanding of the increasingly pertinent phenomenon of contract internationalization and its implications for both law and economics. Furthermore, it offers valuable insights for policymakers and investors, provided that these insights are duly considered.