"Reconciling the demands of the UNESCO state obligations and providing " by Miguel Enrique R. Sandico

Reconciling the demands of the UNESCO state obligations and providing safeguards to foreign investors

Date of Publication

5-2017

Document Type

Master's Thesis

Degree Name

Juris Doctor

Subject Categories

International Law

College

College of Law

Department/Unit

Law

Thesis Adviser

Jocelyn P. Cruz

Defense Panel Chair

Antonio P. Jamon, Jr.

Defense Panel Member

Jack Andrew O. Miranda
Victoria V. Loanzon

Abstract/Summary

Considering that the Philippine Government is now pushing towards the growth of the tourism industry in order to expand the economy and provide for alternative forms of livelihood for the country’s citizens, it is imperative that foreign investment into the industry be welcomed and encouraged. In all likelihood, most investors would consider investing in or near heritage sites in order to take advantage of the influx of people to the heritage area, where business opportunities are plentiful. These opportunities for business would include: the construction and operation of tourist museums, information centers, campsites, restaurants, lodges and hotels near monuments and heritage sites. Troubles may come when a foreign investor, lured by a bilateral investment treaty with his own state and the Philippines, puts a significant amount of money into an investment within the vicinity of a heritage area and then the UNESCO subsequently declares this area as a World Heritage site. Upon declaration, the obligations of the State based on the World Heritage Convention come into play. Philippine investment laws do not provide a recourse for the investor when this situation arise. What would happen then to his interest, to his investment, in the site? How far would the bilateral investment treaty protect the foreign investor? With these realistic questions, there is truly a need to reconcile the relevant Philippine investment laws to comply with the international law, custom and state practice when it comes to foreign investment in order to provide recourse to the investor. It is only fair to provide the investor a recourse, having heavily relied on the promises and guarantees of the host State through the bilateral investment treaty. Truly, there is a need to legislate a clear and concrete remedy for the foreign investor who would happen to unfortunately come across this probable and yet legally possible situation, as his rights to fair and equitable treatment, most favored nation treatment, national treatment, full protection and security, would be prejudiced.

Abstract Format

html

Language

English

Format

Electronic

Accession Number

CDTG006954; TG06954

Shelf Location

Archives, The Learning Common's, 12F Henry Sy Sr. Hall

Keywords

Cultural property—Protection—Law and legislation--Philippines; Investments, Foreign—Law and legislation--Philippines

Upload Full Text

wf_no

Embargo Period

11-7-2024

This document is currently not available here.

Share

COinS