HANOI LAW UNIVERSITY

FACULTY OF INTERNATIONAL TRADE AND BUSINESS LAW

COURSE OUTLINE

INTERNATIONAL
INVESTMENT LAW
(FOR HLU INTERNAL USE ONLY)

HANOI - 2020

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 FACULTY OF INTERNATIONAL TRADE AND BUSINESS LAW
DEPARTMENT OF MULTILATERAL TRADE AND INTERNATIONAL
INVESTMENT LAW

COURSE OUTLINE
INTERNATIONAL INVESTMENT LAW
2020

I. COURSE INFORMATION

Degree: Bachelor of Laws

Course: International Investment Law (Elective

Course)

Semester/Academic
I/2020-2021
Year:

Number of credits: 02

Lecture hours: 10 credit hours

Seminar hours: 10 credit hours

Team work hours: 5 credit hours

Self-study hours: 5 credit hours

Pre-requisite(s): Commercial Law 1 (CNBB12)

Commercial Law 2 (CNBB13)
Public International Law (CNBB17)

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II. LECTURERS INFORMATION

N Name Title Email

o

1. Ngo Trong Quan LL.M. ngotrongquancbg@gmail.com

04.37731787

2. Nguyen Ba Binh Assoc.Prof. nguyenbabinh@hotmail.com

04.37731787

3. Nguyen Thi Anh LL.M. nguyenanhtho0102@yahoo.co

Tho m
04.37731787

4. Nguyen Mai Linh LL.M. mailinhnguyen110@gmail.co

m
04.37731787

5. Trinh Hai Yen Ph.D pltmdpdtqt@gmail.com

04.37731787

6. Lai Thi Van Anh LL.M. pltmdpdtqt@gmail.com

04.37731787
7. Nguyen Thi Nhung LL.M. pltmdpdtqt@gmail.com
04.37731787
8. Dinh Anh Tuyet LL.M. pltmdpdtqt@gmail.com
04.37731787
9. Nguyen Huu Phu LL.M. pltmdpdtqt@gmail.com
04.37731787
10. Vo Le Nam LL.M. pltmdpdtqt@gmail.com
04.37731787

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III. COURSE DESCRIPTION
International investment law has been emerging as a distinct and dynamic
field of international law. The course on International Investment Law
provides the basic knowledge of the legal system governing investment
liberalization, investment protection, the institutional, economic and
political influence on international investment. This course aims to
introduce students to the standards of treatment of foreign investments and
resolution of foreign investment disputes. The main topics in the course
include:
1) Overview of International Investment and International Investment Law
2) Fundamental Principles of International Investment Law
3) Viet Nam and International Investment Law
IV. LEARNING OBJECTIVES
This course aims at introducing students to the core principles of
international investment law and investment dispute settlement mechanism.
Students are encouraged to reflect on the economic activity of foreign
direct investment in its political and social context. Upon completion of the
course, students will be able to:
- Develop their knowledge of the historical context, sources and
fundamental principles of international investment law;
- Understand and interpret the international investment law texts, especially
investment treaties and investment disputes;
- Get familiar with the investor-state dispute settlement mechanism (ISDS)
and international investment jurisprudence;

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- Understand the policies and legal framework in Vietnam regulating
international investment relations;
- Apply knowledge learned such as the principles of Most Favoured Nation
(MFN), National Treatment (NT), Fair and Equitable Treatment (FET),
Full Protection and Security (FPS), Protection against Expropriation
(Takings), Investor-State Dispute Settlement (ISDS) and Vietnamese Law
Regulating International Investment Relations to explain the specific
situations in relationships between foreign investors and host states.

V. CONTENTS OF THE COURSE

Issue 1. Overview of International Investment and International
Investment Law
1.1. Globalization and International Investment
1.2. Historical Development of International Investment Law
1.3. Defining the Scope of Investment Treaties
1.4. Sources of International Investment Law
Issue 2. Fundamental Principles of International Investment Law

2.1. Most Favoured Nation (MFN)

2.2. National Treatment (NT)
2.3. Fair and Equitable Treatment (FET)
2.4. Full Protection and Security (FPS)
2.5. Protection against Unlawful Expropriation (Takings)
2.6. Investor-State Dispute Settlement (ISDS)
2.7. Umbrella Clause and Other Principles of Investment Protection
2.8. Exceptions to the Principles of International Investment Law

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Issue 3. Viet Nam and International Investment Law
3.1. International Commitments of Vietnam Regarding Investment
3.2. Vietnamese Law Regulating International Investment Relations
3.3. Vietnam’s Investor-State Dispute Settlement (ISDS)
VI. DETAILED OBJECTIVES

Objective
Level 1 Level 2 Level 3
Issue

1. 1A1. Introducing 1B1. Analysing the 1C1. Giving

Overview the history of reasons that comments on
of economic investment treaties the the ways
Internati globalization and have come to play a investors can
onal international dominant role in protect their
Investme investment. investment rights in the
nt and 1A2. Presenting protection. host countries.
Internati the historical 1B2. Analysing the 1C2. Giving
onal development of concept of political comments on
Investme international risk insurance as an the current
nt Law investment law. alternative or a features of

1A3. Listing supplement to treaty treaty practice

sources of protection and and arbitral

international dispute settlement. practice in

investment law. 1B3. Analysing the international

1A4. Listing scope of a particular investment law.

different aspects in investment treaty in

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 the scope of terms of covered
investment investor and covered
treaties. investment.

2. 2A1. Identifying 2B1. Analysing the 2C1. Assessing

Fundame the components of interpretations of the importance
ntal the most favoured MFN by investment of the like
Principle nation (MFN) tribunals. circumstance
s of principle. 2B2. Analysing the requirement and
Internati 2A2. Identifying interpretations of relevance of
onal the components of NT by investment WTO
Investme the national tribunals. jurisprudence.
nt Law treatment (NT) 2B3. Analysing the 2C2. Giving
principle. interpretation of comments on
2A3. Identifying FET in investment the impact of
the elements of disputes fair and
fair and equitable 2B4. Analysing the equitable
treatment (FET) application of FPS treatment
investment principle
principle. on
in
investment
2A4. Presenting disputes.
the scope of full 2B5. Distinguishing liberalization.
protection and lawful and unlawful, 2C3.
security (FPS) direct and indirect Comparing the
standard. fair and
expropriation.
2A5. Presenting 2B6. Analysing the equitable
treatment
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the content of advantages and standard with
protection of disadvantages of the full
foreign investors investor-state protection and
against unlawful arbitration. security
expropriation. 2B7. Analysing the standard.
2A6. Presenting advantages and 2C4. Giving
the methods of disadvantages of comments on
resolving investor- diplomatic recent
state disputes. protection. developments
2A7. Presenting 2B8. Analysing and limitations
the content of criticisms against of investment
other principles of ISDS. arbitration.
investment 2C5. Assessing
protection the role of
(umbrella clause, exceptions in
transfer of funds, protecting
movement of regulatory space
natural persons, of host states.
performance 2C6. Evaluating
requirements). the pros and
2A8. Presenting cons of an
exceptions of the appellate review
basic principles of mechanism in
international investment
investment law. arbitration
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 3. 3A1. Presenting 3B1. Analysing the 3C1. Giving
Viet Nam the WTO, FTA content of comments on
and and BIT investment treaties the Vietnam’s
Internati commitments of of Vietnam commitments in
onal Vietnam regarding 3B2. Analysing recent
Investme international Vietnamese law investment
nt Law investment regulating treaties or
3A2. Presenting international investment
the Vietnamese investment relations. chapters of free
legal system 3B3. Analysing the trade
regulating major differences agreements
between traditional (CPTPP
international and
investment and new generation EVIPA).
relations investment treaties 3C2. Giving
3A3. Presenting of Vietnam comments on
the coordination the practice of
process of ISDS in Vietnam’s
Vietnam ISDS.
3C3. Giving
comments on
the new
investor-state
dispute
settlement
mechanism in
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 EVIPA.

VII. SYNTHESIS OF THE DETAILED OBJECTIVES

Objectives Level 1 Level 2 Level 3 Total

Issue

Issue 1 4 3 2 9

Issue 2 8 8 6 22

Issue 3 3 3 3 9

Total 15 14 11 40

VIII. READING MATERIALS

Compulsory Readings
Hanoi Law University, Textbook on International Investment Law, Youth
Publishing House, Hanoi, 2017 (This Bilingual Textbook was published
within the framework of the EU-MUTRAP Project and can be downloaded
at http://pltmqt.hlu.edu.vn/SubNews/Details/17088).
Optional Readings
* Books
1. Andrew Newcombe, LLuis Paradell, Law and Practice of Investment
Treaties: Standards of Treatment, Kluwer Law International, 2009.
2. Jurgen Kurtz, The WTO and International Investment Law: Converging
Systems, Cambridge University Press, 2016.
3. M. Sornarajah, The International Law on Foreign Investment,
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 Cambridge University Press, Third Edition, 2010.
4. Marie-Claire Cordonier Segger, Markus W. Gehring, Andrew
Newcombe, Sustainable Development in World Investment Law, Kluwer
Law International, 2011.
5. Mavluda Sattorova, The Impact of Investment Treaty Law on Host
States: Enabling Good Governance, Hart Publishing, 2018.
6. Peter Muchlinski, Federico Ortino, and Christoph Schreuer, The Oxford
Handbook of International Investment Law, Oxford University Press,
2008.
7. Surya P. Subedi, International Investment Law - Reconciling Policy
and Principle, Hart Publishing, Third Edition, 2016.
8. Thomas Cottier and Krista Nadakavukaren Schefer, Elgar Encyclopedia
of International Economic Law, Edward Elgar Publishing, 2017.
* Legal texts and reports

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1. The ICSID Convention 1965.
2. The New York Convention 1958.
3. The ASEAN Comprehensive Investment Agreement (ACIA) 2009.
4. The North American Free Trade Agreement (NAFTA) 1994.
5. The European Union – Vietnam Investment Protection Agreement
(IPA) 2019.
6. The Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CPTPP) 2018.
7. The Vienna Convention on the Law of Treaties (VCLT) 1969.
8. International Law Commission Draft Articles on Responsibility of
States for Internationally Wrongful Acts 2001.
9. 2012 US Model Bilateral Investment Treaty,
https://2009-2017.state.gov/documents/organization/188371.pdf
10. Decision No. 14/2020/QD-TTg dated 08 April 2020 on Promulgation of
Regulation on Coordination in Resolution of International Investment
Disputes.
11. WTO, Report of the Working Party on the Accession of Viet Nam and
Viet Nam’s WTO Commitments,
https://www.wto.org/english/thewto_e/acc_e/a1_vietnam_e.htm
12. WTO, Trade Policy Review: Viet Nam,
https://www.wto.org/english/tratop_e/tpr_e/tp387_e.htm
13. UNCTAD, UNCTAD Series on Issues in International Investment
Agreements I/II
https://unctad.org/en/Pages/Publications/Series.aspx

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14. UNCTAD, Investment Policy Review: Vietnam, 2008,
https://unctad.org/en/pages/PublicationArchive.aspx?
publicationid=521
15. OECD, OECD Investment Policy Reviews: Vietnam 2018,
https://aanzfta.asean.org/uploads/2018/12/OECD-Investment-Policy-
Review-Viet-Nam-2018.pdf
16. OECD, OECD Investment Policy Reviews: Southeast Asia, 2018,
https://www.oecd.org/daf/inv/investment-policy/Southeast-Asia-
Investment-Policy-Review-2019.pdf
17. World Bank, 2019 Investment Policy and Regulatory Review – Vietnam,
https://openknowledge.worldbank.org/bitstream/handle/10986/33598/
Vietnam-2019-Investment-Policy-and-Regulatory-Review.pdf?
sequence=1&isAllowed=y
18. ASEAN Secretariat, ASEAN Comprehensive Investment Agreement
(ACIA) – A Guidebook for Businesses and Investors, 2013,
http://aadcp2.org/asean-comprehensive-investment-agreement-a-
guidebook-for-businesses-and-investors/
19. Other International Investment Agreements

* Websites
1. UNCTAD, https://investmentpolicy.unctad.org/
2. UNCITRAL, http://www.uncitral.org
3. ICSID, http://icsid.worldbank.org
4. WTO, http://www.wto.org
5. USTR, http://www.ustr.gov
6. EU, https://ec.europa.eu/trade/
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7. WTO Center, http://www.trungtamwto.vn/
8. https://www.italaw.com/
9. http://www.investment-law-digest.com/
10. https://www.iisd.org/itn/
11. https://moj.gov.vn/Pages/home.aspx

IX. TEACHING AND LEARNING METHODS/APPROACHES

- A combination of different teaching and learning methods, including:

Lecture; Socrates; Case Method; Workshop; Teamwork Presentation; and
Others.
- Students are required to read the materials before attending class and to
participate actively in class discussion.

X. COURSE SCHEDULE AND TEACHING PLAN

1. COURSE SCHEDULE

Total of
Team Self-
Week Issue Lecture Seminar Assignment credit
work study
hours

Receiving
1 1 2 (4) (2) (3) Assignment 6
s
2 2 2 (4) (2) (3) 6
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 3 2 2 (4) (2) (3) 6
Submitting
4 2 2 (4) (2) (3) Teamwork 6
Assignment
Submitting
5 3 2 (4) (2) (3) Semester 6
Assignment
10 20 10 15
sessions sessions sessions sessions
Total of
credit 10 10 5 5 30
hours

2. TEACHING PLAN
WEEK 1 – ISSUE 1

Credit Requirements for

Format Main contents
hours preparation

Lecture 2 - Introduction of the - Reading the Course

credit Course Outline
hours - Overview of - Reading:
International + Hanoi Law University,
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 Textbook on International
Investment and
Investment Law, Youth
International
Publishing House, Hanoi,
Investment Law
2017, Chapter One.

- Reading Textbook and

1 credit Scope of Invesment
Seminar 1 lecture notes
hour Treaties
- Questions given by lecturer

Sources of - Reading Textbook and

1 credit
Seminar 2 International lecture notes
hour
Invesment Law - Questions given by lecturer

- Formation of teams - Reading the materials and

- Discussion of the teamwork assignments
1 credit
Teamwork teamwork - Outlining the discussion
hour
assignments and contents
allocation of tasks - Reviewing the lecture notes

Relationship
1 credit between sources of - Reading the materials and
Self-study
hour International cases cited in textbook
Investment Law

- Scope: To give professional advice on the methods of

studying; tutoring on searching and reading references;
other questions related to the course.
Consultation
- Time: From 10:20 to 11:50 Monday every week.
- Venue: Faculty of International Trade and Business Law,
Room A307.

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WEEK 2 – ISSUE 2

Credit Requirements for

Format Main contents
hours preparation

Fundamental
- Reading:
Principles of
International + Hanoi Law University,
2 Investment Law Textbook on
Lecture credit International Investment
+ Most-Favored
hours Law, Youth Publishing
Nation (MFN)
House, Hanoi, 2017,
+ National Treatment
Chapter Two and Three.
(NT)

- Reading Textbook and

Discussion about Most-
1 credit lecture notes
Seminar 1 Favored Nation
hour - Questions given by
Treatment Principle
lecturer

- Reading Textbook and

Discussion about
1 credit lecture notes
Seminar 2 National Treatment
hour - Questions given by
Principle
lecturer

- Reading the materials

- Discussion of and cases
1 credit teamwork assignment - Outlining the discussion
Teamwork
hour - Discussion of the contents
lecture content - Reviewing the lecture
notes

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 + The application of
MFN and NT Principles
in investment dispute
- Reading the materials
1 credit practices (cases)
Self-study and cases cited in
hour + Umbrella Clause and
textbook
Other Principles of
International
Investment Law

- Scope: To give professional advice on the methods of

studying; tutoring on searching and reading references;
other questions related to the course.
Consultation
- Time: From 10:20 to 11:50 Monday every week.
- Venue: Faculty of International Trade and Business Law,
Room A307.

WEEK 3 – ISSUE 2

Credit Requirements for

Format Main contents
hours preparation

Lecture 2 Fundamental Principles - Reading:

credit of International + Hanoi Law
hours Investment Law University, Textbook

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 + Fair and Equitable
on International
Treatment (FET) and
Investment Law, Youth
Full Protection and
Publishing House,
Security (FPS)
Hanoi, 2017, Chapter
+ Protection against
Four and Five.
Unlawful Expropriation

- Reading Textbook and

1 credit Discussion about FET lecture notes
Seminar 1
hour and FPS - Questions given by
lecturer

- Reading Textbook and

1 credit Discussion about lecture notes
Seminar 2
hour Expropriation - Questions given by
lecturer

- Reading the materials

- Discussion of teamwork and cases
1 credit assignment - Outlining the
Teamwork
hour - Discussion of the discussion contents
lecture content - Reviewing the lecture
notes

Self-study 1 credit + Interpretation of FET, - Reading the materials

hour FPS and expropriation in and cases cited in
investment dispute textbook
settlement (cases)
+ Exceptions to the
Principles of
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 International Investment
Law

- Scope: To give professional advice on the methods of

studying; tutoring on searching and reading references;
other questions related to the course.
Consultation
- Time: From 10:20 to 11:50 Monday every week.
- Venue: Faculty of International Trade and Business Law,
Room A307.

WEEK 4 – ISSUE 2

Credit Requirements for

Format Main contents
hours preparation

Fundamental - Reading:
Principles of + Hanoi Law University,
2 International Textbook on
Lecture credit Investment Law International Investment
hours + Investor-State Law, Youth Publishing
Dispute Settlement House, Hanoi, 2017,
(ISDS) Mechanism Chapter Six

Seminar 1 1 credit Discussion about: - Reading Textbook and

hour + Methods of Investor- lecture notes
State Dispute - Questions given by
Settlement lecturer
+ Jurisdictional Issues
in Investment

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 Arbitration

Discussion about
- Reading Textbook and
Procedural Issues in
1 credit lecture notes
Seminar 2 Investment Arbitration
hour - Questions given by
* Submitting
lecturer
Teamwork Assignment

- Reading the materials

- Discussion of and cases
1 credit teamwork assignment - Outlining the discussion
Teamwork
hour - Discussion of the contents
lecture - Reviewing the lecture
notes

- Procedural aspects of
ISDS (cases) - Reading the materials
1 credit
Self-study - Other Principles of and cases cited in
hour
International textbook
Investment Law

- Scope: To give professional advice on the methods of

studying; tutoring on searching and reading references;
other questions related to the course.
Consultation
- Time: From 10:20 to 11:50 Monday every week.
- Venue: Faculty of International Trade and Business Law,
Room A307.
WEEK 5 – ISSUE 3

Format Credit Main contents Requirements for

21
 hours preparation

Vietnam and - Reading:

International Investment + Hanoi Law
Law: University, Textbook
2 + International on International
Lecture credit Commitments of Investment Law,
hours Vietnam regarding Youth Publishing
Investment House, Hanoi, 2017,
+ Vietnam’s ISDS Chapter Ten and
Coordination Mechanism Twelve

Discussion about:
+ Recent Investment - Reading Textbook and
1 credit Treaties of Vietnam (E.g. lecture notes
Seminar 1
hour EVIPA, CPTPP) - Questions given by
+ Vietnam’s ISDS lecturer
Coordination Mechanism

Presentation of Teamwork - Reading Textbook and

1 credit Assignment lecture notes
Seminar 2
hour Submitting Semester - Questions given by
Assignment lecturer

Teamwork 1 credit - Discussion of teamwork - Reading the materials

hour assignment and cases
- Discussion of the lecture - Outlining the
discussion contents
- Reviewing the lecture

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 notes

Vietnamese Law
1 credit - Reading the materials
Self-study Regulating International
hour in textbook
Investment Relations

- Scope: To give professional advice on the methods of

studying; tutoring on searching and reading references;
other questions related to the course.
Consultation
- Time: From 10:20 to 11:50 Monday every week.
- Venue: Faculty of International Trade and Business Law,
Room A307.

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XI. ASSESSMENT

Type of Weight Requirements

No
assignment

1. - Form: Attendance and In-class

Participation 10%
Contribution
- Form: 3-5 page Essay (Appendix
01 Teamwork
excluded, if any, every two extra pages
2. Assignment
15% will be subtracted 01 point).
and Oral
- Content: Questions relating to the
Presentation
knowledge of whole course.
- Form: 3-5 page Essay (Appendix
excluded, if any, every two extra pages
3. 01 Semester
15% will be subtracted 01 point).
Assignment
- Content: Questions relating to the
knowledge of whole course.
4. Final Exam 60% - Form: Multiple-Choice Test

Total 100%

XII. OTHER REQUIREMENTS

- Plagiarism in any forms will result in FAIL for the related academic work.
- Cheating on any exam also results in FAIL to the student who commits
the cheating and to the person who allows others to copy his/her work.
- No excuses for the ignorance of the guidelines for academic works set by
Hanoi Law University.

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