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Home Angola

Angola adheres to the ICSID Convention

Duarte Marques da Cruz by Duarte Marques da Cruz
September 14, 2021
in Africa, Angola, Cooperation, Legal
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Through Resolution no. 63/21, of 1 September, Angola adhered to the Convention for the Settlement of Disputes arising from Foreign Investment (ICSID), also known as the Washington Convention.

The ICSID Convention entered into force in 1966 and aims to promote investment and globalization by allowing investors to benefit from a neutral, fast, and efficient means of alternative dispute resolution that allows for the definitive resolution of any disputes that may arise between the State and investors.

Also read: Angola approves an Excise Duty Law

The adhesion of the ICSID Convention and the recent ratification of the New York Convention on the Recognition and Enforcement of Foreign Arbitral awards are big steps in the foreign investment attraction policies that Angola has been implementing, thus guaranteeing an increasingly stable and secure investment environment in the country.

Following the adhesion, Angola must regulate the form in which access to the ICSID Convention jurisdiction is provided since Angola has three alternatives to consent:

– In the Bilateral Investment Treaties;

– Directly through the national investment law;

– In the investment contracts to be entered into with foreign investors.

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Tags: AngolaAngola adheres to the ICSID ConventionBilateral Investment TreatiesDuarte Marques da CruzFeatureForeign Investmentforeign investorsICSID ConventionMC&Anational investment lawNew York Convention on the Recognition and Enforcement of Foreign Arbitralанголаأنغولاアンゴラ安哥拉
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Duarte Marques da Cruz

Duarte Marques da Cruz

Duarte Marques da Cruz is partner of the Portuguese law firm MC&A, specialized in international business advisory, with a special focus in Lusophone markets. With extensive experience in the Energy sector (Renewables and Oil & Gas) and in International Taxation, he has supported international companies in major upstream, midstream transactions and projects, including in implementing, exploration and development programs. Duarte has also supported international clients in other areas of practice, namely, Mining, Transport & Logistics, Regulatory Compliance and Mergers & Acquisitions in Mozambique, Angola and Portugal.

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