In an interview with Oxford Business Group last year, Surin Pitsuwan, then ASEAN Secretary General, highlighted the commitment of agreements on international best practices and called the agreement a “courageous initiative.” 28 “Highlights of the ASEAN Comprehensive Investment Agreement (ACIA)”, presented at the 40th ASEAN Economic Ministers` Meeting (26 August 2008), online: at 4+at+4>Google Scholar. 100 Articles 1 and 2 of the Charter of the Association of Southeast Asian Nations (“ASEAN Charter”), signed by the Heads of State and Government on 20 November 2007, online: . To benefit from the CFIA, an investment must be made either by a natural person (national, citizen or permanent resident) of an ASEAN country, or by a legal person established in ASEAN that meets the requirements set by the CFIA. Investments made by a recognized legal entity are the way in which investors outside ASEAN can benefit from the protection afforded by the CFIA. Under the CFIA, the investment also includes amounts generated by investments, including profits, interest, capital gains, dividends, royalties and royalties. Any change in the form in which assets are invested or reinvested shall not affect their classification as an investment. when an asset does not have the characteristics of an investment: capital retention, profit maintenance or risk-taking; it is not considered an investment in any form under the CFIA. 12. April – The ASEAN Comprehensive Investment Agreement (CFIA) entered into force on 29 March 2012 and aims to create a free and open investment environment by consolidating and expanding existing agreements among ASEAN member countries.
Compensation must be fully achievable and transferable between ASEAN member States and correspond to fair value at the time of the announcement or date of expropriation. Expropriation is only permitted if it takes place for public purposes and is not discriminatory….