AN ACCOUNT ON THE LEGITIMACY OF FUNDAMENTAL PRINCIPLES OF CUSTOMARY INTERNATIONAL LAW IN NATURAL RESOURCES DEVELOPMENT IN GROWING HOST ECONOMIES: A LESSON FROM TANZANIA
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https://doi.org/10.55662/IJLDAI.2022.8111Abstract
This paper examines the legitimacy of the basics of fundamental principles of customary international law (also referred in this paper as standards of protection of investment), to ensure equitable sharing of benefits in the investment conducts of natural resources between investors from developed economies (sometimes supported by their home countries) and resource rich developing economies. The main argument which the author ascertains is the verity that, despite the fact that principles of customary international law form the basis of investment agreements more often in natural resources development; they do not carry weight to facilitate resource rich developing countries to benefit. This argument is sound. It is supported by evidence collected from qualitative research technique; especially from the Mineral Development Agreements (MDAs) concluded by the government of Tanzania.
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