A New Investment Deal in Asia and Africa: Land Leases to Foreign Investors

Abstract

This paper explores the potential international investment consequences of the recent boom in long-term land leases (25 years or more) offered by national governments in Asia and Africa to private, foreign agribusinesses. The paper explores the implications of umbrella clauses in bilateral investment treaties, stabilization clauses, and the lack of performance standards to regulate for potential environmental and labor impacts caused by the long-term land leases. The paper argues for the need for States offering leases to ensure protection of national public interests in healthy environmental and labor conditions while also honoring their investment law commitments.