Tutela degli investimenti esteri e rilancio dell’economia italiana

This article discusses the legal framework applicable to the protection of in-bound and out-bound investments in Italy under the perspective of the relaunch of the Italian economy. Such framework is significantly impacted by EU policies and rules, which have created a double regime applicable, respectively, to infra-EU and extra-EU investments. In particular, pending possible (and necessary) reforms, infra-EU investment treaties (BITs) are ousted by EU institutions and rules, thus relegating the protection of infra-EU investments to EU rules and to domestic courts. As a result, extra-EU investments, which are generally protected by more traditional investment treaties and allow resort to international investment arbitration (also subject to possible significant reform) presently enjoy (or are perceived to enjoy) a more efficient protection as compared to infra-EU investments.