Yesterday the head of the Office for the Promotion of Foreign Investment in the DR (OPI), Eddy Mart?nez, announced that the DR will soon sign two important treaties regarding the resolution of investment disputes. One, the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, requires signatories to enforce international arbitral awards, subject to very limited exceptions. and the Inter-American Convention on the Enforcement of Arbitral Awards. The other is the treaty creating the International Center for the Settlement of Investment Disputes (ICSID), an affiliate of the World Bank that arbitrates government-investor disputes. Mart?nez said that the measure is yet another taken by this Administration to assure foreign investors that their rights are well-protected in the DR. Signing and ratifying these treaties has long been sought by the American Chamber of Commerce in the DR as a reassuring signal to foreign investors uncertain about the legal protection for their investments in the DR courts.
