ABSTRACT
This chapter explores an alternative approach in the regulation of Foreign direct investment, called "regulated openness". It discusses the structure of the rules both at the international and national levels, and the content of the rules at the international level. The chapter covers the process of negotiating the international agreement, venue, and implementation of the rules. The granting of National Treatment to foreign investors is a great worry for many developing countries and non-governmental organisations. One of the problems in reaching agreement on global investment lies in the detailed nature of the draft agreement. Under regulated openness, this issue are covered by the following six core principles: Sustainable development, Investment security, Core Labour standards, Consumer Protection and Business Ethics, Good governance, and Effective dispute settlement. The good governance still does not have a universally accepted meaning. It addresses the quality of government covering social policy, democracy, transparency, creation of a market friendly environment, combating corruption, and human rights.
