PROTECTION OF PRIVATE INVESTMENT BY THE ICSID

This article is aimed at investigating and analyzing the legal mechanism of the International Centre for Settlement of Investment Disputes created to protect foreign private investment at the present stage of development of international private law. Established as an impartial international body for the settlement of investment disputes between investor and state, the ICSID's primary objective is to create the necessary conditions for conciliation and arbitration of disputes between the parties. A foreign private investor who is interested in the fastest and most impartial resolution of the dispute sees the way in the transfer of the dispute to the competent authority, which would be completely independent of the state that received the investment. The International Centre for Settlement of Investment Disputes has become such a body in the system of international commercial arbitration.