Keywords
investments
sovereignty
How to Cite
Abstract
The purpose of this paper is to provide a brief historical overview of Investment Law in Brazil and its regional partners in the Southern Cone, with a view to contextualizing the creation of the new Mercosur Investment Facilitation and Cooperation Protocol (PCFI), enacted in the Brazilian legal system by Decree No. 10,027 of September 25, 2019. As a result of the new regional model of the Investment Cooperation and Facilitation Agreement (ACFI), the PCFI differs in several aspects from the draft bilateral investment treaties (BITs), which focus on investor protection rather than primarily on the development of the foreign country. Thus, this brief article will first analyze the evolution of Investment Law in the context of Brazil and Mercosur, emphasizing the main regulatory changes in the issue of opening to foreign capital. Next, the main innovations and characteristics of the new PCFI of Mercosur will be outlined, destined solely for intra-zone investments.
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