The Protection of Satellite Telecommunications Activities Under Bilateral Investment Treaties

Telecommunications activities are based on the use of the satellite segment which represents the largest sector in the space industry, generating revenues of hundreds of billions of dollars annually and constantly growing. The article seeks to answer the question of whether investments made for the realization of telecommunications activities can enjoy protection under bilateral investment treaties (BITs) by taking into consideration the scope of financial contributions involved, the significant duration of a telecommunications project from planning to operating a satellite in outer space, and the generally inevitable involvement of more than one national legislation for the implementation of the activity. Through investigating the cross-sections and pitch points between international space law and investment law and looking at all phases of satellite-based telecommunications projects, the article demonstrates that investment law can be applied to space activities and that BITs may provide favorable protection standards for investors.