LEGAL ANALYSIS OF THE PERMANENT INTERNATIONAL INVESTMENT COURT AND ITS ROLE IN ESTABLISHING CONSISTENCY UNDER INTERNATIONAL INVESTMENT LAW

The importance of Foreign Direct Investment in our international economic system cannot be overstated. Nevertheless, due to a perceived absence of arbitrator autonomy and a growing quantity of conflicting and contradictory investment resolutions, the current investment arbitral system's legitimacy is presently getting questioned, resulting in a disassembled organization of International Investment Law. Hence, the current investment system's risk increases investor protection or state liability's unpredictability, reducing Foreign Direct Investment' flows. Furthermore, some states have refused to participate in investor-state arbitration altogether due to the significant arbitration decisions against some. This article seeks to examine the legal analysis and the possibility of establishing a Permanent International Investment Court under International Investment Law. This Permanent International Investment Court will also improve the global investment system's consistency, dispel the impression that investment arbitrators are prejudiced against investors, and generally enhance Investor-State Dispute Settlement and International Investment Law' legitimacy. Permanent International Investment Court is needed to advance International Investment Law.