Protection of Foreign Investment in Context: Nigeria&#039;s Investment Laws, Treaties and Petroleum Agreements

Khrushchev Ekwueme

doi:10.5771/9783845202907

Summary

Recht und Sicherheit von Eigentum unter nigerianischem und internationalem Recht sind Thema dieses Werkes, das sowohl theoretische als auch praktische Ansätze darstellt. Im Zeitalter der Globalisierung, in dem Afrika versucht, vom Privatsektor und marktgerechter Wirtschaft zu profitieren, gibt der Autor Investoren, Praktikern und Wissenschaftlern ein nützliches Hilfsmittel an die Hand.

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Bibliographic data

Edition: 1/2007
Copyright Year: 2007
ISBN-Print: 978-3-8329-2233-7
ISBN-Online: 978-3-8452-0290-7
Publisher: Nomos, Baden-Baden
Series: Nomos Universitätsschriften - Recht
Volume: 496
Language: English
Pages: 355
Product Type: Monograph

Titelei/Inhaltsverzeichnis No access Pages 2 - 16
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Abbreviations No access Pages 17 - 22
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Preface No access Pages 23 - 24
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Methodology No access Pages 25 - 25
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Aims of Study No access Pages 26 - 26
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Scope and Structure of the Study No access Pages 27 - 29
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1. Introduction No access Pages 30 - 31
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2. 1. Right to Acquire and Own Immovable Property No access Pages 31 - 33
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  2. Constitutional Concept of Property No access Pages 33 - 35
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  3. Compulsory Acquisition or Possession No access Pages 35 - 40
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  4. Public Purpose Requirement No access Pages 40 - 44
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  5. Applicable Standard of Compensation No access Pages 44 - 46
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3. Conclusion No access Pages 46 - 47
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1. Introduction No access Pages 48 - 48
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2. Concept of Property No access Pages 48 - 49
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3. The Right to Own Property No access Pages 49 - 51
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4. Property Guarantee under the African Charter No access Pages 51 - 55
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5. Right of Access to Court and the African Charter No access Pages 55 - 58
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6. Conclusion No access Pages 58 - 59
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1. Introduction No access Pages 60 - 61
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2. Expropriation and Nationalization No access Pages 61 - 62
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3. 1. Creeping Expropriation No access Pages 62 - 64
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  2. Indirect Taking of Contractual Rights No access Pages 64 - 65
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  3. Annulment of Contract No access Pages 65 - 67
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  4. Deprivation of Managerial Control No access Pages 67 - 69
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  5. Forced Sale and Involuntary Transaction No access Pages 69 - 71
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4. Attributability No access Pages 71 - 76
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5. 1. Taxation No access Pages 76 - 78
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  2. Currency Regulation No access Pages 78 - 79
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  3. Cancellation of Licences or Permits No access Pages 79 - 80
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  4. Environmental Regulation No access Pages 80 - 85
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6. Conclusion No access Pages 85 - 86
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1. Introduction No access Pages 87 - 87
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2. Public Purpose No access Pages 87 - 89
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3. Non-discrimination No access Pages 89 - 90
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4. 1. Discrete Expropriation No access Pages 90 - 95
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  2. Nationalization No access Pages 95 - 99
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5. 1. Resolutions of the U.N. General Assembly No access Pages 99 - 102
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  2. The Effect of Bilateral Investment Treaties No access Pages 102 - 103
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  3. Lump-sum Agreement No access Pages 103 - 104
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  4. Compensation Settlement Agreement No access Pages 104 - 105
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6. Conclusion No access Pages 105 - 106
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1. Introduction No access Pages 107 - 108
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2. The Emergence and Growth of Investment Treaties No access Pages 108 - 110
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3. The Preamble of Bilateral Investment Treaties No access Pages 110 - 111
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4. 1. Material Scope No access Pages 111 - 114
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  2. Personal Scope No access Pages 114 - 115
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  3. Definition of Corporate Investor No access Pages 115 - 117
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  4. Temporal Scope No access Pages 117 - 119
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  5. Territorial Scope No access Pages 119 - 120
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5. Admission and Approval of Investment No access Pages 120 - 122
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6. General Standard – Fair and Equitable Treatment and Full Protection and Constant Security No access Pages 122 - 134
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7. 1. Most-favoured-nation Treatment No access Pages 134 - 138
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  2. National Treatment No access Pages 138 - 143
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  3. Exceptions and Limitations to the MFN and NT Standards No access Pages 143 - 144
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8. Compensation for Losses caused by War or Civil Disturbances No access Pages 144 - 146
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9. Protection against Expropriation, Nationalization and Indirect Taking No access Pages 146 - 148
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10. Monetary Transfer No access Pages 148 - 149
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11. Subrogation No access Pages 149 - 151
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12. Dispute Settlement Between the Contracting Parties No access Pages 151 - 153
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13. Conclusion No access Pages 153 - 153
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1. Introduction No access Pages 154 - 155
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2. 1. Colonial Era No access Pages 155 - 157
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  2. Post-Independence (1960-1971) No access Pages 157 - 158
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  3. The Period from 1972 to 1978 No access Pages 158 - 160
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  4. The Period from 1979 to 1994 No access Pages 160 - 162
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3. The Scope of the NIPC Act No access Pages 162 - 164
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4. Definition of Investment No access Pages 164 - 165
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5. The Relevance of Source of Investment No access Pages 165 - 166
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6. Admission Of Investment No access Pages 166 - 170
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7. Business Permits, Expatriate Quotas, Resident Permits and other Services No access Pages 170 - 173
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8. 1. Guarantees against Expropriation and Nationalization No access Pages 173 - 174
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  2. Expropriation and Nationalization No access Pages 174 - 175
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  3. Public Purpose and National Interest No access Pages 175 - 177
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  4. Compensation No access Pages 177 - 178
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9. Currency Transfer No access Pages 178 - 180
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10. Conclusion No access Pages 180 - 181
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1. Introduction No access Pages 182 - 183
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2. Right of Access to Court No access Pages 183 - 185
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3. The Right of a Foreign Corporation to sue in Nigeria No access Pages 185 - 186
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4. The Right to Make Claims in Foreign Currencies No access Pages 186 - 186
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5. Constitutionality of Pre-action Notices No access Pages 186 - 189
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6. Defence of Rule of Law No access Pages 189 - 191
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7. Delays occasioned by Adjournments No access Pages 191 - 192
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8. Enforcement of Monetary Orders of Court against the Government No access Pages 192 - 194
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9. Administrative Justice No access Pages 194 - 198
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10. Conclusion No access Pages 198 - 199
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1. Introduction No access Pages 200 - 201
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2. State Ownership of Petroleum No access Pages 201 - 204
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3. Competent Authority No access Pages 204 - 205
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4. 1. Autonomy of the Will versus Permanent Sovereignty over Natural Resources No access Pages 205 - 211
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  2. Legal Consequence of the Violation of a Stabilization Clause No access Pages 211 - 212
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5. Renegotiation No access Pages 212 - 214
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6. Relocalization of Nigerian Petroleum Agreements No access Pages 214 - 218
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7. Conclusion No access Pages 218 - 219
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1. Introduction No access Pages 220 - 222
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2. Effect of ICSID Arbitration Clause in a BIT No access Pages 222 - 226
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3. Consent to ICSID’s Jurisdiction under Section 26(2) of NIPC Act No access Pages 226 - 230
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4. Jurisdictional Implication of Diplomatic Protection No access Pages 230 - 231
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5. The Requirement of Amicable Settlement No access Pages 231 - 233
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6. 1. Standing of Natural Claimants No access Pages 233 - 234
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  2. Standing of Juridical Persons No access Pages 234 - 236
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7. Treatment of a Foreign Company as the National of another Contracting State No access Pages 236 - 238
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8. Requirement of Foreign Control No access Pages 238 - 239
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9. Constituent Subdivision or Agency No access Pages 239 - 241
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10. Material Jurisdiction No access Pages 241 - 242
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11. Conclusion No access Pages 242 - 243
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1. Introduction No access Pages 244 - 244
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2. 1. Does an ad hoc Committee Possess Appellate Power? No access Pages 244 - 250
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  2. Can Abdication of Jurisdiction Constitute Manifest Excess Power? No access Pages 250 - 251
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3. Recognition of ICSID Awards for Enforcement No access Pages 251 - 252
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4. Distinction between Recognition and Enforcement: The Plea of Sovereignty No access Pages 252 - 254
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5. Immunity of Sovereign Assets from Execution No access Pages 254 - 255
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6. Conclusion No access Pages 255 - 256
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1. Introduction No access Pages 257 - 257
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2. Investment Inflows No access Pages 257 - 259
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3. 1. Political Instability, Civil Unrest and Religious Crisis No access Pages 259 - 260
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  2. Corruption, the Syndrome of »419« and Armed Robbery No access Pages 260 - 264
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  3. Inadequacy of Basic Social Amenities No access Pages 264 - 266
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  4. Administrative Barriers and Capacity Building Problems No access Pages 266 - 268
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  5. Monopoly No access Pages 268 - 269
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4. Conclusion No access Pages 269 - 270
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1. Introduction No access Pages 271 - 272
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2. 1. Catching up with Global Economic Reality No access Pages 272 - 273
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  2. Reducing the Complexity of the Current Regime No access Pages 273 - 275
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  3. Multilateral Liberalization of the third Pillar of Globalization No access Pages 275 - 275
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3. The Case against MAI No access Pages 275 - 276
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4. Open-ended Definition of Investment No access Pages 276 - 277
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5. Definitional Approach No access Pages 277 - 279
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6. The Right of Establishment No access Pages 279 - 281
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7. Performance Requirements No access Pages 281 - 284
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8. Incentives No access Pages 284 - 286
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9. Fair and Equitable Treatment, Full Protection and Constant Security No access Pages 286 - 286
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10. Taking and Compensation No access Pages 286 - 288
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11. 1. Appellate Review No access Pages 288 - 290
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  2. Overlapping Jurisdiction No access Pages 290 - 291
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  3. Judicial Restraint No access Pages 291 - 292
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12. 1. Health and Welfare No access Pages 292 - 293
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  2. Environment No access Pages 293 - 294
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13. Temporary Safeguard Measures No access Pages 294 - 295
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14. After the OECD: Quo Vadis the MAI? No access Pages 295 - 297
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15. Conclusion No access Pages 297 - 298
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Final Conclusion No access Pages 299 - 306
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Table of Cases No access Pages 307 - 312
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Bibliography No access Pages 313 - 324
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1. Nigeria-U.K. BIT of 11 December, 1990 No access Pages 325 - 332
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2. Nigeria-Germany BIT of 28 March, 2000 No access Pages 332 - 340
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3. Excerpts from the NIPC Act, 1995 No access Pages 340 - 343
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4. Excerpts from the NIPC Amendment Act, 1998 No access Pages 343 - 345
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5. NIPC Data on FDI Inflows – January 2001 to June 2002 No access Pages 345 - 355
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6. BPE Data on Proceeds from Privatization – 2001 to 2002 No access Pages 355 - 355
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