The current international investment legal regime results from the interplay between international investment norms, embodied mainly in international investment agreements (IIAs), and the legal regime of the host country. This article will outline two major impacts IIAs can exert on national governance in Egypt: first, the domestic reform impact that refers to domestically initiated reform measures taken to compliment IIAs objectives, such as establishment of Economic Courts as well as limitation of third-party challenge of Investor–State contracts; and, second, the Supra-National Impact which involves situations where IIAs constrain the regulatory powers of the host state usually by imposing legal obligations that go beyond international standards, such as alternative dispute resolution (ADR) mechanisms as well as trade-related investment measures-plus (TRIMS-Plus) and trade-related aspects of intellectual property rights-plus (TRIPS-Plus) provisions. Understanding the profound effects of IIAs on national governance will beneficially inform policy makers when concluding IIAs.

当前的国际投资法律制度是主要体现在国际投资协定（IIA）中的国际投资规范与东道国法律制度之间相互作用的结果。本文将概述IIA对埃及的国家治理可能产生的两个主要影响：首先，国内改革的影响是指为符合IIA的目标而采取的由国内发起的改革措施，例如设立经济法院以及限制第三人所采取的措施。投资者与国家合同的当事方挑战；第二，超国家影响，涉及国际投资协定的情况通常通过施加超越国际标准的法律义务来限制东道国的监管权力，例如替代性争议解决（ADR）机制以及与贸易有关的投资措施（TRIMS -Plus ）和与贸易有关的方面知识产权+（TRIPS -Plus）条款。了解IIA对国家治理的深远影响，将有利于在制定IIA时为决策者提供信息。