This article focuses on the interaction and relationship between Special Economic Zones (SEZs) as facets of unilateral economic law, international investment law, and the investor–state dispute settlement (ISDS) system in a four-fold manner. It initially explains the role of international investment agreements in protecting foreign investments in these zones. Then, it classifies the public or private nature of such zones and goes on to examine related claims through past case law, to determine how modern SEZs must be created to reduce host State liability. Whilst doing so, it provides important suggestions to improve the domestic and international success of SEZs by reducing costs associated with it. In this manner, this article endeavours to highlight the need for a balance in public policy between the rights of host States and foreign investors to ensure that SEZs continue to attract significant amounts of foreign investment. It also stresses on understanding transnational foreign investment rules and the implication of the previously concluded investor–ISDS proceedings so that host States can ensure better regulation of foreign direct investment in these areas.

中文翻译：

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危险的联系：经济特区、国际投资协议和投资者-国家争端解决的故事

本文从四个方面关注作为单边经济法、国际投资法和投资者-国家争端解决 (ISDS) 系统方面的经济特区 (SEZ) 之间的相互作用和关系。它首先解释了国际投资协议在保护这些地区的外国投资方面的作用。然后，它对这些区域的公共或私人性质进行分类，并通过过去的判例法继续审查相关索赔，以确定必须如何创建现代经济特区以减少东道国的责任。在这样做的同时，它为通过降低相关成本来提高经济特区在国内和国际上的成功提供了重要建议。以这种方式，本文力图强调在公共政策中平衡东道国和外国投资者权利的必要性，以确保经济特区继续吸引大量外国投资。它还强调了解跨国外国投资规则和先前结束的投资者-ISDS 程序的含义，以便东道国能够确保更好地监管这些领域的外国直接投资。