The Analysis Of The Advantages And Disadvantages Of African Countries' Investment Law

Africa has a history of poverty and under-developed stage, and the economic development of African countries largely depends on the external assistance since their independence, which, by the meantime, leads the African countries into heavy debt. As the accelerated development of the world pluralism and economic globalization, African countries reflect upon their past to explore the politic and economic system that is applicable to the present situation, and the policy to foreign investment also has been improved. The common characteristics are to abandon the past policy of restrictions and frustration by"nationalization","localization"and"Africanization"and to take various forms to absorb and encourage the investment into Africa countries.History has proved that investment legislation is the most effective method of attracting the foreign investment , for as a factor of the social investment environment, investment law is the primary consideration of the investor. The African countries have been aware of this view of point, especially the situation that as a country liberated not long ago, it is of greater emergency to establish the relative law to absorb foreign direct investment by preferential policies. Furthermore, Africa is rich in mineral, oil and other natural resources, the international investment to Africa has been continuously increased, under such a perfect situation, the African countries establish investment laws one after another, and improve the investment environment for more foreign investment, which by the meantime have reduced the strong dependence on external assistance and lead to the real independent development.Although the specific legislation and policy in the African countries are different in some aspects, they have commonalities, such as the legislative intent, preferential policies, investment procedures and the protection of the investment fund, etc. All of these show the superiority of the investment law in Africa. Nevertheless, the faulty African laws come from colonial legal system so that there are still some problems in the investment law. And law scholars and investors should pay some attention to it.All in all, this article is based on the basic theory of investment law. Firstly, I analyze backgrounds of African investment law. Secondly, I sum up the superiorities. Finally I show some problems and the methods in dealing with the shortcomings of the African investment law. This article contains several analytical methods, such as...