#1(36)'13
#1(36)'13
#1(36)'13
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marTlmsajuleba<br />
N1<br />
da<br />
kanoni<br />
da mimReb saxelmwifos Soris davebic). gaTvaliswinebulia davebis regulirebis ori ZiriTadi<br />
procedura, saxeldobr: mxareTa molaparakebis meSveobiT, xolo SeTanxmebis miuRwevlobisas _<br />
‘‘ad hoc” saarbitraJo proceduris saSualebiT. umravles SemTxvevaSi ki, araa daTqmebi arbitraJis<br />
mier gamosayenebeli samarTlis Sesaxeb. magram Tu amis Sesaxeb rig SeTanxmebebSi aRniSnulia,<br />
maSin mxareebi Tavad gansazRvraven gamosayenebel samarTals saerTaSoriso samarTlis principebze<br />
da normebze miTiTebebis CaTvliT, investiciebis mimRebi qveynis, erovnuli samarTlis<br />
normebis gamoyenebis rekomendaciebis CaTvliT.<br />
zemoaRniSnuli SeTanxmebis mokle analizi SeiZleba davasruloT am tipis SeTanxmebebisaTvis<br />
specifikur subrogaciul 9 daTqmebze miTiTebiT. aq subrogaciis instituti gadmotanilia sadazRvevo<br />
saqmidan. esaa damzRvevisaTvis sadazRvevo sazRauris gadamxdeli mzRvevelis regresis<br />
ufleba zianis mimyenebeli mxaris mimarT. subrogaciuli konstruqcia Setanilia praqtikulad<br />
yvela aseTi tipis SeTanxmebaSi da gulisxmobs, rom politikuri riskebis gamo, investoris<br />
mier Tavisi erovnuli sadazRvevo saagentosagan kompensaciis miRebis SemTxvevaSi, misi saxelmwifo<br />
an sadazRvevo saagento iZens investiciebis mimRebi saxelmwifos mimarT zaralis anazRaurebis<br />
moTxovnis uflebas.<br />
ucxouri investiciebisaTvis `politikuri~ riskebis problemebi erT-erTi aqtualuri<br />
sakiTxia msoflio Tanamedrove, rTuli politikuri fonis pirobebSi. rogorc mravalmxrivi,<br />
ise ormxrivi SeTanxmebebis yvela reJimSi prioritetulia investorTa dacvis meqanizmis gamar-<br />
Tuli funqcionireba, maTi interesebis dacva specifikuri, kerZod, e. w. `politikuri~ an sxvagvarad,<br />
arakomerciuli riskebisagan, romlebsac ganicdian investiciebi ZiriTadad, ganviTarebad<br />
qveynebSi.<br />
ramdenime sityviT e. w. privatizaciis Sesaxeb. 10 Tavisi ekonomikuri arsiT privatizacia aseve,<br />
sainvesticio zomaa _ sakuTrebis uflebebis gadanawilebisa, romelic iuridiulad safuZvlad<br />
udevs nebismier investirebas. erTi mxriv, ar arsebobs privatizaciis regulirebis raime zogadi<br />
saerTaSorisosamarTlebrivi normebi, rogorc sazogadod, investirebis mimarT. meore mxriv,<br />
arc erT, arc meore SemTxevaSi ar aris arc privatizaciis, arc nacionalizaciis, arc mTlianad<br />
investirebis sakiTxebis saerTaSoriso konvenciuri wesiT gadawyvetis dabrkolebebi. doqtrinaluri,<br />
vidre eqspropriaciisa da nacionalizaciis anazRaurebadobidan da aradiskriminaciulobis<br />
materialursamarTlebriv debulebebze dayrdnobis arasaimedoobis gaTvaliswinebiT,<br />
praqtika ucxouri investiciebis realuri dacvis uzrunvelyofis nawilSi yuradRebas amaxvilebs<br />
investiciebis waxalisebisa da dacvis ormxrivi SeTanxmebebis samarTlis instrumentebze,<br />
xolo investiciebis sandoobis uzrunvelyofis mTavari praqtikuli saSualeba amasTan, gaxda<br />
e.w. sainvesticio garantiebi. komerciul safuZvelze sainvesticio arakomerciuli riskebis garantireba<br />
(arsebiTad _ dazRvevis nairsaxeoba) xorcieldeba erovnul da/an saerTaSoriso<br />
doneebze ucxouri investiciebis garantirebulobis gansakuTrebuli meqanizmebis Seqmnis meSveobiT.<br />
komerciuli riskebis dazRveva arsebiTad ki ar aris gamoricxuli Cveulebriv sadazRvevo<br />
institutebSi, aramed garantiebis meqanizmebis Seqmna _ investoris mier arakomerciuli riskebis<br />
moqmedebis Sedegad gamowveuli danakargebisa da rac SeiZleba sruli kompensaciis miRebis<br />
erTaderTi saimedo uzrunvelyofaa. erovnul doneze investiciebis garantirebis funqciebi<br />
Cveulebriv ekisreba saxelmwifos mier Seqmnil specialur dawesebulebebs, romlebic aRWurvili<br />
arian iuridiuli piris uflebebiT, magram saxelmwifos saimedo kontrolis qveS. magaliTad,<br />
aSS-Si esaa sazRvargareTis kerZo investiciebis korporacia _ Overseas Private Investment Corporation<br />
(OPIC); kanadaSi eqsportis ganviTarebis korporacia (EDC) da sxva. zogadad, investiciebis garantirebis<br />
saerTaSoriso mravalmxrivi meqanizmebi regionuli an universaluria. regionuli meqanizmis<br />
iSviaTi magaliTia aziisa da afrikis, aseve, 22 arabuli qveynis erT-erTi sainvesticio<br />
22