FIIA’s Postdoctoral Fellow Jens Hillebrand Pohl has successfully defended his doctoral thesis on Thursday 19.9.2024 at Maastricht University, Faculty of Law. Pohl wrote his dissertation on foreign direct investments (FDI) through the lens of national security.
In his thesis, Pohl uses the term ‘weaponized investments’ to describe foreign direct investments that are perceived as tools of geoeconomic strategy. The thesis examines how these investments blur the lines between economic activity and national security. States may invoke national security to justify restrictive measures against foreign investors, causing disputes. The thesis focuses on how international arbitration addresses those disputes.
Some of the central themes to the thesis are international investment law, commercial and governmental roles of sovereign investors, transparency in arbitration, and geoeconomics.
The study concludes that as geoeconomic tensions rise, the use of national security screenings and restrictive measures against foreign investments is likely to increase. This could lead to a form of geolegal competition, where states strategically use legal tools such as investment screening mechanisms to protect their geoeconomic interests or pursue broader geopolitical objectives. The thesis also suggests that lawfare—the use of legal mechanisms as a tool of international competition—will play an increasing role in international disputes related to foreign investments.
Pohl’s research highlights the need for reforms in international investment agreements, particularly in improving transparency and ensuring procedural fairness in arbitration. His work has important policy implications for governments that must balance the protection of national security with the need to maintain investor confidence.
Reflecting on the writing process, Pohl said: “The writing process was a fascinating journey that allowed me to explore the intersection between law and geoeconomics. One of my key aims was to demonstrate how legal frameworks can be both a shield and a sword in international relations, particularly when it comes to investment disputes involving national security. I hope readers come away with a deeper understanding of how legal tools are increasingly being used in geoeconomic competition, and the importance of maintaining a rules-based system to manage these conflicts.”
FIIA warmly congratulates Dr. Pohl!
