ESQ Legal Practice Magazine JUNE 2014 EDITION | Page 23

has consented to any disputes
concerning the Convention
itself being resolved by the
International Court of Justice.
Any other state party to the
ICSID Convention could
therefore commence
proceedings against Tanzania
at the International Court of
Justice.
Second, it may have serious
implications for investment
into Tanzania. In the past,
Tanzania's membership of
ICSID as well as its network of
bilateral investment treaties
has provided considerable
comfort and assurance to
investors into Tanzania.
Indeed, the Tanzania
Investment Centre's

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Investment Guide refers to its
membership of ICSID as an
investment guarantee, and
Tanzania's Investment Act
states that investment disputes
may be referred to ICSID.
Investors commencing
arbitration proceedings
against states tend to
understand that enforcement
of any award may take so