International Investment Law in Chile: Recent Developments in Times of Reform

This article delves into Chile’s international investment law developments in light of the ongoing national and international reform processes as of June 2021. The first part presents Chile’s international policy and its consolidation as an open economy through a vast network of international agreements. The second section provides an overview of Chile’s participation in international multilateral forums regarding the future of the investor-State dispute settlement (“ISDS”) regime. The third section discusses the ISDS cases presented against Chile, as well as the endeavours undertaken by the Program for the Defense of the State in International Investment Arbitration to institutionalize Chile’s defense and other initiatives to prevent disputes. Finally, the article presents conclusions and final thoughts regarding Chile’s investment regime and the constitutional reform process.