Type:	International treaty
Date of approval :	1427-07-01
accreditation:	Royal Decree
Approval number:	م/44
Type of Accreditation:	Totally
Validity:	Valid
Joining date:	1426-08-28
Summary:	By AI A Royal Decree was issued by Abdullah bin Abdulaziz Al Saud approving an Agreement between Saudi Arabia and the Philippines to enhance economic cooperation and protect investments. The Agreement was signed on 14/8/1426H, and "investment" is defined as any assets owned or controlled by an investor from either Party. The Agreement guarantees fair treatment of investments, prohibits any discrimination against them, and affirms the rights of investors. The provisions include protection of investment...

AGREEMENTBETWEEN

THEGOVERNMENTOFTHEKINGDOMOFSAUDIARABIA

AND

THEGOVERNMENTOFTHEREPUBLICOFTHEPHILIPPINES

CONCERNINGTHE

ENCOURAGEMENTANDRECIPROCALPROTECTIONOF

INVESTMENTS

TheGovernmentoftheKingdomofSaudiArabiaandtheGovernmentof

theRepublicofthePhilippineshereinafterreferredto“astheContracting

Parties”.

DesiringtointensifyeconomiccooperationbetweenbothStates.

Intendingtocreatefavourableconditionsforinvestmentsbyinvestorsof

oneContractingPartyintheterritoryoftheotherContractingParty,andto

increaseprosperityintheirrespectiveterritories;

Recognizingthatencouragementandprotectionofsuchinvestmentswill

benefittheeconomicprosperityofbothStates;

Haveagreedasfollows:

Article1

ForthepurposesofthisAgreement;

I.theterm“investment”meanseverykindofasset,ownedorcontrolled

byaninvestorofaContractingPartyintheterritoryoftheother

ContractingPartyaccordingtoitslegislationandinparticular,butnot

exclusivelyincludes:

a)movableandimmovablepropertyaswellasanyotherrightsinrem,

suchasmortgages,liensandpledges,usufructsandsimilarrights;

b)shares,stocksanddebenturesofcompaniesandotherkindsofrights

orinterestsincompaniesaswellassecuritiesissuedbya

ContractingPartyoranyofitsinvestors,

c)claimstomoneysuchasloansortoanyperformancehavingan

economicvalue,associatedwithaninvestment;

d)intellectualpropertyrights,includingbutnotlimitedtocopyrights,

patents,industrialdesigns,know-how,trademarks,tradeand

businesssecrets,tradenames,good-will;

e)anyrightconferredbylaworunderpubliccontractoranylicenses,

permitsorconcessionsissuedaccordingtolaw:

Te—ER.|r————,ASP"

anyalterationoftheforminwhichassetsareinvestedorreinvested

shallnotaffecttheirclassificationasinvestment,providedthatsuch

alterationisnotinconflictwiththelegislationoftheContracting

Partyintheterritoryofwhichtheinvestmentismade.

2.theterm“returns”meanstheamountsyieldedbyaninvestmentin

particularprofit,dividends,royalties,capitalgainsoranysimilarfees

Ofpayments,

3.Theterm“investor”means:-

a)1nrespectoftheKingdomofSaudiArabia:

1.naturalpersonspossessingthenationalityoftheKingdomof

SaudiArabiainaccordancewiththelawoftheKingdomof

SaudiArabia;

11.anyentityhavingornothavinglegalpersonality,constitutedin

accordancewiththelawsoftheKingdomofSaudiArabiaand

havingitsheadofficeinitsterritorysuchascorporations,

enterprises,cooperatives,companies,partnerships,offices,

establishments,funds,organizations,businessassociationsand

othersimilarentitiesirrespectiveofwhetherornottheyareof

limitedliability;

ni.theGovernmentoftheKingdomofSaudiArabiaandits

financialinstitutionsandauthoritiessuchastheSaudiArabian

MonetaryAgency,publicfundsandothersimilargovernmental

institutionsexistinginTheKingdomofSaudiArabia.

b)inrespectoftheRepublicofthePhilippines:

1.individualswhoarecitizensofthePhilippineswithinthe

meaningofitsConstitution.

i.legalentities,includingcompanies,associationsofcompanies

tradingcorporateentitiesandotherorganizationsthatare

incorporatedunderthelawsofthePhilippines.

4.Theterm“territory”means:-

a)inrespectoftheKingdomofSaudiArabia,meansinadditionto

thezonescontainedwithinthelandboundaries,themarineand

ANsubmarinezonesoverwhichTheKingdomofSaudiArabiaA

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Agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of the Philippines on the Promotion and Reciprocal Protection of Investments