KMAN Publication Incorporation Interdisciplinary Studies in Society, Law, and Politics 3060-5687 5 Serial Number 19 2026 07 30 The System of International Investment Dispute Settlement in Light of UNCITRAL Initiatives The System of International Investment Dispute Settlement in Light of UNCITRAL Initiatives 1 17 EN Journal Article 2026 05 08 <p>The international investment dispute settlement system has undergone significant transformation as a result of the expansion of foreign investment, the proliferation of bilateral and multilateral investment treaties, and the increasing use of investor–State arbitration. Although this system has provided foreign investors with direct access to international remedies and has contributed to the legal protection of cross-border investment, it has also generated substantial concerns regarding consistency, legitimacy, transparency, cost, duration, adjudicator independence, and the regulatory autonomy of States. These concerns have intensified as investment disputes increasingly involve public-interest measures relating to environmental protection, public health, taxation, national security, sustainable development, and the digital economy. This article examines the structure and evolution of international investment dispute settlement with particular emphasis on the reform initiatives developed within the United Nations Commission on International Trade Law. Using a descriptive-analytical legal approach, the study evaluates the principal weaknesses of the traditional investor–State dispute settlement model and analyzes proposed reforms relating to adjudicator conduct, procedural efficiency, transparency, mediation, dispute prevention, appellate review, and the possible establishment of a permanent multilateral investment court. The analysis demonstrates that UNCITRAL initiatives represent a broader shift from a predominantly arbitration-based model toward a more institutionalized, transparent, and balanced dispute settlement architecture. At the same time, the study finds that comprehensive reform must preserve effective investor protection while safeguarding legitimate State regulatory powers. It concludes that the future of international investment dispute settlement is likely to develop through a hybrid framework combining arbitration, institutional adjudication, mediation, and preventive mechanisms. The effectiveness of this framework will depend on its capacity to ensure consistency, independence, accessibility, enforceability, and adaptability to contemporary economic, technological, and geopolitical conditions.</p> https://journalisslp.com/index.php/isslp/article/download/583/1176