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International commercial arbitration is restricted by public law forbidding the adoption of foreign seats for disputes of certain types, such as public-privatepartnerships. Despite this, dealing with well-established industry giants sometimes leaves no room to shift risks in negotiations.
MOI negotiations were conducted in English with the Portuguese version only developed to satisfy requirements under Mozambican law, according to the claimants (Notice of Arbitration, para 33). The parties agreed to a feasibility study, with the costs borne by PEL. The tribunal accepted the claimants interpretation of the MOI pro tempore.
While Korean contractors have become more cautious in bidding for new projects, they have been gradually transforming their business portfolios to focus on public-privatepartnership (PPP), independent power producers (IPP), and renewable energy projects. billion in 2012 to $1.8 billion in 2023.
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