對外國直接投資國家安全審查機制之研究──兼論WTO國家安全例外規範

A Study on Foreign Direct Investment Screening Mechanism for National Security–with Reference to WTO Norm on National Security Exception

「國家安全乃為最高法律」（Salus reipublicae suprema lex）此句拉丁格言說明國家安全至上，當一國之國家安全遭受威脅時，政府可採取超越既有法律之手段，維護國家安全。近年來，因部分外國併購投資涉及對地主國關鍵性產業或技術之投資，引發各國對該等投資可能帶來國家安全之疑慮，「國家安全」遂成為國際投資法重要議題，許多國家亦紛紛建置外國直接投資國家安全審查機制，以作為各國捍衛外國投資監理主權的安全閥。因「國家安全」乃屬不確定法律概念，各國對外國投資之國家安全審查，無論於定義範圍或審查標準均無一致性原則，對於被否決案件，外國投資人是否具適當救濟管道，亦為外國投資人於赴他國投資時關切之重點。外國投資人對於國家安全審查結果引發之爭端，除於地主國國內尋求行政或司法救濟、或尋求投資人與地主國爭端解決外，是否可訴諸WTO爭端解決，為本文主要探討議題。本文將對美國、歐盟及我國之外國直接投資國家安全審查機制探討，並針對外國直接投資國家安全審查引發之爭端，適用WTO爭端解決機制之可行性分析。

In recent years, as some foreign M&A investment activities engage in critical industries or technologies in the host country, they have aroused concerns among countries that such investments will bring national security threats to the host country. ''National security'' thus has become an important issue in international investment law, and many countries start to implement a foreign direct investment screening mechanism for national security as a safety valve for them to protect the rights to regulate foreign direct investment. As ''National security'' is an uncertain legal concept, so far there are no worldwide consistent principles for foreign direct investment screening mechanism for national security, which raises foreign investors' doubts about the lack of transparency and predictability of the host country's screening mechanism for national security. For the disputes arising from the decision of the national security review, apart from pursuing local administrative or judicial remedies in the host country or resorting to Investor-State Dispute Settlement between investors and the host state, whether the disputes can be resolved through WTO dispute settlement mechanism is the main topic to be discussed in this paper. This paper would like to study on the foreign direct investment screening mechanism for national security in the United States, the European Union and Taiwan, and explore the feasibility of applying the WTO Dispute Settlement Mechanism to investment disputes arising from the decision of national security review.