Treaties — Chile–Malaysia Bilateral Investment Treaty, 1992 — Fair and equitable treatment provision — Most-favoured-nation clause — Standard of fair and equitable treatment — Whether obligation to grant planning permission part of fair and equitable treatment — Whether obligation to observe contractual obligations part of fair and equitable treatment — Investment approved for a project against current government policy

Foreign investment — Investment in land zoned as rural — Urban planning — Whether authorization to invest in specified land giving rise to legitimate expectation that change of use possible — Respective roles of foreign investment authority and planning authority