Uticaj investitora kao nedržavnih aktera u međunarodnom pravu

: The international legal order in the 21st century is increasingly reminiscent of a kaleidoscope composed of many non-state actors influencing the dynamics of international relations through various activities. From the position of non-governmental organizations, individuals and minorities - indigenous peoples, through terrorist groups to multinational companies, there is no area of international law in which non-state actors, to a greater or lesser extent, have not influenced the creation, development or application of legal norms. Nevertheless, the role of non-state actors appears to be most visible in the area of international investment law, as reflected in the growing influence of foreign investors. Their position provokes a lot of controversy in international law, primarily due to the specific dispute resolution mechanism that allows the investor to file a lawsuit with the selected arbitral tribunal directly against the host country. in this way, despite the formal lack of character of a subject in international law, the investor manages to actually equate his position in a particular dispute with the state. Additionally, the legal nature of the so-called "internationalized agreements" provides opportunities for different interpretations - can investors based on such agreements enjoy not only the status of an object but, to a certain extent, also a subject of international law? in this paper, the author will examine the sources of international investment law, the position of investors in resolving investment disputes, as well as the possible difference between the formal and factual position that investors in the international legal order enjoy.