During the planning and controlling of the construction process, most attention is focu sed on risk analysis, especially in the context of final costs and deadlines of the investment. In this analysis, the primary and most significant concern is the proper identification and quantification of events, which on a certain level of probability may affect the development process. This paper presents the result of a risk analysis for a particular building object, made after completion of the investment and accepting it for use. Knowledge of the planned values and the actual investment process allowed for the identification of the events and their effects that in this case have significantly disrupted the investment process. The limited total cost of the investment project in question had a considerable impact on the progress of the project execution. Despite three transitions of administrative procedures, the opening date of the shopping centre was delayed by only three weeks.

The idea of a Multilateral Investment Court seems to be one of the most prominent initiatives of the “multilateralization” of international investment law during this century. The creation of a new international, permanent court concentrated on settling investor – state disputes is an extraordinary challenge. Possible problems relate not only to the negotiations concerning the organizational and procedural aspects necessary to ensure the efficient operation of this type of body. It is also necessary to take into account the dynamics of the functioning of international adjudication as such, as well as the controversies surrounding the international legal protection of foreign investments.

This article explores investment protection under Chinese international investment agreements (IIAs), particularly under the China-Poland bilateral investment treaty (BIT). As a state that both imports and exports foreign direct investment, China currently promotes balanced and safeguarded BITs that protect its increasing overseas investments and preserves the necessary space to regulate in the public interest. The Chinese government remains reluctant to be directly involved in investment arbitration as a respondent, while Chinese investors are active in taking advantage of the IIAs’ regime. When compared to China’s recent treaty practice and new developments in global investment governance, the China-Poland BIT is relatively outdated in terms of investment protection, promotion, social clauses, and dispute settlement. In terms of the investment protection effects of BITs, China is seemingly in a more urgent position to update the China-Poland BIT. However, if we evaluate the overall effects of a modernized BIT on investment promotion, regulation, and dispute settlement, an updated China-Poland BIT will fit the interests of both the Polish and Chinese governments. Notwithstanding the on-going negotiation between the EU and China, this article aims, along with presenting the Chinese practice regarding BITs, to describe de lege lata the state of protection offered to Chinese and Polish investors under the China-Poland BIT.

This article presents the results of studies assesing the significance of the most important macro- and microeconomic factors affecting investors’ propensity to invest in mining. The Polish mining industry in recent years has seen intensive restructuring processes which have considerably affected the status of fixed assets required for the exploitation of useful minerals. In order to efectively manage technological progress in mining plants, it is necessary to understand the role of individual, variable factors influencing investors’ propensity tomake specific expenditures. In the analysis, mathematical statistics and econometric modelling methods were applied to determine the nature of correlations between the values studied and their significance. This examination applied statistical data accumulated by economic entities from 2000–2010. A linear econometric model waspresented illustrating the relationship between capital expenditure in mining and such indicators as fixed assetsvalue, GDP, real interest rate, consumption levels of fixed asset components in mining, and various other factors. Structural parameters of a function specifying the level of investment expenditure can be determined based on statistical data which has been appropriately processed so that the model constructed reflects the economic process studied in relevant way.

Such a model is not free of defects typical in statistical models; however, it simultaneously enables one toobtain valuable information concerning the impact of the factors studied on the value of such expenditure, and the theoretical possibilities to exchange the specific quantity of one factor for another factor. In the final version of the model, it is often sufficient to include only these independent variables which contribute the most essential information to the independent variable. This often simplifies the final form of the model without simultaneous limiting of its importance in explaining the economic phenomenon studied and the possibilities of its practical application. In the final selection of significant variables captured in the model, the method of information capacity indicators was used.

The thrust of this article is to examine a contemporary international arbitration process in commercial and investment cases, specifically the interplay of common law and civil law elements in the taking of evidence. It begins with a survey of the provisions of the most popular international arbitration instruments, including international arbitration rules and IBA Rules on the Taking of Evidence in International Arbitration. Following the discussion of some relevant examples of international arbitration instruments, the author tries to answer the question whether these instruments, in their current form, support the popular thesis that the international arbitration process has become largely harmonized. In trying to verify this thesis, the article also goes beyond the text of international arbitration instruments and considers the influence of the cultural biases of international arbitration actors.

The article presents the role of the ceramic layered moulds used in the investment casting method with new (certified) and recycled material from ceramic moulds (CM) after casting process. The materials that were obtained are mainly aluminosilicates and SiO2. The investigation of changes in the quality of ceramic moulds (including the recycled ceramic material) includes the chemical composition of the ceramics as recovered ceramic material, changes in the particle size of the layered covering material, the gas permeability during the pouring of liquid metal, and the creation of the porosity are presented. Than the thermophysical parameters and dimensional accuracy of the casting manufactured in the new ceramic layered shell moulds were analysed. Additionally the global cost savings and improved ecological conditions in the foundry and its surroundings was estimated.

The rapid development of the global economy has led to an increasing demand for resources. The disparity between the supply and demand of resources continues to be prominent and shows a situation of short supply. Resource investment projects with large amounts and long construction periods face many risks due to various unpredictable factors. Cultural, legal, economic and other environments vary between different countries. Therefore, comprehensive risk identification, understanding, evaluation, and analysis are important prerequisites for the success of mineral investment. In this paper, the risk of mineral resources investment in host countries is identified. A risk evaluation index system is established to objectively evaluate the risk environment of the host country. The risk evaluation index system includes four first-level indexes: political and legal risk, social and cultural risk, economic and financial risk, and natural risk. The subjective weight was determined by sending questionnaires to experts and scholars in the industry and conducting data processing. The entropy method was used to determine the objective weight. Finally, the subjective weight and the objective weight were combined to obtain a group of scientific and accurate combined weights. The matter-element theory was introduced into the cloud model and a risk assessment model based on the cloud matter-element theory was constructed with comprehensive consideration of the fuzziness and randomness of risks. Eight countries with relatively rich mineral resources were taken as cases to verify the model application. The research results provide a theoretical basis and decision-making methods for mineral enterprise investment.

The fact that mines have to be established at the place where they are located without having a chance to choose a location brings out area usage conflicts with areas that need to be protected. In fact, forestlands are most common in these overlapping areas in Turkey. In order to perform mining activities in this overlapping forestlands, mining enterprises in Turkey receive forest land permit fees (FLPF), reforestation fees, rehabilitation fees + security deposit of conformity to the environment (SDCE), and other fees. In order to determine the share of these costs in mining investments and operating costs (OC) and to bring a solution proposal so that these costs do not pose a risk of loss of the investment in the mining enterprises, questions have been asked to mining enterprises within Turkey using the “Survey Monkey” program. The averages of all forest fees determined from the answers are proportioned to the mining investment amounts (MIA) and the annual average OC of each mining company responding to the Survey.

Thus, the distribution criteria of different forest fees that are required to be paid by the mining enterprises in order to carry out mining operations in the forestlands in Turkey and their distribution on the basis of mineral groups were analyzed. In this calculation, it was suggested that all the fees in Turkey should be reduced to a more reasonable degree by suggesting solutions regarding the calculation method envisaged by the FLPF, which has a very high share. Otherwise, the result of these rates shows that the costs of forest land-use for mining stipulated by the legislation in Turkey are quite high compared to other countries, and that the current mining investments can have difficulty in maintaining their economic operability in the presence of these required costs.

The successful design and implementation of hydroengineering projects crucially rests upon three collaborative pillars of research: field observations, physical models, and mathematical models.

In the manufacturing sector, the processing of magnesium alloys through the liquid casting route is one of the promising methods to manufacture automotive and aircraft components, for their excellent mechanical properties at the lower weight. Investment casting process has the great cabaility to produce near net shape complex castings for automotive and aircraft applications. The distinct and attractive engineering properties of magnesium alloys have shown to be promising in terms of its potential to replace materials such as cast iron, steel, and aluminum In this regard, the efforts to develop processing technology for these alloys for their wide range of applications in industries have been reported by the scientific and engineering community. For successful production of magnesium alloy castings, it requires specialized foundry techniques because of the particular chemical and physical properties of magnesium; especially the reactive and oxidative nature of these alloys. The industry is young enough, to tap the potential.

Sufficient national fossil resources and an independent water supply system are indispensable elements of the security structure of any state. Energy independence, as a factor in determining self -sufficiency, is now a basic requirement for countries or regions wishing to develop independently and freely. The purpose of this research is to identify the specifics of the European energy strategy in the Central Asian region by considering the basic areas of cooperation between the parties in this sector of the economy. This research paper has been prepared primarily using the following methods: historical, statistical, prognostic, synthesis, comparison and system analysis methods. The research delves into the intricate dynamics of foreign policy activities of European Union members concerning energy resources, particularly in a historical context. Analyzing the collaboration between Brussels and Central Asian nations, both positive and adverse facets of this alliance in the energy domain have been pinpointed. Special attention is paid to the relationship between the European Union and the Republic of Kazakhstan, emphasizing its role within the broader security framework of the region and the continent. The study offers practical recommendations for enhancing state energy strategies and fostering productive bilateral and multilateral energy partnerships.
The results and conclusions of the presented work can be used as a foundation for the development of practical recommendations to establish and improve the energy strategies of the states, and for planning bilateral and multilateral mutually beneficial cooperation in the energy sector.

The article addresses the issues falling within the scope of the economic analysis of a detached building’s heating system with a direct evaporation ground source heat pump installation. The paper was elaborated based on the data made available by the investment’s contractor and the investor. The paper provides data on the investment expenditures and utility cost, calculations of the installation payback, internal return rate and the current net value.

First part of the article describes how we can by change of gating system achieve better homogeneity of product made by investment casting. Turbine engine flap was made by investment casting technology – lost wax casting. The casting process was realised in vacuum. The initial conditions (with critical occurrence of porosity) was simulated in ProCAST software. Numerical simulation can clarify during analysis of melt turbulent flow in gate system responsible for creation of entrained oxide films. After initial results and conclusions, the new gating system was created with subsequent turbulence analysis. The new design of gating system support direct flow of metal and a decrease of porosity values in observed areas was achieved. Samples taken from a casting produced with use of newly designed gating system was processed and prepared for metallography. The second part of article deals with identification of structural components in used alloy - Inconel 718. The Ni – base superalloys, which are combined unique physical and mechanical properties, are used in aircraft industry for production of aero engine most stressed parts, as are turbine blades.

Nowadays, there are growing demands on the accuracy of production. Most of this is reflected in precise manufacturing, such as the investment casting process. Foundries are looking for causes of defects in some cases for a very long time, and it may happen that the source of defects is completely different from what was originally assumed. During the casting process there exist potential causes of defects as oxygen inclusions. This paper represents a summary of the beginnings of a wider research that will address the problems of gating systems in investment casting technology. In general, the influence of the melt flow is underestimated and the aim of the whole scientific research is to demonstrate the significant influence of laminar or turbulent flow on the resulting casting quality. Specifically, the paper deals with the analysis of the most frequent types of defects found in castings made of expensive types of materials casted in an open atmosphere and demonstration of connection with the design of gating systems in the future.

The results of testing of the selected group of wax mixtures used in the investment casting technology, are presented in the paper. The measurements of the kinetics of the mixtures shrinkage and changes of viscous-plastic properties as a temperature function were performed. The temperature influence on bending strength of wax mixtures was determined.

The effect of cobalt aluminate inoculant addition and melt-pouring temperature on the structure and mechanical properties of Ni-based superalloy was studied. The first major move to control the quality of investment cast blades and vanes was the control of grain size. Cobalt aluminate (CoAl2O4) is the most frequently utilized inoculant in the lost-wax casting process of Ni-based superalloys. The inoculant in the prime coat of moulds and pouring temperature play a significant role in grain size control. The finest surface grains were obtained when the internal surface of shell mould was coated with cobalt aluminate and subsequently pouring was at 1480°C. The influence of selected casting parameters and inoculant addition on mechanical properties was investigated on the basis of tensile, creep and hardness testing. The effect of grain refinement on mechanical properties were consistent with established theories. Tests conducted at ambient temperature indicated a beneficial effect of grain refinement both on tensile strength and hardness. In contrast at elevated temperature during creep, the reverse trend was observed.

Foreign direct investment (FDI) and foreign portfolio investment (FPI) have been long considered as independent forms of international capital flows. This paper analyzes the mutual relationship between FDI and FPI and attempts to answer the question whether they complement or substitute for each other from a foreign investor’s point of view. The paper describes the main characteristics of FDI and FPI in terms of their volatility and profitability. We analyze the long-run and short-run relationships between FDI and FPI using vector error correction (VEC) regressions on data for Poland as it is the largest country in Central and Eastern Europe and receives the lion’s share of these two forms of capital in the region. Our investigation suggests that FDI and FPI may be regarded as substitutes. In economically stable periods FDI tends to dominate over FPI but during insecurity and economic distress FPI starts to gain importance.

The article reviews the integrated territorial investments carried out in the Opolskie Voivodeship in the financial perspective 2014-2020. The object of the analysis was the Opole Agglomeration as the only of five functional areas of the Opolskie Voivodeship, where beneficiaries of funds from European Funds are located within this investment policy development policy.

The aim of this article is to identify the role, that special residential law issued by the municipal executive authorities plays in the metropolises development. The article presents key urban and legal barriers related to the functioning of the spacial management system. The article ends with recommendations for further actions related to repair local spatial policy.

Today’s cities tend to “pour out” beyond their administrative boundaries. This phenomenon is related to the settlement of people “from the city” in neighboring municipalities, or taking up jobs in cities by people living in neighboring municipalities. This has been recognized in the European Union, which has introduced appropriate legal instruments for cohesion policy. Integrated Territorial Investments were introduced to the EU cohesion policy for the fi rst time in the 2014-2020 fi nancial perspective. Their goal was to intensify cooperation between cities and their functional areas. Unfortunately, the emerging information about diffi culties in implementing ITIs often become the basis for considering this idea ineff ective. The purpose of the work is qualitative and quantitative verifi cation of the operation of ITU based on selected data, so that it is possible to answer the question about the validity of the existence of this instrument.

The study presents the critical evaluation of existing drainage systems from legal, eco-nomical, environmental and technical viewpoints. Nearly 80% of agricultural land in Lithuania drained by underground drainage systems covers around 3 million hectares. The prevailing large scale drainage systems with a complex of engineering structures such as conducting ditches, drains and collectors, local roads, bridges or farm road-crossings, dikes, dams, water reservoirs, pumping stations for irrigation and for drainage need today an efficient management solution in a new economic situation. The detailed analysis of legal and economic instruments adopted in transferring the management responsibilities of drainage systems to users has been carried out. The study resulted in a number of practical contributions towards the amendments in the Law on Land Reclamation in Lithuania and the establishment of a system of indicators that would allow rationalisation of subsidy allocations for the maintenance and improvement of the drainage systems. These subsidies from the state budget make at the moment the largest share among the investment sources. The financial and in kind contribution of drainage users is permanently increasing as are the allocations of the structural funds for public projects. The EU pre-accession programme SAPARD started in 2000 has supported some investments in rural areas. Unfortunately, it did not support the drainage infrastructure properly. A critical review of previous measures allowed suggesting new actions within the framework of the actual support from EU structural funds.

Cities in recent times suffer from deterioration, suburbanization and depopulation, although as the historically evolved townscapes, they bring economic, social and cultural assets. The reurbanization activates and renews the areas, which lost their functional and formal attractiveness and actuality. The public investments, which protect and capitalize the historical heritage of the cities are the main tool to implement this vector of development. This paper, on the example of analysis of selected group of public investments, which took place in a historic townscape of Szczecin, focuses on significance of the cultural and historical values and presents their catalytic effect on further city development.

Management of metropolitan areas – foreign experience and their Polish implications. The aim of the article is to present problems of development of metrotopolitan areas as premises for creating various forms of territorial integrated management. The reference point is the Report “The OECD Metropolitan Governance Survey” (2014). The models of metropolitan integration were analyzed in both: “the top-down” legal and political solutions of European countries as well as “bottom-up initiatives” of building local government partnerships. The metropolitan reforms in Germany, France and Italy were discussed as good solutions. Against this background, the dilemmas of managing metropolitan areas in Poland, implementation of EU instrument – ITI and possible direction of metropolitan reform are presented.