長久以來，國際投資協定被認為得促進外國直接投資活動。在此之下，各國積極締結國際投資協定，不僅對於投資者在地主國的投資活動提供法律保護，投資者亦往往被賦予和地主國就投資爭端進行仲裁的權利。然而，地主國以公共利益為由所採取的規制措施，經常被投資者控訴違反其於條約之下所承諾的義務，並透過仲裁方式尋求爭端的解決。因此，近年來國際投資協定開始對於投資者過去所享有的廣泛權利加以限縮，藉此強化地主國採取規制措施的合法空間，同時限制投資者就投資爭端訴諸仲裁的權利。自1990年代起，臺灣積極與其他國家締結國際投資協定，迄今已與超過三十個以上國家締結有雙邊投資協定，或是在自由貿易協定中訂定有投資專章。自2016年起，臺灣政府開始推行新南向政策，並與東南亞和南亞國家締結新一代的國際投資協定。本文旨在對於臺灣於新南向政策之下與菲律賓和印度所分別締結之雙邊投資協定進行法律分析，以評估臺灣當代之條約實踐在何種程度上反映出國際投資法的發展趨勢。

International investment agreements (IIAs) have long been considered important in promoting foreign direct investment activities. Countries around the world thus have actively concluded considerable number of IIAs, which not only provide guarantees on the protection of investors and their investment in the host country, but also grant investors the right to resolve investment disputes with the host country through arbitration. However, the host country’s regulatory measures for the public interest are often accused of breaching its obligations under IIAs and investors subsequently seek settlement of disputes by arbitration. In this context, the IIAs concluded in recent years begin to strengthen the host country’s regulatory space for public policy objectives. Meanwhile, they also impose restrictions on the right of investors to have recourse to arbitration. Since the 1990s, Taiwan has been actively participated in concluding IIAs (including bilateral investment treaties (BITs) and free trade agreements with investment chapters). As of the end of 2019, Taiwan has concluded more than 30 IIAs. Since 2016, the Taiwanese Government launched the New Southbound Policy and concluded a new generation of IIAs with countries in Southeast Asia and South Asia. This article analyses the Bilateral Investment Agreements that Taiwan has concluded with Philippines and India respectively under the New Southbound Policy to examine the extent to which Taiwan’s modern treaty practice reflect the development of international investment law.