Smart City Solutions institutes ICSID arbitration proceedings against Guyana over metered parking system project

On 22 December 2022, the Secretary-General of the International Centre for Settlement of Investment Disputes (ICSID) registered a request for arbitration lodged by Smart City Solutions Holdings Inc., a company established under the laws of the United States, against the Cooperative Republic of Guyana (ICSID Case No. ARB/21/64). The dispute arose out of the Georgetown metered parking system project, which was thwarted by strong opposition from citizens and local businesses.