The article is devoted to the analysis of national legislation in the sphere of international commercial arbitration of the BRICS group member countries, as well as the study of their new state programs of investment agreements with a view to establish the possibility of creating an international investment arbitration center of the BRICS group. The study of this topic allowed us to draw the following conclusions. Firstly, the creation of the international investment arbitration center of the BRICS Group is the key to establishing a stable and favorable investment climate that will avoid a crisis in the international dispute resolution system. Secondly, BRICS offers a promising approach, suggesting that in addition to imposing obligations on host States and granting rights to foreign investors, bilateral investment treaties should allow the contracting parties to interact in a more constructive way. Thirdly, there is an objective need to conclude a multilateral investment agreement that will establish the international investment arbitration center of the BRICS and which will provide other necessary guarantees to create an attractive investment climate.