Does International Investment Law Constitute a Limit or Threat to The Rights of Indonesia to Regulate?

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Before explaining the Hypothesis, we would like to let you know that International Investment Law doesn’t implement in the State of Indonesia. However International Investment Law will remedy from International Investment Law to Domestic Law. The International Investment Law will approve domestic law for each country.

International Investment Law is not known in Indonesia, but it is an Investment Law. Based on article 1 number 1, investment law number 25 / 2007, investment is all forms of investment activities, both they are domestic investment and Foreign investment are to do business in the territory of the Republic of Indonesia.

Investment Law regulates the business fields that are allowed for investment review. And also investors provide regulations, procedures for investing.

Potential of foreign investor lawsuit behind Indonesia’s Singapore-Bilateral Investment Agreed on the annual meeting of the IMF-Bank World in 2013 at Bali, Indonesia. There is a sixth bilateral investment treaty to protect the Singapore investment that will enter Indonesia. The signing of the Indonesia-Singapore bilateral investment (BIT) of Singapore, they also signed an investment cooperation relations with investment plans in several sectors such as Industrial 4.0, Tours, Fintech and Education.
The signing of Indonesia-Singapore is seen as a form of setbacks from the policies that the Indonesian government has taken by 2013 to review and stop the enforcement .Since the 1960s to 2013, Indonesia has 63 agreements. The impact of the Contract, Indonesia has at least 8 experience cases of foreign investors against Indonesia with the value of claims of compensation from foreign investors to billions of dollars. Investors are named Rafat Ali Rizvi ( Indonesia-UK), Churchill Mining ( Indonesia-UK), Newmont (Indonesia Bear Indonesia — Netherlands), India Metal Ferro Alloys ( Indonesia-India), and Oleovest Ltd. (Indonesia-Singapore). In fact, the potential of the Indonesian case forward if the claims are not discontinued to extend to various sectors such as health, where some countries have experienced foreign investor lawsuits related to health and drug issues. How should the path and the road be taken? Indonesia must conduct transparency and provide rights to the Indonesian people to know the information of international investment business agreements. It is intended to provide a sense of justice for foreign investors and the people of Indonesia.

The author has elaborated whether the Investment Law limit threatens the rights of the country’s constitutional rights?After reading the above points, it can be concluded that the state does not limit and threaten but in term, it is necessary to have a commitment to have a contract agreement that must be fulfilled and obeyed.

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