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All Journal Mimbar Keadilan Hang Tuah Law Journal
Arsalan, Haikal
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Law, Crime, Criminology & Criminal Justice

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Rethinking Indonesia’s Geothermal Foreign Direct Investment Policy: Certainty and Economic Analysis of Law Perspective Putri, Dinda Silviana; Arsalan, Haikal; Huang, Nikita Kimberly
Hang Tuah Law Journal VOLUME 8 ISSUE 1, APRIL 2024
Publisher : Fakultas Hukum Universitas Hang Tuah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30649/htlj.v8i1.227

Abstract

This study aims to anylize Indonesian government policy regarding the 100% ownership over geothermal sector projects by foreign direct investors, based on the certainty and effectivity using economic analysis of law perspective. This study is formulated as legal research, using statutory approach, conceptual approach, and comparative approach, as research method. The results of this Based on these explanations, it can be concluded that in terms of certainty, renewable energy investment policies in Indonesia, which frequently change, ultimately reduce the value of that certainty. This is different from Germany which tends to be more stable because it has a renewable energy policy that does not change too often, for example this can be seen in German policy regarding providing incentives to foreign investors. Furthermore, regarding the effectiveness of the policy of 100% ownership by foreign investors for geothermal development projects, based on EaL and game theory, this policy can be said to be effective. However, improvements are needed so that the policy does not conflict with SoNR principles. This improvement, for example, is by using the BOOT scheme used by the Philippines in relation to the geothermal development sector, not only can it be 100% owned by foreign investors without a certain period of time.
Through the Justice and the Sovereignty Over Natural Resources: An Analysis of 100 % Foreign Direct Investor Ownership over Geothermal Sector Project Putri, Dinda Silviana; Arsalan, Haikal; Yudo, Cecillia; Siauwanda, Stefani
Mimbar Keadilan Vol. 17 No. 1 (2024): Februari 2024
Publisher : Faculty of Law, Universitas 17 Agustus 1945 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30996/mk.v17i1.10149

Abstract

The enactment of the Job Creation Law and the Presidential Decree Number 10 of 2021 concerning the Investment Business Sector has make it possible for foreign investors to gain 100% ownership over geothermal sector projects. This policy then raises an important question, which is whether such policy violates the Sovereignty over Natural Resources doctrine, and if so, what kind of policy should be made. This study aims to analyze Indonesia’s geothermal foreign direct investment policy through the Sovereignty over Natural Resources doctrine and implementation of the fair efficiency principle, which also includes aspects of efficiency and justice. This study is normative legal research using statute approach and conceptual approach. The result of this study indicates that, although 100% foreign investor ownership over geothermal exploitation projects could be seen as an efficient policy to attract investors. However, it is still lacking the proper regulation to ensure said policy will not cause harm to the people.
Co-Authors Huang, Nikita Kimberly Putri, Dinda Silviana Siauwanda, Stefani Yudo, Cecillia