<![CDATA[This study examines a customary equity-based investment model as an alternative legal framework for partnerships between investors and the Port Numbay Indigenous Community in Jayapura City. It addresses the persistent inequality in investment practices, where customary land is generally treated only as an object of compensation rather than as an equity asset capable of providing sustainable economic benefits to indigenous communities. Using a normative-empirical (socio-legal) approach, the research analyzes statutory regulations, Papua’s Special Autonomy framework, customary land practices, and empirical data collected through interviews with customary leaders, clan representatives, and business actors. Qualitative analysis was conducted using statutory, conceptual, comparative, and case approaches. The findings indicate that existing investment arrangements rely mainly on one-time compensation, which provides limited legal certainty, economic sustainability, and community participation. The proposed model redefines indigenous communities as equity partners with proportional ownership, dividend rights, and participation in investment governance, based on the principles of Free, Prior and Informed Consent (FPIC), equitable benefit-sharing, and legal protection. This model offers a practical legal framework for promoting fair, inclusive, and sustainable investment in Papua.]]>
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