Navigating International Investment Law in Southeast Asia: The Case of Unfair Competition in Indonesia’s Mining Sector

Authors

DOI:

https://doi.org/10.15294/ildisea.v5i1.34683

Keywords:

International Investment Law, Unfair Competition, Mining Sector, Indonesia, Investor-State Dispute Settlement

Abstract

This paper explores the intersection between international investment law and domestic regulatory frameworks in Southeast Asia, with a particular focus on unfair competition in Indonesia’s mining sector. As Southeast Asia continues to attract foreign direct investment (FDI), legal disputes involving foreign investors and host states have become more frequent, particularly in resource-rich industries. Using Indonesia as a case study, this research analyzes how allegations of unfair competition—such as discriminatory licensing, state favoritism toward domestic enterprises, and lack of transparency—can trigger claims under international investment agreements (IIAs). The novelty of this paper lies in its focus on the underexplored tension between international investment protections and national efforts to regulate competition in strategic sectors. Through doctrinal legal analysis and selected case reviews, the paper highlights inconsistencies between Indonesia’s domestic legal framework and its international obligations, particularly under bilateral investment treaties (BITs). The contribution of this study is twofold: first, it provides a critical legal mapping of how unfair competition claims in the mining sector may escalate to investor-state dispute settlement (ISDS); second, it offers policy recommendations to harmonize investment protection with fair competition principles. Ultimately, this paper argues that unless Southeast Asian countries, particularly Indonesia, reform their investment governance and competition policies, they risk increased litigation and a chilling effect on sustainable investment. This research adds to the growing discourse on how developing countries can balance investor protection with national economic sovereignty.

References

Adinolfi, Giovanna. "Soft law in international investment law and arbitration." The Italian Review of International and Comparative Law 1, no. 1 (2021): 86-112. https://brill.com/view/journals/iric/1/1/article-p86_86.xml?language=en

Calderón, Gael Nicolás Ríos, and Aitana Noelia. 2025. “The Case of Water Privatization in Bolivia: Substantive Justice and the Right to Water as a Human Right: El Caso de la Privatización del Agua en Bolivia: Justicia Sustantiva y Derecho al Agua como Derecho Humano”. Crítica de da Justicia Sustantiva 1, no. 2 (2025): 181-204. https://publications.socipol.org/index.php/cjs/article/view/27.

Reddy, Isha, Galuh Ayu Widuri, and Rizki Ramadhana Arya Putra. “Debt or Development? A Study of Indonesia’s Foreign Debt and Its Impact on Economic Justice for Future Generations”. Indonesian Economic Justice Review 2, no. 2 (2025) https://doi.org/10.65815/g25j2q64

Agreement between the Government of the Republic of Singapore and the Government of the Republic of Indonesia on the Promotion and Protection of Investments (Indonesia - Singapore BIT (2005). Online at https://edit.wti.org/document/show/a5acf1be-3c64-4d7a-94b5-05c9c53a94cf

Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments (Indonesia - United Kingdom BIT (1976). Online at https://edit.wti.org/document/show/cae2b84b-8a2c-483c-a85d-a8ce73d91c90?textBlockId=9f1dcc0d-c207-4de7-9770-188a47346fe6&page=1

Ahmad, Jawad. "Complicity in Forgery and Investor Due Diligence over Local Partners: Churchill Mining PLC and Planet Mining Pty Ltd v Republic of Indonesia, ICSID Case Nos ARB/12/14 and ARB/12/40, Award, 6 December 2016 (Gabrielle Kaufmann-Kohler, Michael Hwang, Albert Jan van den Berg)." The Journal of World Investment & Trade 19, no. 2 (2018): 293-304. https://doi.org/10.1163/22119000-12340089

Andrews-Speed, Philip, Mingda Qiu, and Christopher Len. "Chinese engagement in Southeast Asian energy and mineral resources: motivations and outlook." The Geoeconomics and Geopolitics of Chinese Development and Investment in Asia. London: Routledge, 2018, pp. 42-68.

ASEAN Comprehensive Investment Agreement (ACIA), online at https://www.asean.org/wp-content/uploads/images/2013/economic/aia/ACIA_Final_Text_26%20Feb%202009.pdf

Australian Government, Indonesia-Australia Comprehensive Economic Partnership Agreement. Online at https://www.dfat.gov.au/trade/agreements/in-force/iacepa/indonesia-australia-comprehensive-economic-partnership-agreement

Baiquni, Muhammad Iqbal, and Waspiah Waspiah. "Two Decades of Business Competition Law: How Has Indonesian Competition Law Transformed?." Journal of Private and Commercial Law 7, no. 1 (2023): 45-68. https://doi.org/10.15294/jpcl.v7i1.44355

Batista, Juliana Peixoto. "Legal fragmentation and asymmetries in the WTO: spaghetti bowl or policy space?." Revista Direito GV 14 (2018): 169-191. https://doi.org/10.1590/2317-6172201807

Battisson, Andrew, and Leigh Missig. "Dispute Resolution under the ASEAN Comprehensive Investment Agreement 2009." Asian Dispute Review 12, no. 2 (2010). https://kluwerlawonline.com/journalarticle/Asian+Dispute+Review/12.2/ADR2010012

Born, Alexandra. “Reforming Investor-State Dispute Settlement (ISDS): European Union Flexing its Normative Power?”. PhD Thesis, Queen’s University Belfast, 2021.

Brown, Chester, and Kate Miles, eds. Evolution in investment treaty law and arbitration. Cambridge, MA: Cambridge University Press, 2011.

Butt, Simon, and Tim Lindsey. The Constitution of Indonesia: A Contextual Analysis. London: Bloomsbury Publishing, 2012.

Butt, Simon. "Foreign investment in Indonesia: The problem of legal uncertainty." In Foreign investment and dispute resolution law and practice in Asia. London: Routledge, 2012, pp. 112-134.

Chaisse, Julien, and Sufian Jusoh. "The ASEAN comprehensive investment agreement: The regionalisation of laws and policy on foreign investment." The ASEAN Comprehensive Investment Agreement. London: Edward Elgar Publishing, 2016.

Chaisse, Julien. "The Shifting Tectonics of International Investment Law-Structure and Dynamics oof Rules and Arbitration on Foreign Investment in the Asia-Pacific Region." The George Washington International Law Review 47, no. 3 (2015): 563-638.

Chandrawulan, An An. Hukum Perusahaan Multinasional: Liberalisasi Hukum Perdagangan Internasional & Hukum Penanaman Modal. Bandung: Penerbit Alumni, 2022.

Choer Moraes, Henrique, and Pedro Mendonça Cavalcante. "The Brazil-India Investment Co-operation and Facilitation Treaty: Giving Concrete Meaning to the ‘Right to Regulate’ in Investment Treaty Making." ICSID Review-Foreign Investment Law Journal 36, no. 2 (2021): 304-318. https://doi.org/10.1093/icsidreview/siab013

Choi, Won-Mog. "The present and future of the investor-state dispute settlement paradigm." Journal of International Economic Law 10, no. 3 (2007): 725-747. https://doi.org/10.1093/jiel/jgm024

Christian, Juan Pahala. "Tinjauan Kritis Sistem Penyelesaian Sengketa Investasi Internasional dan Dampaknya terhadap Kepentingan Nasional Indonesia." Judge: Jurnal Hukum 6, no. 2 (2025): 228-243. https://doi.org/10.54209/judge.v6i02.1359

Claxton, James M. "The standard of most-favored-nation treatment in investor-state dispute settlement practice." In Handbook of International Investment Law and Policy. Singapore: Springer Singapore, 2021, pp. 271-301.

Collins, David. An Introduction to International Investment Law. Cambridge, MA: Cambridge University Press, 2023.

Crockett, Antony. "Indonesia’s bilateral investment treaties: between generations?." ICSID Review-Foreign Investment Law Journal 30, no. 2 (2015): 437-448. https://doi.org/10.1093/icsidreview/siv003

Dao, Kim Anh. "The Evolution of ASEAN International Investment Agreements: Insights from the Past and Future Directions." VNU Journal of Science: Legal Studies 41, no. 1 (2025).

Daza‐Clark, Ana Maria. "Enforcing transboundary water obligations through investment treaty arbitration: China, Laos and the Mekong River." Review of European, Comparative & International Environmental Law 29, no. 3 (2020): 442-453. https://doi.org/10.1111/reel.12365

Desierto, D. A. "’For Greater Certainty’: Balancing Economic Integration and Investor Protection in the New ASEAN Investment Agreements." Transnational Dispute Management (TDM) 8, no. 5 (2011). https://www.transnational-dispute-management.com/article.asp?key=1768

Devendra, Isuru. "Consent in ICSID Arbitration–Case of Planet Mining Pty Ltd v Republic of Indonesia." Asian International Arbitration Journal 10, no. 2 (2014). https://kluwerlawonline.com/journalarticle/Asian+International+Arbitration+Journal/10.2/AIAJ2014010

Devi, Ria Sintha, et al. "Persaingan Usaha Tidak Sehat Berdasarkan Undang-Undang Nomor 5 Tahun 1999 Tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat." Jurnal Ilmiah METADATA 6, no. 1 (2024): 108-118. https://doi.org/10.47652/metadata.v6i1.469

Dewanti, Esty Hayu. "Persyaratan Kandungan Lokal (Local Content Requirements) di Indonesia dan Kaitannya dengan Perjanjian Internasional di Bidang Investasi." Yuridika 27, no. 3 (2012): 203-216. https://doi.org/10.20473/ydk.v27i3.300

Dhurotun Muniroh, Siti, and Ubaidillah Kamal. "The indication of unfair business competition practice in the implementation of public procurement auction using E-Tendering." Journal of Private and Commercial Law 2, no. 2 (2018): 78-93. https://doi.org/10.15294/jpcl.v2i2.15700

Diaconu, Laura. "The foreign direct investments in South-East Asia during the last two decades." Procedia Economics and Finance 15 (2014): 903-908. https://doi.org/10.1016/S2212-5671(14)00554-1

Disyon, Huta, and Elisatris Gultom. "Critical Review of the Implementation of the Making of SOE as a Holding from Anti-Monopoly and Unfair Business Competition Perspective." Jurnal Penelitian Hukum De Jure 22, no. 2 (2022): 191-204. https://doi.org/10.30641/dejure.2022.V22.191-204

Dolzer, Rudoff. "Fair and Equitable Treatment: A Key Standard in Investment Treaties." The International Lawyer 39, no. 1 (2005): 87-106. https://www.jstor.org/stable/40707790

Dolzer, Rudolf, Ursula Kriebaum, and Christoph Schreuer. Principles of International Investment Law. Oxford University Press, 2022.

Falefi, Reinpal, Hikmat Zakky Almubaraq, and Nora Lelyana. "Nickel Ban and Indonesia's Defense: A WTO Dispute with Implications for National Security." Journal of International Trade, Logistics and Law 9, no. 2 (2023): 1-9. https://doaj.org/article/4ab7669b7669468298263f2f48f0b861

Feldman, Mark. "International Investment Obligations and Industrial Policy: Evolution in Treaty Practice." RTA Exchange (International Centre for Trade and Sustainable Development and Inter-American Development Bank) (2018).

Fernando, Joy, and Muhammad Sood. "Penyelesaian Sengketa antara Perusahaan Minerba Asing dengan Pemerintah melalui ICSID (Churchill & Planet Mining)." Commerce Law 5, no. 1 (2025): 250-260. https://doi.org/10.29303/commercelaw.v5i1.3802

Fitriani, Annisa, et al. "The European Union's legal challenge to Indonesia's nickel export ban at the World Trade Organization." Research Horizon 5, no. 2 (2025): 63-70. https://doi.org/10.54518/rh.5.2.2025.63-70

Flores, Gonzalo. "Aguas Argentinas SA, Suez, Sociedad General de Aguas de Barcelona SA and Vivendi Universal SA v. Argentine Republic (ICSID Case No. ARB/03/19) Introductory Note." ICSID Review 21, no. 1 (2006): 339-341. https://doi.org/10.1093/icsidreview/21.1.339

Fox, E. M. "Equality, Discrimination, and Competition Law: Lessons from and for South Africa and Indonesia." Harvard International Law Journal 41, no. 2 (2000): 579-594. https://its.law.nyu.edu/facultyprofiles/index.cfm?fuseaction=profile.publications&personid=19924

Fox, Eleanor M., and Michael J. Trebilcock, eds. The Design of Competition Law Institutions: Global Norms, Local Choices. Oxford: Oxford University Press, 2013.

Franck, Susan D. "Occidental Exploration & Production co. v. Republic of Ecuador. Final Award. London Court of International Arbitration Administered Case No. UN 3467." American Journal of International Law 99, no. 3 (2005): 675-681. https://doi.org/10.2307/1602299

Franck, Susan. "The Legitimacy Crisis in Investment Treaty Arbitration: Privatizing Public International Law through Inconsistent Decisions." Fordham Law Review 73, no. 4 (2005): 1521-1625. https://ir.lawnet.fordham.edu/flr/vol73/iss4/10/

Frank, Susan D., and Daniel Bodansky. "International Decisions: Occidental Exploration & Production co. v. Republic of Ecuador." American Journal of International Law 99, no. 3 (2005): 675-681.

Fuentes, Ximena. "Proportionality Analysis and Disproportionate Damages: Occidental Petroleum Corporation and Occidental Exploration and Production Company v The Republic of Ecuador: ICSID Case No. ARB/06/11, Award, 5 October 2012 (L. Yves Fortier, David AR Williams, Brigitte Stern) and Dissenting Opinion, 20 September 2012 (Brigitte Stern)." The Journal of World Investment & Trade 16, no. 2 (2015): 315-324. https://brill.com/previewpdf/journals/jwit/16/2/article-p315_5.xml

Ghori, Umair. "Investment court system or ‘regional’ dispute settlement?: The uncertain future of investor-state dispute settlement." Bond Law Review 30, no. 1 (2018): 83-117. https://doi.org/10.53300/001c.5663

Gómez, Carolina Macho. "ADRs' Alternative Dispute Resolution 'in International Trade." Cuadernos Derecho Transnacional 5 (2013): 398. https://e-revistas.uc3m.es/index.php/CDT/en/article/view/1828

Guntrip, Edward. "Private actors, public goods and responsibility for the right to water in international investment law: an analysis of Urbaser v. Argentina." Brill Open Law 1, no. 1 (2018): 37-60. https://doi.org/10.1163/23527072-00101004

Hartini, Rahayu, Muhammad Arief, and Adi Permana. "Implementation of Business Competition Compliance Program to Prevent Unfair Business Competition Practices Against Business Enterprises." Audito Comparative Law Journal (ACLJ) 5, no. 1 (2024): 42-55. https://doi.org/10.22219/aclj.v5i1.29780

Henning-Bodewig, Frauke. Unfair Competition Law: European Union and Member States. Vol. 18. Leiden: Kluwer Law International BV, 2006.

Hoang Tu Linh, Tran. "Commercial arbitration in Asia: legal developments and regional dynamics from an ASEAN perspective." Asia Pacific Law Review (2025): 1-26. https://doi.org/10.1080/10192557.2024.2445627

Hoang, Hong Hiep, and Duc Hung Bui. "Determinants of foreign direct investment in ASEAN: A panel approach." Management Science Letters 5, no. 2 (2015): 213-222. https://doi.org/10.5267/j.msl.2014.12.015

Hsu, Locknie. "Source Code Provisions and Evolving Exceptions in Economic Agreements." Global Trade and Customs Journal 20, no. 2 (2025). https://doi.org/10.54648/gtcj2025016

Hutchinson, Terry. "The doctrinal method: Incorporating interdisciplinary methods in reforming the law." Erasmus Law Review 2015, no. 3 (2015): 130-138. https://doi.org/10.5553/ELR.000055

ICSID, Emilio Agustín Maffezini v. The Kingdom of Spain, ICSID Case No. ARB/97/7. Available online at https://www.italaw.com/cases/641.

ICSID, Técnicas Medioambientales Tecmed, S.A. v. The United Mexican States, ICSID Case No. ARB (AF)/00/2. Available online at https://www.italaw.com/cases/1087.

ICSID, Urbaser S.A. and Consorcio de Aguas Bilbao Bizkaia, Bilbao Biskaia Ur Partzuergoa v. The Argentine Republic, ICSID Case No. ARB/07/26. Available online at https://www.italaw.com/cases/1144.

Islam, Mollah Aminul, et al. "Does foreign direct investment deepen the financial system in Southeast Asian economies?." Journal of Multinational Financial Management 61 (2021): 100682. https://doi.org/10.1016/j.mulfin.2021.100682

Junita, Fifi. "The foreign mining investment regime in Indonesia: regulatory risk under resource nationalism policy and how international investment treaties provide protection." Journal of Energy & Natural Resources Law 33, no. 3 (2015): 241-265. https://doi.org/10.1080/02646811.2015.1057028

Keita, Kain, et al. "Sovereignity issues and legal framework challenges for foreign direct investment in developing countries." International Journal of Law and Society (IJLS) 2, no. 2 (2023): 142-154. https://doi.org/10.59683/ijls.v2i2.41

Koskenniemi, Martti, and Päivi Leino. "Fragmentation of international law? Postmodern anxieties." Leiden Journal of International Law 15, no. 3 (2002): 553-579. https://doi.org/10.1017/S0922156502000262

Kulzum, Alysha Fairuz Azura, Soesi Idayanti, and Kanti Rahayu. "Problematika Hukum Peningkatan Investasi Asing di Indonesia (Legal Problems of Increasing Foreign Investment in Indonesia)." TRAKTAT: Jurnal Hukum Ekonomi dan Bisnis 1, no. 1 (2024): 37-60. https://jurnal.sitasi.id/traktat/article/view/139

Kurnia, Kamal Fahmi. "Gagasan Metode Sunset Clauses dalam Sistem Perundang-Undangan di Indonesia." Justicia Sains: Jurnal Ilmu Hukum 2, no. 2 (2017): 213-236. https://doi.org/10.24967/jcs.v2i2.304

Lanini, Agus, et al. "Standardisation of Foreign Labour Investigation of Mineral Mining Company." Sriwijaya Law Review (2024): 183-196. https://doi.org/10.28946/slrev.Vol8.Iss1.2227.pp183-196

Lanini, Agus, et al. "Synchronization of TRIMs Principles in the Legislation of Mining Sector in Indonesia." International Journal of Scientific & Technology Research 5, no. 4 (2016): 84-88.

Le Moullec, Caroline. "Churchill Mining Plc and Planet Mining Pty Ltd v Republic of Indonesia, ICSID Case No. ARB/12/14 and 12/40, Award, 6 December 2016." European Investment Law and Arbitration Review 2, no. 1 (2017). https://doi.org/10.1163/24689017-00201005

Li, Shi, Long Zhao, and Hao Shen. "Foreign direct investment and institutional environment: the impact of bilateral investment treaties." Applied Economics 53, no. 30 (2021): 3535-3548. https://doi.org/10.1080/00036846.2021.1883535

Lindblad, J. Thomas. "Foreign direct investment in Indonesia: Fifty years of discourse." Bulletin of Indonesian Economic Studies 51, no. 2 (2015): 217-237. https://doi.org/10.1080/00074918.2015.1061913

Lipsey, Robert E., and Fredrik Sjöholm. "Foreign direct investment and growth in East Asia: Lessons for Indonesia." Bulletin of Indonesian Economic Studies 47, no. 1 (2011): 35-63. https://doi.org/10.1080/00074918.2011.556055

Livesey, Alastair. "Urbaser SA and Consorcio de Aguas Bilbao Bizkaia, Bilbao Biskaia Ur Partzuergoa v. The Argentine Republic." World Trade Review 17, no. 1 (2018): 175-178. https://doi.org/10.1017/S1474745617000556

Mahendrawati, Ni Luh Made. "Prohibition of Monopolistic Practices and Unfair Business Competition in Indonesia: A Legal Mechanism to Balance the Public Interest." International Journal of Criminology and Sociology 10 (2021): 1023-1028. https://doi.org/10.6000/1929-4409.2021.10.120

Marisi, Flavia. Rethinking investor-state arbitration. Vol. 27. New York: Springer Nature, 2023

Masron, Tajul Ariffin, and Zulkornain Yusop. "The ASEAN investment area, other FDI initiatives, and intra‐ASEAN foreign direct investment." Asian‐Pacific Economic Literature 26, no. 2 (2012): 88-103. https://doi.org/10.1111/j.1467-8411.2012.01346.x

Moldicz, Csaba. "Increasing Domestic Value Added: Modernizing the Economy." Indonesia’s Economy After Joko Widodo: Economic Growth and Transformation. Cham: Springer Nature Switzerland, 2025, pp. 43-73.

Murjiyanto, Raden. "The Effectiveness of Law Enforcement against Violations of the Law on Prohibition of Monopolistic Practices and Unfair Business Competition." 1st International Conference on Indonesian Legal Studies (ICILS 2018). Atlantis Press, 2018.

Nacimiento, Patricia, and Sven Lange. "White Industries Australia Limited v The Republic of India." ICSID Review 27, no. 2 (2012): 274-280. https://doi.org/10.1093/icsidreview/sis022

Nguyen, Manh Dzung, and Thi Thu Trang Nguyen. "International Investment Dispute Resolution in Vietnam: Opportunities and Challenges." The Journal of World Investment & Trade 18, no. 5-6 (2017): 918-941. https://doi.org/10.1163/22119000-12340066

Nurfadillah, Maulia, and Diana Setiawati. "Peluang Arbitrase dalam Penyelesaian Sengketa Investasi untuk Melindungi Investor Asing di Indonesia." Jurnal Ilmiah Nusantara 2, no. 2 (2025): 68-75. https://doi.org/10.61722/jinu.v2i2.3559

O’Callaghan, Terry, and Vlado Vivoda. "Problems of regulatory governance in the mining sector in Asia." Transnational Corporations 22, no. 1 (2015): 31-57. https://doi.org/10.18356/34aec3e7-en

Okamoto, Yukio. "Japan and the United States: the essential alliance." Washington Quarterly 25, no. 2 (2002): 59-72.

Pachauri, Shonali, et al. "Fairness considerations in global mitigation investments." Science 378, no. 6624 (2022): 1057-1059. https://doi.org/10.1126/science.adf0067

Paendong, Johanes E. "Perlindungan Hukum Bagi Pelaku Usaha Kecil dalam Persaingan Usaha di Indonesia Menurut Undang-Undang Nomor 5 Tahun 1999 Tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat." Lex Privatum 5, no. 4 (2017). https://ejournal.unsrat.ac.id/v2/index.php/lexprivatum/article/view/16096

Plantinga, Auke, and Bert Scholtens. "The finance perspective on fossil fuel divestment." Current Opinion in Environmental Sustainability 66 (2024): 101394. https://doi.org/10.1016/j.cosust.2023.101394

Plantinga, Auke, and Bert Scholtens. "The financial impact of fossil fuel divestment." Climate Policy 21, no. 1 (2021): 107-119. https://doi.org/10.1080/14693062.2020.1806020

Putri, Luh Putu Yeyen Karista, et al. "Comparative Analysis of Indonesia’s Minimum Capital Requirements for Foreign Direct Investment." Lex Scientia Law Review 7, no. 1 (2023): 179-214. https://doi.org/10.15294/lesrev.v7i1.64664

Qumba, Mmiselo Freedom. "South Africa's move away from international investor-state dispute: a breakthrough or bad omen for investment in the developing world?." De Jure Law Journal 52, no. 1 (2019): 358-379. https://doi.org/10.17159/2225-7160/2019/v52a19

Qurbani, Indah Dwi, Raphael J. Heffron, and Arrial Thoriq Setyo Rifano. "Justice and critical mineral development in Indonesia and across ASEAN." The Extractive Industries and Society 8, no. 1 (2021): 355-362. https://doi.org/10.1016/j.exis.2020.11.017

Rachman, Irfan Nur. "Politik Hukum Pengelolaan Sumber Daya Alam Menurut Pasal 33 UUD 1945." Jurnal Konstitusi 13, no. 1 (2016): 195-212. https://doi.org/10.31078/jk1319

Rahmawati, Nooraini Dyah, and Erbin Swara. "Indonesia’s Nickel Export Ban: Between Industrial Downstreaming and International Trade Disputes." Fortiori Law Journal 5, no. 1 (2025): 19-36. https://doi.org/10.47200/flj.v5i01.3051

Rajenthran, Arumugam. "Indonesia: An Overview of The Legal Framework for Foreign Direct Investment." ISEAS Working Papers. Economics and Finance (2002): 1.

Ramadhan, Haiqal Riski, Darminto Hartono Paulus, and Giovanni Marcello. "Prohibition of Monopolistic Practices in Business Trials in Indonesia: Reforming on Business Competition Supervisory Commission." Journal of Law and Legal Reform 4, no. 2 (2023): 163-182. https://doi.org/10.15294/jllr.v4i2.61043

Reinisch, August. "The EU on the Investment Path-Quo Vadis Europe? The Future of EU BITs and other Investment Agreements." Santa Clara Journal of International Law 12, no. 1 (2014): 111-157. https://digitalcommons.law.scu.edu/scujil/vol12/iss1/

Republic of Indonesia, Undang-undang Nomor 3 Tahun 2020 Tentang Perubahan Atas Undang-undang Nomor 4 Tahun 2009 Tentang Pertambangan Mineral dan Batubara. Jakarta: Sekretariat Negara, 2020. Online at https://www.peraturan.go.id/eng/uu-no-3-tahun-2020

Republic of Indonesia, Undang-undang Nomor 5 Tahun 1999 Tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat. Jakarta: Sekretariat Negara, 2020. Online at https://peraturan.go.id/id/uu-no-5-tahun-1999

Resar, Alexander W., and Tai-Heng Cheng. "Investor State Arbitration in a Changing World Order." Brill Research Perspectives in International Investment Law and Arbitration 3, no. 2-3 (2021): 1-89. https://doi.org/10.1163/24055778-12340009

Rizal, Khairu, and Arifudin Idrus. "Global Critical Mineral Review and Challenges on Its Exploration in Indonesia." Indonesian Mining Journal 27, no. 2 (2024): 97-123. https://doi.org/10.30556/imj.Vol27.No2.2024.1605

Rizki, Dzulfiki Muhammad, Kholis Roisah, and Nanik Trihastuti. "Pertanggungjawaban Negara atas Acta Jure Imperii Perusahaan Yang Diduga BUMN (Studi Terhadap Kasus Emilio Agustin Maffezini v. Kingdom of Spain)." Diponegoro Law Journal 10, no. 1 (2021): 108-123. https://doi.org/10.14710/dlj.2021.29808

Rizkia, Amanda Ayu, and Suci Rahmawati. "Faktor-Faktor Yang Mempengaruhi Anti Monopoli dan Persaiangan Bisnis Tidak Sehat: Globalisasi Ekonomi, Persaingan Usaha, dan Pelaku Usaha (Literature Review Etika)." Jurnal Ilmu Manajemen Terapan 2, no. 5 (2021): 631-643. https://doi.org/10.31933/jimt.v2i5.572

Rose‐Ackerman, S. "Political corruption and democracy." Connecticut Journal of International Law 14 (1999): 363. https://openyls.law.yale.edu/handle/20.500.13051/4975

Rose-Ackerman, Susan, ed. Public sector performance, corruption and state capture in a globalized world. Vol. 296. London: Routledge, 2024.

Rustagi, R. P. Investment Management Theory and Practice. New Delhi: Sultan Chand & Sons, 2021.

Rutledge, Peter B. Arbitration and the Constitution. Cambridge, MA: Cambridge University Press, 2013.

Sabahi, Borzu, and Kabir Duggal. "Occidental Petroleum v Ecuador (2012) Observations on Proportionality, Assessment of Damages and Contributory Fault." ICSID review 28, no. 2 (2013): 279-290. https://doi.org/10.1093/icsidreview/sit021

Salacuse, Jeswald W. The Law of Investment Treaties. Oxford: Oxford University Press, 2021.

Sallam, Kareem. "The Scope and Justification of Legitimate Expectations Protection under FET Clauses: Case Law Study." International Journal of Doctrine, Judiciary and Legislation 3, no. 1 (2022): 110-122.

Schill, Stephan W. "Ioana Tudor. The Fair and Equitable Treatment Standard in the International Law of Foreign Investment." European Journal of International Law 20, no. 1 (2009): 236-239. https://doi.org/10.1093/ejil/chp009

Schrama, Wendy. "How to carry out interdisciplinary legal research Some experiences with an interdisciplinary research method." Utrecht Law Review (2011): 147-162. https://doi.org/10.18352/ulr.152

Schreuer, Christoph H. The ICSID Convention: A Commentary. Cambridge, MA: Cambridge University Press, 2009.

Soeparna, Intan. "ASEAN investment dispute settlement: A challenge to the ASEAN enhanced dispute settlement mechanism." Chinese (Taiwan) Yearbook of International Law and Affairs (2019).

Sorgho, Zakaria. "The spread of international trade agreements: A dynamics towards the ‘spaghetti bowl’ phenomenon?." Handbook of International Trade Agreements. London: Routledge, 2018.

Sornarajah, Muthucumaraswamy. "Disintegration and change in the international law on foreign investment." Journal of International Economic Law 23, no. 2 (2020): 413-429. https://doi.org/10.1093/jiel/jgaa014

Sornarajah, Muthucumaraswamy. The International Law on Foreign Investment. Cambridge, MA: Cambridge University Press, 2021.

Subagyo, Herry. "Pengembangan etika bisnis dalam manajemen investasi." Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan 4, no. Special Issue 5 (2022): 2101-2110.

Suwarsit, Suwarsit, and Yoyo Arifardhani. "Implications of Divestment Regulations Indonesia on Foreign Mining Companies as Contract Holders." Russian Law Journal 11, no. 5 (2023): 353-366.

Tektona, Rahmadi. "Quo Vadis: Kepastian Hukum Aturan Praktik Monopoli Dan Persaingan Usaha Tidak Sehat Pada Undang-Undang Nomor 11 Tahun 2020 Tentang Cipta Kerja." Jurnal Persaingan Usaha 2, no. 1 (2022): 43-54. https://doi.org/10.55869/kppu.v3i-.51

Terry, Andrew. "Unfair Competition and the Misappropriation of a Competitor's Trade Values." The Modern Law Review 51, no. 3 (1988): 296-322. https://doi.org/10.1111/j.1468-2230.1988.tb01758.x

Thalib, Salim Saleh. "Implementasi Prinsip Perlindungan Investasi Asing di Indonesia." Jurnal Ilmu Hukum, Humaniora dan Politik (JIHHP) 5, no. 1 (2024). https://doi.org/10.38035/jihhp.v5i1.3148

The ASEAN Secretariat. ASEAN Investment Report 2024 - ASEAN Economic Community 2025 and Foreign Direct Investment. Jakarta: ASEAN Secretariat, October 2024

Thomsen, Stephen, Misuzu Otsuka, and Boram Lee. "The evolving role of Southeast Asia in global FDI flows." Center for Asian Studies (2011): 1-51.

Tijaja, Julia, and Mohammad Faisal. "Industrial policy in Indonesia: A global value chain perspective." Asian Development Bank Economics Working Paper Series 411 (2014).

Timmer, Laurens JE. "The meaning of ‘Investment’ as a requirement for jurisdiction ratione materiae of the ICSID Centre." Journal of International Arbitration 29, no. 4 (2012). https://doi.org/10.54648/JOIA2012024

Titi, Catharine. "Are investment tribunals adjudicating political disputes?." Journal of International Arbitration 32, no. 3 (2015). https://doi.org/10.54648/JOIA2015011

UNCITRAL, Occidental Exploration and Production Company v. The Republic of Ecuador, LCIA Case No. UN3467. Available online at https://www.italaw.com/cases/761. S

Van Harten, Gus. "The public—private distinction in the international arbitration of individual claims against the state." International & Comparative Law Quarterly 56, no. 2 (2007): 371-393. https://doi.org/10.1093/iclq/lei168

Van Harten, Gus. The Trouble with Foreign Investor Protection. Oxford: Oxford University Press, 2020.

Verrill Jr, Charles Owen. "The International Centre for Settlement of Investment Disputes: AES Summit Generation Ltd. v. Republic of Hungary." International Legal Materials 50, no. 2 (2011): 181-225.

Villablanca Gutiérrez, José Pedro. "The use of MFN clauses in investment arbitration: the problem of importation." Journal of International Dispute Settlement 15, no. 3 (2024): 424-439. https://doi.org/10.1093/jnlids/idae008

Wang, Liuhui. "On the Functional Reinforcement of the Principle of Proportionality to Investors’ Legitimate Expectations in International Investment Arbitration." Studies in Law and Justice 2, no. 4 (2023): 50-57.

Weiler, Todd. "Methanex Corp. v. USA: Turning the Page on NAFTA Chapter Eleven." Journal of World Investment & Trade 6 (2005): 903.

Wellhausen, Rachel L. "Recent trends in investor–state dispute settlement." Journal of International Dispute Settlement 7, no. 1 (2016): 117-135. https://doi.org/10.1093/jnlids/idv038

Wibowo, Suyanto Edi. "Memahami Makna Pasal 33 Undang-Undang Dasar Negara Republik Indonesia Tahun 1945 Perihal Penguasaan oleh Negara Terhadap Sumber Daya Alam: Comprehend the Meaning of Article 33 of the 1945 Constitution of the Republic of Indonesia on State Authority Over Natural Resources." Jurnal Legislasi Indonesia 12, no. 4 (2018): 1-57.

Widiatedja, I. Gusti Ngurah Parikesit. "Indonesia’s export ban on nickel ore: Does it violate the world trade organization (WTO) rules?." Journal of World Trade 55, no. 4 (2021). https://doi.org/10.54629/jli.v12i4.424

Widorini, Raden Roro Theresia Tri. "Legal Status of the Holding Company of Mining State-Owned Enterprises Under the Context of Direct Capital Participation Sourcing from the Separate State’s Assets." 2018 International Conference on Energy and Mining Law (ICEML 2018). Atlantis Press, 2018.

Widyastuti, Dewi Kurnia. “Foreign Investment Regulation in Indonesia: Making a Case for Reform in Regulating Foreign Investment in Public Companies”. PhD Thesis. Macquarie University, 2019.

Wiyanti, Rahma, and Rosita Wulandari. "Analysis Of Enterprise Financial Performance Before and After to Build of State Owned Enterprises (Soes) Holding in the Affiliation of the Holding Mining Industry Indonesia." Call for Papers–2nd International Seminar on Accounting for Society. Vol. 5.

Wong, Kwok Tung, and Eco Hamersma. "On Acts of Expropriation: Balancing State Regulation and Investor Protection in International Law." Kobe University Law Review 55 (2024): 73-85. https://doi.org/10.24546/0100494125

Yannaca-Small, Katia. "Parallel proceedings." In The Oxford Handbook of International Investment Law, Peter Muchlinski (ed.) et al. Oxford: Oxford University Press, 2008, pp. 1008-1048

Yeo, Alvin, and Smitha Menon. "Indonesia–Arbitrating with Foreign Parties: A Closer Look at Indonesia’s Approach to Investor-State Dispute Settlement." Asian Dispute Review 18, no. 3 (2016). https://doi.org/10.54648/ADR2016025

Yue, Chia Siow. "Trade, foreign direct investment and economic development of Southeast Asia." The Pacific Review 12, no. 2 (1999): 249-270. https://doi.org/10.1080/09512749908719290

Zhong, Zewei. "The ASEAN comprehensive investment agreement: realizing a regional community." Asian Journal of Comparative Law 6 (2011): 1-39. https://doi.org/10.1017/S219460780000048X

Zon, Fadli, Muhammad Iskandar, and Susanto Zuhdi. "Tinjauan Sejarah Hukum Pasal 33 UUD 1945 sebagai Ideologi Ekonomi (The Legal History Review of Article 33 UUD 1945 as Economic Ideology)." Negara Hukum: Membangun Hukum Untuk Keadilan dan Kesejahteraan 7, no. 1 (2017): 111-125. https://doi.org/10.22212/jnh.v7i1.925

Бактыбекова, Дилжан. "The notion of a dispute in determining jurisdiction ratione temporis in international investment arbitration." Журнал ВШЭ по международному праву (HSE University Journal of International Law) 3, no. 2 (2025): 51-78. https://jil.hse.ru/article/download/28169/22970

Downloads

Published

2026-07-19

Article ID

34683