Konflik Kepentingan antara Perlindungan Investor Asing dan Kedaulatan Negara dalam Kebijakan Larangan Ekspor Bahan Mentah
DOI:
https://doi.org/10.37481/sjr.v9i4.1571Keywords:
State Sovereignty, Foreign Investment, Export Ban, Right to Regulate, Indirect ExpropriationAbstract
The policy prohibiting the export of raw materials has generated an ongoing debate between the state's sovereign authority to regulate natural resources and the obligation to protect foreign investors under international investment law. This study aims to examine the legal balance between state sovereignty and foreign investor protection in the implementation of Indonesia's raw material export ban. The research employs a normative juridical approach using statutory, conceptual, and case approaches. Legal materials were collected through the analysis of national legislation, including the Investment Law and the Mineral and Coal Mining Law, as well as international legal instruments such as bilateral investment treaties and international investment arbitration principles. The findings indicate that the export ban constitutes a legitimate exercise of state sovereignty to promote downstream industrialization and increase domestic value added. However, the policy may trigger investment disputes when it substantially affects investors' legitimate expectations or is perceived as indirect expropriation. The study further demonstrates that international investment law recognizes the state's right to regulate, provided that regulatory measures are implemented proportionally, non-discriminatorily, transparently, and in good faith. Accordingly, harmonization between national regulations and international investment obligations is essential to ensure legal certainty for investors while preserving the state's regulatory autonomy in pursuing sustainable economic development.
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