ANNOUNCEMENT 19 Mar 2014In March 2014, the government of Indonesia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Press Release Netherlands Embassy:
UNCTAD list of BITs
On 19 March 2014, Indonesia decided to terminate all existing Bilateral Investment Treaties (BITs). The termination is done in the form of a non-renewal and will therefore hit the different partners at different points in time. The first termination affects the Netherlands as their BIT will expire on 1 July 2015.
According to Mahendra Siregar, chairman of Indonesia's investment co-ordination agency: 'The government's aim was not to weaken investor protection but to ensure there was consistency between local and international laws and regulations.' (Financial Times, 26.3.2014)
The list of affected countries is based on the UNCTAD list of Indonesian BITs.