Minister pushes for Singapore-like arbitration rules

Chinese Foreign Minister Wang Yi (left) meets Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan (right) ahead of the fourth high-level dialogue and cooperation mechanism between Indonesia and China in Labuan Bajo, East Nusa Tenggara, on April 19, 2024. — The Jakarta Post

JAKARTA: Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan has proposed creating a legal framework that includes arbitration rules like those enforced in Singapore to help attract more investment, including family offices, to Indonesia.

Speaking at the launch for the Mineral and Coal Information System (Simbara), Luhut claimed that making arbitration, where disputes between parties from different countries are resolved outside of the jurisdiction via an impartial third party, final or non-appealable was “simple” and would bring legal certainty.