ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy
The United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WG III) has been meeting intensively to formulate comprehensive reforms to Investor-State Dispute Settlement (ISDS) based on emerging criticisms. In July 2017, UNCITRAL established Working Group III with a mandate...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Faculty of Law, Universitas Lampung
2025-02-01
|
| Series: | Lampung Journal of International Law |
| Subjects: | |
| Online Access: | https://jurnal.fh.unila.ac.id/index.php/lajil/article/view/3422 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832542541758595072 |
|---|---|
| author | Garuda Wiko Fatma Muthia Kinanti |
| author_facet | Garuda Wiko Fatma Muthia Kinanti |
| author_sort | Garuda Wiko |
| collection | DOAJ |
| description | The United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WG III) has been meeting intensively to formulate comprehensive reforms to Investor-State Dispute Settlement (ISDS) based on emerging criticisms. In July 2017, UNCITRAL established Working Group III with a mandate to identify and evaluate ISDS-related concerns, consider the need or desirability of reforms, and develop relevant solutions. Some of the issues that have been identified in relation to the current ISDS mechanism include lack of consistency and predictability of arbitral awards by ISDS forums, lack of independence and impartiality of arbitrators, cost and duration of proceedings, and third-party financing. The WG III forum has formulated several options to address these issues: 1) establishment of a court mechanism, 2) appointment of arbitrators and adjudicators, 3) parties' involvement and control, 4) dispute prevention and mitigation: strengthening dispute prevention and mitigation mechanisms, 5) cost management and third-party financing transparency: efforts to manage costs and related procedures, as well as transparency in third-party financing. The findings indicate that Indonesia actively participates in WG III by advocating for balanced reforms that safeguard state sovereignty and public interest while addressing investor rights. Key recommendations include enhancing transparency and leveraging regional alliances to strengthen Indonesia’s position in international investment frameworks. |
| format | Article |
| id | doaj-art-ceb2c743a3304a55a1aa3f7b6622e838 |
| institution | Kabale University |
| issn | 2656-6532 2723-2603 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | Faculty of Law, Universitas Lampung |
| record_format | Article |
| series | Lampung Journal of International Law |
| spelling | doaj-art-ceb2c743a3304a55a1aa3f7b6622e8382025-02-04T02:28:31ZengFaculty of Law, Universitas LampungLampung Journal of International Law2656-65322723-26032025-02-016210912010.25041/lajil.v6i2.34222152ISDS Reform UNCITRAL: Implications For Indonesian Investment PolicyGaruda Wiko0Fatma Muthia Kinanti1Faculty of Law, Universitas TanjungpuraFaculty of Law, Universitas TanjungpuraThe United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WG III) has been meeting intensively to formulate comprehensive reforms to Investor-State Dispute Settlement (ISDS) based on emerging criticisms. In July 2017, UNCITRAL established Working Group III with a mandate to identify and evaluate ISDS-related concerns, consider the need or desirability of reforms, and develop relevant solutions. Some of the issues that have been identified in relation to the current ISDS mechanism include lack of consistency and predictability of arbitral awards by ISDS forums, lack of independence and impartiality of arbitrators, cost and duration of proceedings, and third-party financing. The WG III forum has formulated several options to address these issues: 1) establishment of a court mechanism, 2) appointment of arbitrators and adjudicators, 3) parties' involvement and control, 4) dispute prevention and mitigation: strengthening dispute prevention and mitigation mechanisms, 5) cost management and third-party financing transparency: efforts to manage costs and related procedures, as well as transparency in third-party financing. The findings indicate that Indonesia actively participates in WG III by advocating for balanced reforms that safeguard state sovereignty and public interest while addressing investor rights. Key recommendations include enhancing transparency and leveraging regional alliances to strengthen Indonesia’s position in international investment frameworks.https://jurnal.fh.unila.ac.id/index.php/lajil/article/view/3422investmentdispute settlementuncitral model law |
| spellingShingle | Garuda Wiko Fatma Muthia Kinanti ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy Lampung Journal of International Law investment dispute settlement uncitral model law |
| title | ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy |
| title_full | ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy |
| title_fullStr | ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy |
| title_full_unstemmed | ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy |
| title_short | ISDS Reform UNCITRAL: Implications For Indonesian Investment Policy |
| title_sort | isds reform uncitral implications for indonesian investment policy |
| topic | investment dispute settlement uncitral model law |
| url | https://jurnal.fh.unila.ac.id/index.php/lajil/article/view/3422 |
| work_keys_str_mv | AT garudawiko isdsreformuncitralimplicationsforindonesianinvestmentpolicy AT fatmamuthiakinanti isdsreformuncitralimplicationsforindonesianinvestmentpolicy |