Global pandemics and moratorium of investment claims: A perspective from Indonesia

The outbreak of the Corona Virus Disease 2019 (COVID-19) has given rise to the intersection of foreign investment protection in connection with adverse regulatory changes and the right of host states to regulate the public interest. Countries have enacted a multitude of policies in pursuit of public...

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Bibliographic Details
Published inCogent business & management Vol. 10; no. 1; pp. 1 - 24
Main Author Dewi, Yetty Komalasari
Format Journal Article
LanguageEnglish
Published Abingdon Taylor & Francis 31.12.2023
Cogent
Taylor & Francis Ltd
Taylor & Francis Group
Subjects
Coronaviruses
COVID-19
Indonesia
investment arbitration
ISDS
moratorium
Pandemics
Sailors
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Summary:The outbreak of the Corona Virus Disease 2019 (COVID-19) has given rise to the intersection of foreign investment protection in connection with adverse regulatory changes and the right of host states to regulate the public interest. Countries have enacted a multitude of policies in pursuit of public health and in handling the repercussions of the pandemic including losses to foreign investors, thus giving rise to arbitral claims. In response, governments may impose customary law defense through the doctrine of police powers under the banner of health reasons. This article features an analysis of Indonesia as a sample country to illustrate possible claims that could arise from its regulatory responses to COVID-19 and possible protections that it can rely upon. In recalibrating the investor-State dispute settlement system, a moratorium on investment claims arising from the pandemic should be endorsed as part of a wider set of reforms.
ISSN:2331-1975
2331-1975
DOI:10.1080/23311975.2022.2156703