Tinjauan Hukum Investasi Dampak Judicial Review Undang-Undang Nomor 25 Tahun 2007 Tentang Penanaman Modal

Abstract

This study emphasizes the impact of the judicial review of Law Number 25 of 2007 concerning investment toward the review of the investment law(Undang-Undang Penanaman Modal UUPM). This research is a qualitative research by following the typology of normative legal research, the research data is collected by means of literature and document studies, relevant theory relevant and written descriptively and analyzed qualitatively. The results of this study indicate that the State provides facilities for foreign investors regarding land rights. Hak Guna Usaha (HGU) is given a maximum period of 95 years, Hak GunaBangunan (HGB) is 80 years, and the right to use is given for 70 years and can be extended in advance. This provision certainly has a positive impact on the investment climate in Indonesia to attract foreign investors to invest. However, the provisions of the UUPM are considered to be contradicting Article 33 of the 1945 Constitution, which states that natural wealth relating to the livelihood of many people is controlled by the state. The provisions of the UUPM were deemed to have violated Article 33 of the 1945 Constitution so that through a judicial review the Constitutional Court canceled the provision. This judicial review is considered to be a setback in investment provisions in Indonesia. Land rights are important for foreign investors, therefore the cancellation of the UUPM is something that cannot attract foreign investors to invest in Indonesia. In this way, Indonesia's efforts to develop the economy are deemed unattainable. It also indicates that legal certainty in Indonesia is also difficult to obtain with statutory provisions that are rapidly changing or can be overturned by a decision of the Constitutional Court through a judicial review.

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