Indonesia needs fair competition law: Tunky<\/p>\n
JAKARTA (JP): Indonesia badly needs a fair competition law to
\nimprove the country's efficiency, Minister of Industry Tunky
\nAriwibowo said yesterday.<\/p>\n
\"To ensure high efficiency, our country clearly needs a law on
\nfair competition,\" Tunky said in a keynote address at a seminar
\non economic law reform organized by the Inter-Pacific Bar
\nAssociation.<\/p>\n
Many parties have expressed concern about the absence of fair
\ncompetition legislation, said to be needed to provide a level
\nplaying field for all economic players.<\/p>\n
Tunky called on the local legal community to help improve the
\ncountry's economic legal framework.<\/p>\n
\"Indonesia's business community is waiting for the
\ncontribution of our legal experts from all layers of society so
\nthat we may improve our legal system, particularly in facing the
\nunavoidable impact of the era of globalization,\" the minister
\nsaid.<\/p>\n
He added that legal experts could use the results of the
\ngovernment's deregulation and bureaucratic reform programs as one
\nof their sources in planning improvements to the country's legal
\nsystem.<\/p>\n
He said that, while Indonesia's economic reforms had included
\nthe enactment of laws on limited liability companies and the
\ncapital market, it still needs to enact more economic laws. The
\nlaws needed include new laws on investment, secured transactions
\nand alternative dispute resolution, he said.<\/p>\n
\"These legal issues are of the utmost importance in our
\ndevelopment process as we enter the era of globalization,\" Tunky
\nsaid.<\/p>\n
Concurring with Tunky's suggestion, Normin S. Pakpahan,
\nchairman of the Economic Law and Improved Procurement Systems
\nProject, said that Indonesia needs to speed up its economic law
\nreforms to ensure legal certainty.<\/p>\n
Normin said Indonesia's arbitration, bankruptcy and contracts
\nlaws, for instance -- which are still based on colonial laws --
\nare inadequate for the needs of the modern business community.<\/p>\n
\"In many instances, the out-dated laws are simply ignored and
\neach conflict is resolved on an ad hoc basis,\" Normin said.<\/p>\n
\"A very positive development is that the Minister of Justice
\nhas appointed a committee to prepare a draft of an arbitration
\nlaw, which is a subject of utmost importance to the business
\ncommunity,\" he added.<\/p>\n
He said that, through the current step-by-step efforts at
\neconomic law reform, Indonesia is attempting to modernize its
\ncommercial law system to facilitate private and public
\ninvestment, improve productivity, encourage innovation and
\naugment its international competitiveness.<\/p>\n
Meanwhile, Sunaryati Hartono, head of the National Law Reform
\nAgency at the Ministry of Justice, said that legal reform
\ninvolves, not only changes to legislation, but also reforms of
\nthe people's values and attitudes.<\/p>\n
At the same time, she said, legal reforms should also touch on
\nthe modernization of legal institutions, including their
\nprocedures and mechanisms, as well as of the whole legal
\ninfrastructure, including the legal education system. (rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indonesia-needs-fair-competition-law-tunky-1447893297",
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"sponsor": "Okusi Associates",
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