The Sui Generis Nature of Indonesia Investment Authority

Abstract

The Indonesian government in early 2021 has established the Indonesia Investment Authority (INA) as a government-owned institution that plays a role in investment activities to increase economic growth. Institutionally, INA is a sui generis institution that has elements of public law subjects (using a budget originating from state finances) and on the other hand INA has characteristics as private legal subjects in carrying out investments. The focus of this research is how to regulate government budgeting which is used as capital in INA and how is INA's responsibility in using the budget that comes from state finances in carrying out operations and investments. This research is a normative study with a statutory approach and a comparative approach to setting up similar institutions in other countries. The results of the study indicate that the government budgeting arrangements used as capital in INA still have several legal loopholes. On the other hand, INA should also be held accountable for the use of state finances in carrying out operations and investments while still taking into account the provisions of the regulations regarding the accountability for the use of state finances.