NATIONAL SEMINAR OF THE FACULTY OF LAW
Legal Reform Towards a Global Economy
The Faculty of Law and the Faculty of Economics of UNPRI held a National Seminar with the theme:
LEGAL REFORM TOWARDS A GLOBAL ECONOMY
Speakers:
- Prof. Hikmahanto Juwana, S.H, LLM, Ph.D
- Prof. Dr. Bismar Nasution, S.H, M.H
- Dr. Zulkarnaen Sitompul, S.H, LLM
Two Professors from two leading Law Faculties of universities in Indonesia, namely Prof. Hikmahanto Juwana SH LLM PhD (Professor of Law at the University of Indonesia), Prof. Dr. Bismar Nasution SH MH (Professor of Law at the University of Indonesia), and DR. Zulkarnain Sitompul SH LLM (lecturer of Law at the University of Indonesia) presented their papers at the National Seminar "Legal Reform Towards a Global Economy" held by the Faculty of Law (FH) and the Faculty of Economics (FE) of the University of Prima Indonesia (Unpri) in collaboration with Bina Hukum, Thursday, December 15, 2011 at the Danau Toba Internasional Hotel Medan.
The event was opened by the Acting Governor of North Sumatra represented by the Regional Secretary of North Sumatra Province H. Nurdin Lubis, S.H, M.M. Present at the event were the Advisor, dr. I. Nyoman Ehrich Lister, M.Kes, AIFM, UNPRI Chancellor Prof. dr. Djakobus Tarigan, AAI, DAAK and his staff, Dean of the Faculty of Law Unpri Tommy Leonard SH MKn, Dean of the Faculty of Economics Cut Fitri Rostina, S.E, M.M and Deans in the UNPRI environment and their staff.
Professor of the USU FH Prof. Dr. Bismar Nasution SH MH in his paper stated that it is time for the government, DPR, DPRD to hold legal reforms towards a global economy, including regarding Special Economic Zones (KEK).
"The strategy in law or rule of the game in developing SEZs is to make the legal substance in accordance with the legal elements or requirements," said Bismar Nasution.
According to him, with that, it can be used as material for the government, the National Council, the Regional Council and the SEZ Administrator to determine policies, norms, standards, procedures and criteria related to the development of SEZs that are not hampered, which in turn, will expand business opportunities and be able to invite investment, both from domestic, regional and international.
Bismar said, the legal substance must have determined the ease of doing business, by means of convenience, among others, for licensing, fiscal incentives and import-export procedures, through integrated services which are one-stop services, or creating a one-stop shop at the integrated registration agency, unifying and simplifying procedures, for company registration and the company's employees themselves, who will be active in the KEK.
Meanwhile, Professor of FH UI Prof. Hikmahanto Juwana SH LLM PhD in his paper on Legal Aspects of International Business Transactions said that international business transactions have given rise to complex legal problems in relation to bankruptcy. This problem, he said, must be resolved.
For Indonesia, said Hikmahanto, one of two options can be chosen. First, to form a provision in its bankruptcy law that accommodates the possibility of a foreign court bankruptcy decision, to be recognized and implemented by an Indonesian court, as long as it meets the regulated requirements. "If this alternative is taken, then it would be better for lawmakers to refer to the model law prepared by Uncitral," he said.
According to Hikmahanto, the alternative that Indonesia has is Indonesia's participation in international agreements that are bilateral or multilateral in nature that regulate bankruptcy decisions from a country's court, which allow for execution in a commercial court, and vice versa, bankruptcy decisions by a commercial court can be executed in a foreign court.
Meanwhile, FH UI Lecturer DR Zulkarnain Sitompul SH LLM, in the paper he presented, stated that the presence of a multilateral trading system was initially triggered by the power against the threat of war.
Meanwhile, FH UI Lecturer DR Zulkarnain Sitompul SH LLM, in the paper he presented, stated that the presence of a multilateral trading system was initially triggered by the power against the threat of war.
According to him, the existence of a multilateral trading system is needed by developing countries, to reduce the use of unilateral actions, which are often carried out by developed countries in resolving trade issues. "For developing countries, joining an international organization has a positive impact. Not only as a means of opening market access for export goods, but also as protection from unilateral pressure, carried out by developed countries," he said.
Previously, the Dean of FH Unpri Tommy Leonard SH MKn in his speech said that economic globalization today is a new manifestation of the development of capitalism, as an international economic system.
Globalization causes the development of interdependence
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