A new bilateral investment treaty between Indonesia and Switzerland, namely the Indonesia-Swiss Agreement on the Promotion and Reciprocal Protection of Investments (“2022 BIT“), came into force in August 2024. The 2022 BIT is part of the two states’ joint effort to strengthen investment ties and open up new opportunities for businesses in both countries.
Following seven rounds of negotiations, the 2022 BIT was ratified in Indonesia through President Regulation No. 2 of 2024 and officially replaced the previous 1974 bilateral investment treaty.
This updated treaty reflects the growing economic relationship between the two countries. Indonesia has been a key economic partner for Switzerland for over 15 years, highlighting the need for a modern framework to govern investments. The 2022 BIT provides greater certainty and clarity for Swiss and Indonesian investors, covering a wider range of investments and offering stronger protections.
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