As the second session of the National Seminar “Golden Visa: Between Hope and Reality in Indonesian Investment” began, the discussion narrowed to issues of governance, legal certainty, and the challenges of implementing policies on the ground. The seminar was organized by the Master’s Program in Law at the Faculty of Law, UGM (Jakarta Campus) on Saturday (August 23, 2025).
The second session was moderated by Razikin, President of the KMMIH Family, who emphasized in his opening remarks that while many countries are now beginning to phase out their Golden Visa programs, Indonesia views this as an initial phase to foster new investment opportunities. From this perspective, the panelists offered diverse views on the effectiveness of the Golden Visa as a strategic instrument for national development.
The first speaker, Laurentius Amrih Jinangkung, Director General of Law and International Agreements at the Ministry of Foreign Affairs, emphasized the importance of legal protection for foreign investors. According to him, the Golden Visa program will not function effectively without legal certainty, clear market access, and adequate dispute resolution mechanisms. He added that Indonesia has 23 Bilateral Investment Treaties (BITs) with various countries and continues to strive to expand such cooperation to strengthen cross-border investment protection.
A different perspective was offered by Ir. Basuki Tjahaja Purnama, who argued that the main issues facing investment in Indonesia actually lie in internal factors such as corruption, a complex permitting process, and suboptimal governance. In his view, the Golden Visa has the potential to be only a partial solution if the government does not promptly address these underlying problems.
To round out the discussion, Prof. Jaka Triyana, a professor at the UGM Faculty of Law, presented the results of his research on five priority tourist destinations: Toba, Borobudur, Labuan Bajo, Bali, and Mandalika. The research identified various issues with the conventional visa system, such as inadequate monitoring of foreign tourists, misuse of residence permits, and illegal property transfers. Therefore, Prof. Jaka emphasized that the Golden Visa program must be strictly regulated and based on clear legal mechanisms to truly deliver benefits. He also recommended bureaucratic reforms through the digitization of services, streamlining of permits, optimization of the budget, and strengthening of integrated one-stop services.
From a sustainable development perspective, this second session highlighted the close link between the Golden Visa policy and several Sustainable Development Goals (SDGs). Efforts to strengthen legal certainty and transparent governance align with SDG 16 (Peace, Justice, and Strong Institutions). Recommendations for digitization and bureaucratic streamlining support SDG 9 (Industry, Innovation, and Infrastructure), while the push to create inclusive benefits for the broader public supports SDG 10 (Reduced Inequalities). Furthermore, international cooperation through Bilateral Investment Treaties reflects a tangible contribution to SDG 17 (Partnerships for the Goals).
Thus, this seminar conveys an important message that the Golden Visa should not be viewed solely as an immigration and investment instrument, but also as an integral part of Indonesia’s broader sustainable development strategy. Through robust regulations, good governance, and the active involvement of academics, practitioners, and the public, the Golden Visa can become a catalyst for realizing a more just, inclusive, and highly competitive Indonesia in achieving the “Golden Indonesia 2045” vision, which aligns with the global sustainable development agenda.
Author: Ramzy (MIH UGM Jakarta Campus)
Editor: Public Relations
