Yes, that would be the "inner side" of the arm (i.e. as viewed palm up). It is so named because, in standard anatomical position, the arms and hands are rotated so that the palms face outward; thus, the "inside" of the arms is part of the anterior ("front") plane of the body.

"The anterior surface of the forearm usually has less hair than the posterior surface."
http://www.wikiradiography.com/page/Elbow/Forearm

Anterior aspect of the forearm
http://www.oluwoleogunranti.com/course/course1/lesson10a.htm