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INDONESIA: OMNIBUS LAW 2020: Overview Series

On 5 October 2020, the Legislation Body of the House of Representatives of the Republic of Indonesia (“DPR”) and the Indonesian government agreed to pass the Omnibus Bill on Job Creation, commonly known as the Omnibus Law. The bill is a breakthrough effort by the government to comprehensively amend 76 sectoral laws and amend or revoke hundreds of regulations to create job opportunities and improve Indonesia’s investment ecosystem.

The bill will be delivered to the President within seven days after the date of the plenary meeting at DPR on 5 October 2020. The President is expected to sign the bill into law, failing which, it will automatically become law within 30 days after the draft bill is jointly agreed by the President and DPR.

The Omnibus Law is by far the most ambitious and complicated piece of legislation in Indonesia, covering many sensitive areas, such as employment, that previous governments have refused to touch. It consists of 15 chapters and 186 articles, spanning over 900 pages. It mainly covers the following:

  1. investment growth and licensing leniency;
  2. protection and enforcement of small-medium scale enterprises and cooperative;
  3. employment;
  4. research and innovation;
  5. ease of doing business;
  6. land procurement;
  7. economic area;
  8. central government investment and national strategic projects;
  9. government administration; and
  10. sanctions.
Indonesia | Support Measures | 07 October 2020
INDONESIA: The Urge to Merge: OJK Regulations Encourages Merger Between Banks

Following the enactment of Government Regulation in lieu of Law No. 1 of 2020, Indonesia's financial services authority, the OJK, has enacted several regulations designed to safeguard the stability of the financial system and deal with the threat of an economic crisis.

In this update, we will discuss OJK Regulation No. 18/POJK/03/2020 on Written Order to Handle Problematic Banks ("POJK 18/2020") and OJK Regulation No. 12/POJK.03/2020 on the Consolidation of Commercial Banks ("POJK 12/2020") in the context of the banking sector. While POJK 18/2020 was issued in the context of the current coronavirus crisis, POJK 12/2020 has been on OJK's radar before the pandemic.

Indonesia | Support Measures | 13 May 2020
INDONESIA: Control and Support Measures in Indonesia Amid the COVID-19 Pandemic

The Indonesian government’s response to the COVID-19 pandemic has been steadily intensifying in the past weeks. Pursuant to Regulation of the DKI Jakarta Governor No. 33 of 2020 and Decree No. 380 of 2020, Jakarta became the first province in Indonesia to impose massive social restriction. This is evidenced by the closing of schools, offices except for those conducting essential services) and places of worship, passenger’s limitation for public and personal transportation and prohibition of mass gathering. By mid-April, President Joko Widodo declared COVID-19 as a non-natural national disaster, which obliges the governors, regents, and mayors of the various regions in Indonesia to establish policies in line with this declaration. West Java and Tangerang soon followed Jakarta’s lead and declared a massive social restriction in their respective regions.

On the business side, the government has begun setting the stage to allow public institutions to introduce future measures to ensure that business can go on as usual.

Indonesia | Support Measures | 30 April 2020


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