Amendments on The Establishment, Management, Supervision and Dissolution of State-Owned Enterprises
President Joko Widodo has signed Government Regulation No. 23 of 2022 (“GR No. 23/2022”) on Amendments to Government Regulation No. 45 of 2005 on The Establishment, Management, Supervision and Dissolution of State-Owned Enterprises. GR No. 23/2022 focuses on amending several provisions of GR No. 45/ 2005, particularly regarding senior officers and employees of State-Owned Enterprises (“BUMN”).
GR No. 23/2022 has been issued with hopes of improving the operation and development of BUMNs, first and foremost through their leaders and employees. It introduces new and stricter rules for the Board of Directors, the Board of Commissioners and Supervisory Board of BUMNs. GR No. 23/2022 also updates the provisions on regular BUMN employees, including a new provision on professionals being hired by BUMNs.