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The Omnibus Law on Job Creation – An Overview of the Changes regarding the Ease, Protection and Empowerment of Cooperatives, Micro, Small and Medium-Scale Businesses

The Omnibus Law on Job Creation which was passed in October 2020 as Law No. 11 of 2020 on Job Creation (the “Job Creation Law”), is claimed to be one of the government’s efforts to accelerate economic growth through creating jobs, encouraging investment and increasing productivity.

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The Omnibus Law on Job Creation – An Overview of the Increase in Incentives provided by the Government of Indonesia to create a ‘comfortable business environment’ for Investors in Special Economic Zones

Following our firm’s previously published advisory series on the Omnibus Law on Job Creation (the “Job Creation Law”), including among others our overview of the changes to the regulations regarding investment, land, and manpower, this advisory specifically highlights the key provisions of the Job Creation Law on Special Economic Zones amending the following regulations: 1. Law No. 39 of 2009 on Special Economic Zones (“Law 39/2009”); 2. Law No. 36 of 2000 on The Issuance of a Government Regulation in Lieu of Law No. 1 of 2000 on Free Trade and Free Port Zones to be Law; and 3. Law No. 37 of 2000 on The Issuance of a Government Regulation in Lieu of Law No. 2 of 2000 on Free Trade and Free Port Zones to be Law.

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Electronic Certificates Regulation issued by the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency

On 12 January 2021, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MOA”) issued Regulation No.1 of 2021 on Electronic Certificates (“MOA Reg. 1/2021”). This new regulation is intended to optimize the use of information and communication technology by implementing electronic-based land services and thus improve public services and the ease of doing business.

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Indonesia’s Newly Established Sovereign Wealth Fund: A New Chapter in Indonesia’s Economy

To meet national development goals, Indonesia needs foreign investment and an institution that can be a strategic investment partner, with a strong legal and institutional basis, which applies international practices, professional standards and can act as the “middleman” for those interested to invest in Indonesia. To address this issue and as mandated by Law No. 11 of 2020 on Job Creation which came into effect on 2 November 2020 (known as the “Omnibus Law”), the Government of Indonesia (“GOI”) has officially established a sovereign wealth fund, known as the Indonesian Sovereign Wealth Fund or the Indonesia Investment Authority (Lembaga Pengelola Investasi – “LPI”).

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Indonesia’s Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents

On 4 January 2021, the President of Republic of Indonesia issued Regulation No. 2 of 2021 on the Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents (“PR 2/2021”) (the convention is hereinafter referred to as the “Apostille Convention”).

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