23 November 2020
Law No. 11 of 2020 on Job Creation (the “Job Creation Law” or known as the Omnibus Law) was issued and came into effect on 2 November 2020. It is mainly based on the principles of the equalization of rights, legal certainty, greater ease of doing business, togetherness, and independence. The aim of greater ease of doing business is job creation supported by simple, easy and fast business procedures which will encourage increased investment, empower micro, small and medium-scale enterprises (“MSME”) to strengthen the economy and make job opportunities available to a broader spectrum of the Indonesian people. The changes made by this Job Creation Law affect 78 Laws and provides several strategic policies among others on (i) broadening of the investment ecosystem and business activities; (ii) the ease of doing business; and (iii) acceleration of national strategic projects oriented towards national interests.
Download the PDF(29 Pages) here.
For further information, please contact:
Vincent Ariesta Lie, Partner, Makarim & Taira S
vincent.lie@makarim.com
