Government Plans Omnibus Law for Investment

By Editorial Team 18/09/2019
Summary

The government is overhauling laws that have been hampering the investment in Indonesia by issuing a regulation containing a revision of several laws, known as the omnibus law. The government noted 72 laws in which some of the articles inhibited the investment process, for example, the Law on Regional Autonomy and the Law on Forestry.

Coordinating Economic Minister Darmin Nasution said the omnibus law would later contain articles that could accelerate the investment process, such as the regulation for simplifying building permits (IMB). Subsequently, all IMB arrangements will be made through an Online Single Submission (OSS), with a more specific and rigid standardization to speed up the completion. The government expects to issue the omnibus law later this year.

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