Green Lights from World Bank and Fitch for the Job Creation Law
Summary
Several world institutions have expressed official support for the Job Creation Law (UU) passage or the Omnibus Law on Job Creation. Most recently, the World Bank views the Omnibus Law on Job Creation as a positive sentiment for Indonesia's long-term economic growth prospects. The Omnibus Law is considered a major reform effort to make Indonesia more competitive.
“By removing heavy restrictions on investment and signaling that Indonesia is open for business, it can help attract investors, create jobs, and help Indonesia fight poverty,” the World Bank says in its press statement.