Four Investment Regulations Come Into Force, What Has Changed?

By Editorial Team 25/02/2021
Drafts of law
Summary

The Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, stated that the government completed four implementing regulations for Law No. 11/2020 on Job Creation related to business licensing. "This is the answer to entrepreneurs' complaints, who experienced difficult, expensive, and time-consuming licensing process," he said in an online press conference, Wednesday (24/2).

Three of the four derivative regulations of Job Creation Law are Government Regulations (PP), while the last one is Presidential Decree. The new regulations are:

  1. PP No. 5/2021 on the Implementation of Risk-Based Business Licenses.
  2. PP No. 6/2021 on the Implementation of Business Licensing in Regions.
  3. PP No. 7/2021 on the Ease, Protection, and Empowerment of Micro, Small, and Medium Enterprises (MSMEs).
  4. Presidential Decree No. 10/2020 on the Investment Business Sector.

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