The McKinsey survey shows that the majority of business players believe that Indonesia's economy will recover in the first quarter of 2022. The government's efforts to maintain public consumption and sustainability of MSMEs are considered appropriate.
A number of investors have protested against the Omnibus Law on Job Creation. Worsening investment climate.
Indonesia is an important partner for Japan to fight against China's domination in Southeast Asia. Indonesia will also take advantage of Japan to get security and investment support.
Support from the World Bank and Fitch Ratings for the Job Creation Law will push for the completion of the Omnibus Law’s implementing regulations.
The Omnibus Law changes several criteria for the wage system previously regulated in Labor Law
The ratification of the Omnibus Law met resistance from a number of circles. Not only workers, but also academics and religious organizations.
IMF projects that Indonesia's economy will contract by 1.5 percent by the end of 2020. The good relationship between Indonesia and China in the COVID-19 vaccine procurement can become the catalyst for the 6.1 percent economic growth in 2021.
The government and the House of Representatives (DPR) keep adding and removing the chapter on national fiscal policy in the Job Creation Law, worrying regional administrations will reject it.
The governments of Indonesia and Singapore have agreed to implement a reciprocal green lane (RGL) starting on October 26, 2020, to smoothen official and business travels between the two countries.
A number of securities and financial institutions believe that the Job Creation Law can provide legal certainty and cut cumbersome investment bureaucracy.