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.
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.
Job Creation Law slashed regional government authority to collect tax and fees. The central government’s intervention on fee and regional tax is like a breath of fresh air for employers.
Job Creation Law is considered as not protecting the environment. Under the law, the public has no right to protest against the environmental impact analysis (Amdal) of a project.