Registered Foreign Electronic System Organizers in Indonesia. What to do next?
As many existing foreign private Electronic System Organizers (foreign ESOs) have registered with the Minister of Communication and Informatics (MOCI) to comply with MOCI Regulation No. 5 of 2020 on ESOs in the Private Sector (as amended), this Advisory covers ‘what to do next?’ so that foreign ESOs that have been registered are aware of their key obligations once they are registered with the MOCI.
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At Last, the Long Awaited and Much Anticipated ‘Positive Investment List’ has been Issued
Following the issuance of Law No. 11 of 2020 on Job Creation (“Job Creation Law”), Presidential Regulation No. 10 of 2021 on Investment Business Fields (“PR 10/2021”) containing a ‘positive investment list’ was issued on 2 February 2021 and will come into effect 30 days after its issuance. PR 10/2021 serves as a hallmark of substantial changes to the government’s approach towards foreign investment; it revokes and replaces the 2016 Negative Investment List (Presidential Regulation No. 44 of 2016 on The List of Business Fields that are Closed or Conditionally Open to Investment) and Presidential Regulation No. 76 of 2007 on the Criteria and Requirements for the Categorization of Closed Business Fields and Business Fields Open with Requirements in the Field of Investment.
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Indonesia on the Coronavirus (COVID-19) Outbreak: New Regulations and Policies
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of novel coronavirus or COVID-19 constituted a Public Health Emergency of International Concern (PHEIC).
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The Energy and Mineral Resources Sector - the Implementing Regulation of the Job Creation Law under the Government Regulation No. 25 of 2021
On 2 February 2021, the Government of Indonesia has finally issued an implementing regulation of Law No. 11 of 2020 on Job Creation which covers the energy and mineral resources sector under Government Regulation No. 25 of 2021 on The Implementation of the Energy and Mineral Resources Sector (“GR 25/2021”). GR 25/2021 covers the following sectors: (i) mineral and coal; (ii) geothermal; and (iii) electric power.
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Indonesia’s Newly Established Sovereign Wealth Fund: A New Chapter in Indonesia’s Economy
To meet national development goals, Indonesia needs foreign investment and an institution that can be a strategic investment partner, with a strong legal and institutional basis, which applies international practices, professional standards and can act as the “middleman” for those interested to invest in Indonesia. To address this issue and as mandated by Law No. 11 of 2020 on Job Creation which came into effect on 2 November 2020 (known as the “Omnibus Law”), the Government of Indonesia (“GOI”) has officially established a sovereign wealth fund, known as the Indonesian Sovereign Wealth Fund or the Indonesia Investment Authority (Lembaga Pengelola Investasi – “LPI”).
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