The Arrival of the Long-Awaited KBLI Numbers in Fintech

On 24 September 2020, Statistics Indonesia (Badan Pusat Statistik ─ “BPS”) issued BPS Regulation No. 2 of 2020 on Indonesian Standard Business Classifications (Klasifikasi Baku Lapangan Usaha Indonesia ─ “KBLI”), which is known as the 2020 KBLI. The 2020 KBLI introduces more than 200 new 5-digit KBLI numbers to keep up with the rapid development of new types and divisions of businesses in Indonesia. Included among the new KBLI numbers, the 2020 KBLI introduces the long-awaited KBLI numbers specifically to accommodate fintech related business activities.

The Job Creation Law & Highlighted Changes to The Manpower Law

The highly anticipated Law No. 11 of 2020 on Job Creation (“Job Creation Law”) (or widely known as the Omnibus Law) was enacted on 2 November 2020 The Job Creation Law amends various regulations, including Law No. 13 of 2003 on Manpower (“Manpower Law”). The series of M&T Advisory will also provide insight of the highlighted changes to the Manpower Law due to the issuance of the Job Creation law.