An Introduction to the Proposed Omnibus Law
To boost investment and ease of doing business in Indonesia, President Joko Widodo introduced the idea of enacting an Omnibus Law. As the title implies, the Omnibus law, is a single law covering various distinct matters.
The President has asked for two major areas to be covered by the Omnibus Law: the creation of employment and the empowerment of Micro, Small and Medium-scale Enterprises (UMKM). It will also re-regulate the tax sector and licensing matters in Indonesia. The Ministry of Finance is working on the draft Omnibus Law on the tax sector and the Coordinating Ministry of Economic Affairs is working on the draft on licensing.