NEW REGULATION ON CAPITAL INVESTMENT LICENSING AND FACILITIES

While Law No. 11 of 2020 (the “Omnibus Law”) amends various laws in various sectors, this advisory specifically highlights the key changes to Law No. 5 of 1999 on the Prohibition against Monopolistic Practices and Unfair Business Competition (the “Competition Law”). These changes have also been supplemented by Government Regulation No. 44 of 2021 on the Implementation of the Prohibition against Monopolistic Practices and Unfair Business Competition (“GR 44/2021”).

The year 2022 marks a historic era for Indonesia’s Business Competition Authority (“KPPU”) as it is the year KPPU ruling on Partnerships involving Small Medium Enterprises (“SME”)’s passed.

On 5 March 2018, the Ministry of Energy and Mineral resources ("MEMR") issued Press Release No. 00022/04/SJI/2018 to continue arranging dozens of overlapping regulations and permits ("Simplification").

Indonesia’s Currency Law came into effect on 28 June 2011 as Law No. 7 of 2011 on Currency (“Currency Law”).