The Omnibus Law on Job Creation – An Overview of the Changes regarding the Ease, Protection and Empowerment of Cooperatives, Micro, Small and Medium-Scale Businesses
The Omnibus Law on Job Creation which was passed in October 2020 as Law No. 11 of 2020 on Job Creation (the “Job Creation Law”), is claimed to be one of the government’s efforts to accelerate economic growth through creating jobs, encouraging investment and increasing productivity.
Following our firm’s previously published advisory series on the Omnibus Law, including among others our overview of the changes to the regulations regarding investment, land, and manpower, this advisory specifically highlights the key changes to the following laws related to Cooperatives, Micro, Small and Medium-Scale Businesses:
1. Law No. 25 of 1992 on Cooperatives (“Cooperatives Law”);
2. Law No. 20 of 2008 on Micro, Small, and Medium-Scale Businesses (“UMKM Law”);
3. Law No. 38 of 2004 on Roads (“Roads Law”);