Indonesia’s ranking on the ease of doing business index in the World Bank’s “Doing Business 2020” report remained at 73rd of 190 countries, the same position as one year prior. The introduction of various regulations and policies that were designed to be friendly to investors apparently have not succeeded in boosting Indonesia’s ranking to 40th, which has been targeted by President…
Teguh Maramis: Viewpoint The current government’s vision is clear: to develop our human resources skills to meet demand from various business sectors, and continue the development of infrastructure that has won praise both locally and internationally. The government insists that the only way to bring Indonesia into the top-five global economies by 2045 is by improving its investment climate. Indonesia…
Although the first quarter of 2020 was dominated by disruptions stemming from the global Covid-19 pandemic, 2019 proved a strong year for Indonesia’s economy, which maintained a steady growth rate on the back of robust domestic consumption and continuing efforts to reform policy and simplify investment procedures. This was despite the general election and uncertainty surrounding trade relations
In 2018 the Indonesian economy recorded a growth rate of 5.2%, the highest in five years. This was in spite of a slump in the rupiah and a trade imbalance, and took place against a backdrop of rising US interest rates and deteriorating trade relations between the world’s two biggest economies. The country’s emphasis on industrialisation and infrastructure development is laying the foundations
Viewpoint:Teguh Maramis Indonesia has been identified as one of Asia’s upcoming economies for quite some time. The political reforms of 1998 and the legislation of economic policies and business incentives that followed have brought us closer to that expectation, and the current administration has aimed to go further by bolstering foreign direct investment (FDI). In order to streamline the…
This chapter examines the legal system of Indonesia, focusing on the issuance of Regulation No. 24 on Electronic Integrated Business Licensing Services. Under this regulation, a single online submission system was created to streamline the licensing process, combining licences for various regional and national institutions across a range of business sectors under one electronic system, and merging…
Fulfilling its commitment to simplify business licences in order to foster investment, in June 2018 the government issued Regulation No. 24 on Electronic Integrated Business Licensing Services (GR 24). GR 24 follows the 2017 Regulation No. 91 on Acceleration of Doing Business. Referred to as the online single submission (OSS) system, it introduces an ICT-based business-licensing system that…
Viewpoint: Todung Mulya Lubis A while back, I arbitrated a dispute over mining concessions between an Indonesian company and their foreign counterpart. The foreign firm made major investments to get the concessions, and then after a few years decided to cancel the transaction and pull out of Indonesia. They filed an arbitration case to reclaim their investment. The Indonesian company, however, blamed…
Amid increasing awareness of the significance of intellectual property (IP) in today’s digital economy, we have witnessed some promising developments in Indonesia’s IP regulatory framework in recent years. Since 2014 the government has passed new laws on copyright, patents and trademarks. Although the mechanisms of IP enforcement and legal enforcement remain problematic, the Trademark…