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Indonesia Establishes New Investment Ministry


Indonesia Establishes New Investment Ministry
Indonesia Establishes New Investment Ministry
April 30, 2021 Posted by ASEAN Briefing
Written by
Ayman Falak Medina
Reading Time:
3 minutes
Indonesia’s government has established a new Investment Ministry, as the president initiates another cabinet reshuffle.
The new ministry is the result of upgrading the bureaucratic status of the Investment Coordinating Board (BKPM) a government agency mandated to boost domestic and foreign investments into a fully-fledged government ministry.
The government has targeted a total investment realization of 900 trillion rupiah (US$62.2 billion) for 2021.
On April 28, 2021, Indonesia’s government established a new Ministry of Investment to enhance the ease of doing business in the country. In addition, the Ministry of Education and Culture has now merged with the Ministry of Research and Technolog ....

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Singapore investors welcome Indonesia's new Omnibus Law


Indonesia came in 73rd position on an international ranking for ease of doing businesses by the World Bank in 2019. - Reuters
JAKARTA (The Straits Times/ANN): Singapore businesses hope Indonesia s new Omnibus Law will bring essential reforms in a wide range of areas from business permits to labour, enabling businesses to operate more efficiently in South-east Asia s largest economy.
The law aims to simplify processes to get business licences and also introduces flexibility in the country s labour market by easing recruitment and outsourcing.
The Positive Investment List, a regulation issued as part of the Omnibus Law, opens up sectors such as energy, telecommunication, transportation and construction services to 100 per cent FDI, a spokesman for Enterprise Singapore (ESG) told The Straits Times by email. ....

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