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Jakarta Post

Making omnibus law in time of coronavirus

PREMIUM
Jakarta   /   Thu, March 5, 2020   /  12:38 pm
Making omnibus law in time of coronavirus World of work: Hundreds of applicants head for a walk-in interview for a bank at the Smesco Building in Jakarta in November 2019. Much of the controversy around the omnibus bill focuses on fears of existing workers, while others hope the new law will create new jobs. (JP/Wendra Ajistyatama)

Early this year Investment Coordinating Board (BKPM) head Bahlil Lahadalia struck an optimistic tone for 2020. The BKPM’s target for 2020 is to rake in Rp 886 trillion (US$64.96 billion) of investment, with around 55 percent from overseas. Then the novel coronavirus (COVID-19) outbreak hit. Nobody has an idea how long the global epidemic will last. If the recovery moves fast, everything should normalize quickly. However, there is little hope for the country to meet its economic growth target of 5.3 percent. From the investment side, hopes abound that the omnibus bill on job creation can boost foreign direct investment (FDI). President Joko “Jokowi” Widodo has tried to rush through the many steps of the lawmaking process because he believes that regulatory changes through the omnibus law will change the game in wooing investment. The job creation bill comes with...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.