Omnibus bill: Is there 'Plan B' for post-pandemic investment?

Bagus Aditya
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Jakarta / Mon, June 22, 2020 / 09:36 am

Omnibus bill: Is there 'Plan B' for post-pandemic investment?

Workers from the Federation of Independent Trade Unions (FSPM) participate in a rally held by the Mobile People's Alliance (ARB) at the junction of Jl. Gejayan in Yogyakarta on Monday, March 9. Workers oppose the omnibus bill on job creation as they argue the bill is detrimental to labor interests. (JP/Bambang Muryanto)

President Joko “Jokowi” Widodo said in May that the COVID-19 curve must be flattened “by any means necessary” so the economy could restart in June. Still, the economy is not likely to snap back the minute businesses start reopening. Many corporations will hold on to their capital and decline to invest in their business lines for fear of a second crisis. Meanwhile, the government is trying to offer reassurances that the omnibus bill on job creation, currently under deliberation at the House of Representatives, will help make things much easier for businesses and by default, will boost investment. But it is not clear how quickly the House can approve this bill, as the nation and the government are preoccupied with the war on COVID-19. The House is now in recess and its next session starts in mid-June. If the House does not approve the omnibus bill, any mass...