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Jakarta Post

Indonesia to get new business license regime with omnibus bill

  • Adrian Wail Akhlas

    The Jakarta Post

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Jakarta   /   Tue, February 18, 2020   /  07:08 am
The Jakarta Post Image
Omnibus laws introduces the new “business licensing” mechanism issued by the central government, streamlined through the Investment Coordinating Board (BKPM).(JP/Ricky Yudhistira)

The government will introduce a new business licensing regime in the omnibus bill on job creation to boost competitiveness and bolster investment as Indonesia's ranking in the World Bank’s Ease of Doing Business (EODB) index stagnates at 73rd. The draft omnibus bill obtained by The Jakarta Post introduces the new “business licensing” mechanism issued by the central government, streamlined through the Investment Coordinating Board (BKPM), according to the bill’s draft and Presidential Instruction (Inpres) No. 7/2019 on the acceleration of ease of doing business. BKPM head Bahlil Lahadalia said on Monday that the board had started to handle all licensing issuance as per Jan. 31. The new system will cut licensing hurdles as issuance was previously spread across government institutions and regional administrations, causing uncertainty to both investors and b...