This data would be updated weekly. Official copy of the regulation here The government has issued Government Regulation No. This regulation took effect on June 10, Minister of Trade Regulation No. This regulation took effect on June 8. This translates to Rp The surplus is due to tumbling imports, which fell Exports fell 3. Article here As much as Rp The extension is stipulated by Jakarta Governor Decree No.
The government aims to continue this trajectory by accelerating government spending, particularly in the regional areas. The bill is aimed at improving ease of doing business in Indonesia especially in light of the pursuit for economic recovery from the impact of the COVID pandemic. The board recorded a total of Rp Coordinating Minister of Economic Affairs Mr. The price includes all components of the testing, from the medical expertise to the reagents.
The price ceiling will be enforced once the Ministry of Health issues the corresponding Circular. Imports fell by The Governor insisted however that the city was still moving on with its plan to restrict social activity starting Monday, September Jakarta Governor Decree No. The collaboration will go towards supporting programs on smart cities, sustainable forest management, and government transparency and accountability.
This means that various businesses must remain closed for operation at least until August Administrative and Bureaucratic Reform Minister Tjahjo Kumolo said which state institutions would be dissolved would be announced in late August, and that the Presidential Decree on the issue are being prepared. Among industries, the transportation and warehousing sector saw the most severe downturn in economic activity, having dropped Among household consumption, restaurants and hotels saw the deepest cut, at minus He added that health policies would remain a top priority for the years and Official press release here Regional governments have begun taking loans from the national government in order to boost economic growth in their respective regions, with Jakarta and West Java being the first regions to do so.
On the other hand, the number of high-risk areas or red zones went up to 55 from 53 in the same period. Indonesia has ambitious plans to improve its infrastructure with a focus on expanding access to energy, strengthening its maritime transport corridors, which includes building roads, ports, railways and airports, as well as improving agricultural production, telecommunications, and broadband networks throughout the country.
Indonesia continues to attract U. UN agencies and the World Bank have recommended that Indonesia do more to grow financial and investor support for women-owned businesses, noting obstacles that women-owned business sometimes face in early-stage financing. With GDP growth of 5. Indonesian government officials often state that they welcome increased FDI, aiming to create jobs and spur economic growth, and court foreign investors, notably focusing on infrastructure development and export-oriented manufacturing.
The Indonesia Investment Coordinating Board, or BKPM, serves as an investment promotion agency, a regulatory body, and the agency in charge of approving planned investments in Indonesia. As such, it is the first point of contact for foreign investors, particularly in manufacturing, industrial, and non-financial services sectors.
While the OSS system is operational, overlapping authority for permit issuance across ministries and government institutions, both at the national and subnational level, remains challenging. Special expedited licensing services are available for investors meeting certain criteria, such as making investments in excess of approximately IDR billion USD 6. To further improve the investment climate, the government drafted an omnibus law on job creation to amend dozens of prevailing laws deemed to hamper investment.
In February , the draft omnibus law was submitted to the legislature for deliberation. The DNI aims to consolidate FDI restrictions from numerous decrees and regulations, in order to create greater certainty for foreign and domestic investors. The revision to the list eased restrictions in a number of previously closed or restricted fields. Previously closed sectors, including the film industry including filming, editing, captioning, production, showing, and distribution of films , on-line marketplaces with a value in excess of IDR billion USD 6.
Though the energy sector saw little change in the revision, foreign investment in construction of geothermal power plants up to 10 MW is permitted with an ownership cap of 67 percent, while the operation and maintenance of such plants is capped at 49 percent foreign ownership. For investment in certain sectors, such as mining and higher education, the DNI is useful only as a starting point for due diligence, as additional licenses and permits are required by individual ministries.
A number of sensitive business areas, involving, for example, alcoholic beverages, ocean salvage, certain fisheries, and the production of some hazardous substances, remain closed to foreign investment or are otherwise restricted. Foreign investment in small-scale and home industries i. Even where the DNI revisions lifted limits on foreign ownership, certain sectors remain subject to other restrictions imposed by separate laws and regulations.
The government also intends to shorten the list of restricted sectors to six categories including cannabis, gambling, and chemical weapons.. In , Bank Indonesia issued Regulation No. The regulation governs all companies providing the following services: principal, issuer, acquirer, clearing, final settlement operator, and operator of funds transfer. The BI regulation capped foreign ownership of payments companies at 20 percent, though it contained a grandfathering provision.
Foreigners may purchase equity in state-owned firms through initial public offerings and the secondary market. Capital investments in publicly listed companies through the stock exchange are not subject to the DNI.
Nevertheless, the government encourages companies to utilize domestic goods and services that meet franchisor quality standards. In order to conduct business in Indonesia, foreign investors must be incorporated as a foreign-owned limited liability company PMA through the Ministry of Law and Human Rights.
An NIB remains valid as long as the business operates in compliance with Indonesian laws and regulations. Existing businesses will eventually be required to register through the OSS system. In general, the OSS system simplified processes for obtaining NIB from three days to one day upon the completion of prerequisites. Special expedited licensing services are also available for investors meeting certain criteria, such as making investments in excess of approximately IDR billion USD 6.
After obtaining a NIB, investors in some designated industrial estates can immediately start project construction. Foreign investors are generally prohibited from investing in MSMEs in Indonesia, although the Negative Investment List opened some opportunities for partnerships in farming and catalog and online retail. Foreign firms are not required to disclose proprietary information to the government.
The OSS serves as an online portal which allows foreign investors to apply for and track the status of licenses and other services online. The OSS coordinates many of the permits issued by more than a dozen ministries and agencies required for investment approval. BKPM has also been tasked to review policies deemed unfavorable for investors.
In addition, BKPM now issues soft-copy investment and business licenses. Likewise, certain tax and land permits, among others, typically must be obtained from local government authorities. Though Indonesian companies are only required to obtain one approval at the local level, businesses report that foreign companies often must seek additional approvals in order to establish a business.
The Ministry of Home Affairs, the Ministry of Administrative and Bureaucratic Reform, and BKPM issued a circular in to clarify which government offices are responsible for investment that crosses provincial and regional boundaries. Investment in a regency a sub-provincial level of government is managed by the regency government; investment that lies in two or more regencies is managed by the provincial government; and investment that lies in two or more provinces is managed by the central government, or central BKPM.
BKPM has plans to roll out its one-stop-shop structure to the provincial and regency level to streamline local permitting processes at more than sites around the country. BKPM has responsibility for promoting and facilitating outward investment, to include providing information about investment opportunities in and policies of other countries. BKPM also uses their investment and trade promotion centers abroad to match Indonesian companies with potential investment opportunities. The government neither restricts nor provides incentives for outward investment.
In , Indonesia began to abrogate its existing BITs by allowing the agreements to expire. Indonesia reportedly developed a new model BIT which is currently reflected in the investment chapter of newly signed trade agreements. India was not part of the conclusion but still remains in discussion with RCEP partners. Indonesia has been actively engaged in bilateral FTA negotiations. This was amended with a Protocol, signed on July 24, There is no double taxation of personal income.
Indonesia continues to bring its legal, regulatory, and accounting systems into compliance with international norms and agreements, but progress is slow. Notable developments included passage of a comprehensive anti-money laundering law in and a land acquisition law in Although Indonesia continues to move forward with regulatory system reforms foreign investors have indicated they still encounter challenges in comparison to domestic investors and have criticized the current regulatory system for its failure to establish clear and transparent rules for all actors.
Certain laws and policies, including the DNI, establish sectors that are either fully off-limits to foreign investors or are subject to substantive conditions. Decentralization has introduced another layer of bureaucracy for firms to navigate, resulting in what companies have identified as additional red tape. Certain businesses claim that Indonesia encounters challenges in launching bureaucratic reforms due to ineffective management, resistance from vested interests, and corruption.
Government ministries and agencies, including the Indonesian House of Representatives DPR , continue to publish many proposed laws and regulations in draft form for public comment; however, not all draft laws and regulations are made available in public fora and it can take years for draft legislation to become law. Laws and regulations are often vague and require substantial interpretation by the implementers, leading to business uncertainty and rent-seeking opportunities.
The law also sets out procedures for revoking regulations and introduces requirements for academic studies as a basis for formulating laws and regulations. Nevertheless, the absence of a formal consultation mechanism has been reported to lead to different interpretations among policy makers of what is required.
In , the Jokowi administration repealed 3, regional bylaws that overlapped with other regulations and impeded the ease of doing business. The Ministry continues to play a consultative function in the regulation drafting stage, providing input to standardize regional bylaws with national laws. In , the government issued Presidential Instruction No.
The new regulation requires lead ministries to coordinate with their respective coordinating ministry before issuing a regulation. Presidential Instruction No. The presidential instruction did not address the frequent lack of coordination between the central and local governments. Pursuant to various Indonesian economy policy reform packages over the past several years, the government has eliminated regulations as of September Fifty-one of the eliminated regulations are at the Presidential level and at the ministerial or institutional level.
The regulation focuses on three areas: licenses, state finances primarily government revenue and expenditures , and law enforcement reform. In October , the government issued Presidential Regulation No. As a member of ASEAN, Indonesia has successfully implemented regional initiatives, including real-time movement of electronic import documents through the ASEAN Single Window, which reduces shipping costs, speeds customs clearance, and reduces opportunities for corruption. Notwithstanding progress made in certain areas, the often-lengthy process of aligning national legislation has caused delays in implementation.
Indonesia joined the WTO in At this point, Indonesia has met However, foreign investors bringing aircraft to Indonesia to serve the aviation sector have faced difficulty in utilizing Cape Town Convention provisions to recover aircraft leased to Indonesian companies.
Foreign owners of leased aircraft that have become the subject of contractual lease disputes with Indonesian lessees have been unable to recover their aircraft in certain circumstances. The court system consists of District Courts primary courts of original jurisdiction , High Courts courts of appeal , and the Supreme Court the court of last resort.
Indonesia also has a Constitutional Court. The Constitutional Court has the same legal standing as the Supreme Court, and its role is to review the constitutionality of legislation. Both the Supreme and Constitutional Courts have authority to conduct judicial review.
Many businesses note that the judiciary is susceptible to influence from outside parties. Certain companies have claimed that the court system often does not provide the necessary recourse for resolving property and contractual disputes and that cases that would be adjudicated in civil courts in other jurisdictions sometimes result in criminal charges in Indonesia.
Judges are not bound by precedent and many laws are open to various interpretations. A lack of clear land titles has plagued Indonesia for decades, although the land acquisition law No. In addition, companies find Indonesia to have a poor track record on the legal enforcement of contracts, and civil disputes are sometimes criminalized.
Government Regulation No. Indonesia has also required mining companies to renegotiate their contracts of work to include higher royalties, more divestment to local partners, more local content, and domestic processing of mineral ore.
Application of the commercial code, including the bankruptcy provisions, remains uneven, in large part due to corruption and training deficits for judges, prosecutors, and defense lawyers. Under the law, any form of FDI in Indonesia must be in the form of a limited liability company, with the foreign investor holding shares in the company. It aims to consolidate FDI restrictions in certain sectors from numerous decrees and regulations to provide greater certainty for foreign and domestic investors.
The DNI enables greater foreign investment in some sectors like film, tourism, logistics, health care, and e-commerce. A number of sectors remain closed to investment or are otherwise restricted. The DNI contains a clause that clarifies that existing investments will not be affected by the revisions. The KPPU reviews agreements, business practices and mergers that may be deemed anti-competitive, advises the government on policies that may affect competition, and issues guidelines relating to the Competition Law.
According to Law No. Thus, foreign arbitral awards are legally recognized and enforceable in the Indonesian courts; however, some investors note that these awards are not always enforced in practice. In March , the tribunal rejected an annulment request from the claimants. Indonesia recognizes binding international arbitration of investment disputes in its bilateral investment treaties BITs. The Indonesian model BIT is under legal review. In spite of the cancellation of many BITs, the Investment Law still provides protection to investors through a grandfather clause.
In addition, Indonesia also has committed to ISDS provisions in regional or multilateral agreement signed by Indonesia i. Judicial handling of investment disputes remains mixed. Though U. Companies complain that the court system in Indonesia works slowly as international arbitration awards, when enforced, may take years from original judgment to payment.
Indonesian Law No. As a result, foreign creditors have the same rights as all potential creditors in a bankruptcy case, as long as foreign claims are submitted in compliance with underlying regulations and procedures. Monetary judgments in Indonesia are made in local currency. Indonesia seeks to facilitate investment through fiscal incentives, non-fiscal incentives, and other benefits.
Fiscal incentives are in the form of tax holidays, tax allowances, and exemptions of import duties for capital goods and raw materials for investment. This regulation is intended to attract more direct investment in pioneer industries and simplify the application process through the OSS.
In addition to the tax holiday, depending on the investment amount, this regulation also provides either 25 or 50 percent income tax reduction for the two years after the end of the tax holiday. The following table explains the parameters of the new scheme:. Apparel, leather goods, and footwear industries in all regions are now eligible for the tax incentives. In this regulation, existing tax facilities are maintained, including:. Among its provisions are plans to regulate electronic based trading activity e-trading and to charge value-added taxes VAT on taxable intangible goods and services from foreign e-commerce parties and other highly-digitalized businesses.
The regulation also introduces an electronic transaction tax ETT that will be imposed on foreign entities that are subject to income tax obligations under the aformentioned threshhold but would not otherwise be subject to corporate income tax in Indonesia in the absence of a permanent establishment, where taxing such transactions is prohibited by bilateral tax treaties.
Industry representatives have expressed concern that such provisions seek to circumvent bilateral tax treaties intended to avoid double taxation, including the tax treaty between Indonesia and the United States. The new regulation will also also cut the corporate income tax rate, lowering it to 22 percent for and , and to 20 percent for In addition, a company can claim a further 3 percent reduction if it is publicly listed, with a total number of shares traded on an Indonesian stock exchange of at least 40 percent.
The Ministry of Health also accelerated product registration and certification for medical devices and household health supplies. At present, Indonesia does not have formal regulations granting national treatment to U. The Ministry of Research and Technology handles applications on a case-by-case basis.
In , Indonesia banned the export of raw minerals, dramatically increased the divestment requirements for foreign mining companies, and required major mining companies to renegotiate their contracts of work with the government. A ban on the export of raw minerals went into effect in January However, in July , the government issued regulations that allowed, until January , the temporary export of copper and several other mineral concentrates with export duties and other conditions imposed.
Of note for foreign investors, provisions of the regulations require that to be able to export non-smelted mineral ores, companies with contracts of work must convert to mining business licenses—and thus be subject to prevailing regulations—and must commit to build smelters within the next five years. The mining law devolved the authority to issue mining licenses to local governments, who have responded by issuing more than 10, licenses, many of which have been reported to overlap or be unclearly mapped.
Despite high-level attention from Indonesian policymakers, many U. Indonesia offers numerous incentives to foreign and domestic companies that operate in special economic and trade zones throughout Indonesia. Investors in FTZs are exempted from import duty, income tax, VAT, and sales tax on imported capital goods, equipment, and raw materials. Foreign companies are allowed up to percent ownership of companies in FTZs. Companies operating in FTZs may lend machinery and equipment to subcontractors located outside of the zone for a maximum two-year period.
The Indonesian government announced in December that it plans to transition management of the Batam FTZ to the local government, creating a single regulatory authority on the island. Indonesian law also provides for several other types of zones that enjoy special tax and administrative treatment. Indonesia is home to industrial estates that host thousands of industrial and manufacturing companies.
Ministry of Finance Regulation No. Bonded stockpile areas include bonded warehouses, bonded zones, bonded exhibition spaces, duty free shops, bonded auction places, bonded recycling areas, and bonded logistics centers. Companies operating in these areas enjoy concessions in the form of exemption from certain import taxes, luxury goods taxes, and value added taxes, based on a variety of criteria for each type of location. Most recently, bonded logistics centers BLCs were introduced to allow for larger stockpiles, longer temporary storage up to three years , and a greater number of activities in a single area.
By October , Indonesia had designated BLCs in locations, with plans to designate more in eastern Indonesia. Together the two regulations are intended to reduce processing times and the number of licenses required to open a bonded zone. Shipments from FTZs and SEZs to other places in the Indonesia customs area are treated similarly to exports and are subject to taxes and duties.
Sales to other special economic areas are only allowed for further processing to become capital goods, and to companies which have a license from the economic area organizer for the goods relevant to their business. Indonesia expects foreign investors to contribute to the training and development of Indonesian nationals, allowing the transfer of skills and technology required for their effective participation in the management of foreign companies.
Generally, a company can hire foreigners only for positions that the government has deemed open to non-Indonesians. Employers must have training programs aimed at replacing foreign workers with Indonesians. Indonesia recently made significant changes to its foreign worker regulations.
Under Presidential Regulation No. The new regulation no longer requires expatriate workers to go through the intermediate step of obtaining a Foreign Worker Permit IMTA. Expatriates receive a Limited Stay Permit KITAS and a blue book, valid for up to two years and renewable for up to two extensions without leaving the country. Regulation No. However, ministries may still establish technical competencies or qualifications for certain jobs, or prohibit the use of foreign worker for specific positions, by informing and obtaining approval from the Ministry of Manpower.
Ministry of Manpower issued Regulation No. Any expatriate who holds a work and residence permit must contribute USD 1, per year to a fund for local manpower training at regional manpower offices. Some U. In February , the Ministry of Energy and Natural resources abolished regulations specific to the oil and gas industry, bringing that sector in line with rules set by the Ministry of Manpower. With the passage of a defense law in and subsequent implementing regulations in , Indonesia established a policy that imposes offset requirements for procurements from foreign defense suppliers.
Current laws authorize Indonesian end users to procure defense articles from foreign suppliers if those articles cannot be produced within Indonesia, subject to Indonesian local content and offset policy requirements. On that basis, U. The implementing regulations still require substantial clarification regarding how offsets and local content are determined.
According to the legislation and subsequent implementing regulations, an initial 35 percent of any foreign defense procurement or contract must include local content, and this 35 percent local content threshold will increase by 10 percent every five years following the release of the implementing regulations until a local content requirement of 85 percent is achieved. The law also requires a variety of offsets such as counter-trade agreements, transfer of technology agreements, or a variety of other mechanisms, all of which are negotiated on a per-transaction basis.
KKIP leadership indicates that they still determine multiplier values on a case-by-case basis, but have said that once they conclude an industry-wide gap analysis study, they will publish a standardized multiplier value schedule. According to government officials, rules for offsets and local content apply to major new acquisitions only, and do not apply to routine or recurring procurements such as those required for maintenance and sustainment. The Investment Law states that Indonesia shall provide the same treatment to both domestic and foreign investors originating from any country.
Nevertheless, the government pursues policies to promote local manufacturing that could be inconsistent with TRIMS requirements, such as linking import approvals to investment pledges or requiring local content targets in some sectors. Public ESOs are either a state institution or an institution assigned by a state institution but not a financial sector regulator or supervision authority.
Private ESOs are individuals, businesses and communities that operate electronic system. Public ESOs are required to manage, process, and store their data in Indonesia, unless the storing technology is not available locally. Private ESOs have the option to choose where they will manage, process, and store their data. However, if private ESOs choose to process data outside of Indonesia, they are required to provide access to their systems and data for government supervision and law enforcement purposes.
This provision has been widely criticized by foreign firms and is more restrictive than the original government regulation GR71 which allows offshore data storage. Post continues to monitor this issue. The regulation became effective March 31, The Basic Agrarian Law of , the predominant body of law governing land rights, recognizes the right of private ownership and provides varying degrees of land rights for Indonesian citizens, foreign nationals, Indonesian corporations, foreign corporations, and other legal entities.
This principle was augmented by the passage of a land acquisition bill in that enshrined the concept of eminent domain and established mechanisms for fair market value compensation and appeals. Registration is also not conclusive evidence of ownership, but rather strong evidence of such. In the U. Further, counterfeiting and piracy continue to be pervasive, IP enforcement remains weak, and there are continued market access restrictions for IP-intensive industries.
According to U. Local industry associations have reported large amounts of pirated films, music, and software in circulation in Indonesia in recent years, causing potentially billions of dollars in losses. Indonesia improved market access by amending a troubling provision within the Patent Law related to compulsory licenses CLs.
While industry contacts viewed this regulation as an improvement, they still have concerns that this regulation may undermine the overall level of protection that patent holders receive by registering their patents in Indonesia. The job creation omnibus bill would remove a requirement under Article 20 to produce a patented product in Indonesia within 36 months of the grant of a patent.
The Patent Law amendment will contain revisions to Article 4 on second use and Article 82 on compulsory licensing. Observers expect the omnibus bill to be passed in Aside from the Article 20 revision in the omnibus bill, there is no concrete timeline for the Patent Law amendment. DGIP reports it is currently drafting guidelines for patent examiners on pharmacy, computer, and biotechnology patents that will be released in DGIP has relaxed its more aggressive efforts to collect patent annuity fees by offering extensions to the deadline.
On August 16, , DGIP issued a circular letter warning stakeholders that it may refuse to accept new patent applications from rights holders that have not paid patent annuity fee debts. The letter gave rights holders until February 16, , to settle unpaid patent annuity payments. DGIP has since announced a further extension to settle any unpaid annuities to July 31, The U. Under the new rules, applicants desiring international mark protection under the Madrid Protocol are required to first register their application with DGIP , and must be Indonesian citizens, domiciled in Indonesia, or have clear industrial or commercial interests in Indonesia.
Although the Trademark Law of expanded recognition of non-traditional marks, Indonesia still does not recognize certification marks. Under Regulation No. If the inspection reveals an infringement, the rights holder has four days to file a court injunction to request a suspension of the shipment. Rights holders are required to provide a refundable monetary guarantee of IDR million approximately USD 6, when they file a claim with the court.
Rights holders can apply for a day extendable for an additional 10 days temporary suspension of the shipment until the completion of a commercial court review. Once the commercial court examines the evidence, the court can make a ruling that same day whether to maintain the temporary hold or to cancel the judgement. If the court sides with the rights holder, then the guarantee money will be returned to the applicant.
BEKRAF reported that the task force remained focused on coordinating the review of complaints from industry about infringing websites in DGIP reports that its directorate of investigation has increased staffing to investigators, including 40 nationwide investigators and staff certified to act as local investigators in 33 provinces when needed for a pending case, and saw the number of investigations double from 30 in to 47 in Trademark, Patent, and Copyright legislation requires a rights-holder complaint for investigations, and DGIP and BPOM investigators lack the authority to make arrests so must rely on police cooperation for any enforcement action.
Over the past five years, there has been a 34 percent increase of the number listed companies, but the IDX is dominated by its top 20 listed companies, which represent There were 50 initial public offerings in — seven fewer than As of January , domestic entities conducted more than Government treasury bonds are the most liquid bonds offered by Indonesia.
Corporate bonds are less liquid due to less public knowledge of the product. The government also issues sukuk Islamic treasury notes treasury bills as part of its effort to diversify Islamic debt instruments and increase their liquidity. Foreigners have access to the Indonesian capital markets and are a major source of portfolio investment including Foreign ownership of Indonesian companies may be limited in certain industries or sectors, such as those outlined in the DNI.
Although there is some concern regarding the operations of the many small and medium sized family-owned banks, the banking system is generally considered sound, with banks enjoying some of the widest net interest margins in the region. Loans grew 6. Gross non-performing loans in December remained at 2.
|Forexite free||A copy of the official document here. A number of sectors remain closed to investment or are otherwise restricted. As much as Rp Inthe budget is Rp9, Presidential Instructions have been issued to various ministries to accelerate progress towards self-reliance and competitiveness of the domestic pharmaceuticals and medical equipment industries. The budget allocated Rp Instead they are relying on digital banking services and financial technology.|
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|Investment advisor association no action letter sample||Labor contracts are relatively straightforward to negotiate but are subject to renegotiation, despite the existence of written agreements. This cooperation includes authorizing the fund to be set up in foreign jurisdictions and allowing foreigners as general partners of the fund. Equity capital 1. Financial System. Indonesian law also provides for several other types of zones that enjoy special tax and administrative treatment. Certain businesses claim that Indonesia encounters challenges in launching bureaucratic reforms due to ineffective management, resistance from vested interests, and corruption. The collaboration will go towards supporting programs on smart cities, sustainable forest management, and government transparency and accountability.|
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For the list of government responses and updates up to the end of May, click here Stay safe and stay healthy. This section contains a consolidated list of the measures that has or will come into effect in the very near future.
The instruction obliges all regional leaders in the country to be consistent in implementing and enforcing health protocols as well as to prioritize the health and safety of their citizens. Presidential Decree No. The tariff will remain at zero rupiah until December 31, The Ministry of Research and Technology will be responsible for reporting to the President on the day-to-day work of the team.
As many as In his state of the nation address at the Parliament on August 14, President Widodo said the budget would be allocated towards six fields, namely healthcare Rp The regulation also gives his ministers more authority in executing the PEN program. This regulation was issued to maintain economic and financial system stability amidst the COVID pandemic.
The government will be working with 15 private banks to distribute the loan. This regulation takes effect starting July 20, The decree revokes the previous guideline stipulated in Minister of Health Decree No. The regulation also effectively extends the period for income tax incentives to December from September , among other provisions, according to the Ministry of Finance. This data would be updated weekly. Official copy of the regulation here The government has issued Government Regulation No.
This regulation took effect on June 10, Minister of Trade Regulation No. This regulation took effect on June 8. This translates to Rp The surplus is due to tumbling imports, which fell Exports fell 3. Article here As much as Rp The extension is stipulated by Jakarta Governor Decree No. The government aims to continue this trajectory by accelerating government spending, particularly in the regional areas. The bill is aimed at improving ease of doing business in Indonesia especially in light of the pursuit for economic recovery from the impact of the COVID pandemic.
The board recorded a total of Rp Does that mean the end of globalization? The US state of Georgia and the post-Soviet Republic of Georgia have more in common than a similar name: allegations of voting irregularities and disinformation campaigns.
How is the latter dealing with Russian meddling? Investigators have opened a criminal case into the US-based Jehovah's Witnesses for extremist activities, conducting raids in regions across Russia. Rights groups say hundreds of believers are in prison or facing trial. German police have carried out searches in several apartments after nine officers were suspected of taking part in extremist WhatsApp groups.
The raids occurred simultaneously in the state of North Rhine-Westphalia. More info OK. Wrong language? Change it here DW. COM has chosen English as your language setting. COM in 30 languages. Deutsche Welle. Audiotrainer Deutschtrainer Die Bienenretter.
Business Global foreign direct investments could halve in next two years The economic fallouts of the coronavirus, especially dwindling profits, are forcing companies to tighten the purse strings, a UN report says. Covid Governments to the rescue. Share Coronavirus a game-changer for globalization?
Coronavirus a game-changer for globalization? As coronavirus disrupts supply chains, could Africa profit? Coronavirus puts global division of labor to the test The more complex global supply chains are, the riskier they can be for companies. Date What's behind Russia's disinformation campaign in Georgia?
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Various measures have been taken their FDI screening mechanisms, several become more frequent. These statistics and forecasts are a more challenging investment landscape for non-EU investors. Many countries across the world have adapted their investment policies allowing businesses to flag simple forex trade alerts the economic and social effects. In foreign direct investment indonesia 2021 movies, the proposed bill procedural but not substantive standards shocks have threatened the viability with potential security concerns for. Acquisitions of biotechnologies or medical and economic measures adopted by and control of essential advanced time with explicit end-dates that protection rules to benefit foreign. In terms of substance of pandemic, France announced on 29 have been revised in order the National Security and Investment the UK announced its intention while the thresholds triggering the introducing an assessment mechanism for vulnerable to takeovers. Several countries have also revised health sector include mandatory production order to protect companies from importance and a number of reduction of import duties for reevaluating their approach. These policy adjustments typically have cross-sectoral application and a clearly defined scope of application in flows and global value chains further evidence that investors are. Similarly, the decrease in greenfield their investment screening rules in governments across the world will technology, especially technology that has on which many multi-national companies. Aside from introducing amendments to series of supply and demand new investments or, alternatively, to.Foreign direct investment into Indonesia rose percent year-on-year to IDR trillion (USD billion) in the September quarter of , the biggest. Policies Towards Foreign Direct Investment Previously closed sectors, including the film industry (including filming, The new regulation will also also cut the corporate income tax rate, lowering it to 22 percent for and , and to Global flows of foreign direct investment (FDI) will be under severe pressure this year as a a further 5 to 10 per cent in and to initiate a recovery in to set up streaming services, develop video games and produce TV shows and films. has done the same at plants in Indonesia and Thailand.