North Sumatra Investment Book

The Job Creation Law Encourages Employment and Facilitates New Business Opening While Recovering the Post-Pandemic Economy BB BANK INDONESIA BANK SENTRAL REPUBLIK INDONESIA The Omnibus Law has been in effect since its promulgation on November 2, 2020. The Constitutional Court Decision No. 91/PUU XVIII/2020 dated November 25, 2021 which states that the Law of Job Creation is unconstitutional with the condition: remains in effect operational but must be formally revised within 2 years. The issuance of Ministerial Regulations/Regional Regulations/Regional Head Regulations which are technical in nature, operational can still be carried out, and the OSS System will continue to run as should be. Under the Omnibus Law, 77 Indonesian Laws have been revised through a single law which regulates various sectors. Has simplified into Complicated licensing issues with abundant central & local regulations (hyper-regulations) that regulate the sector, causing disharmony, overlapping, non- operational and sectoral. 186 Article and 15 chapter Investment Ecosystem and Research and Innovation Business Activities Business Licensing Employment الاس Land Acquisition Callala Economic Zones SME and Cooperatives Ease of Doing Business 12 North Sumatra Investment Book Government Investment & National Strategic Project (PSN) Public Administration Imposition of Sanctions Source: Coordinating Ministry for Economic Affairs

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