News

To further implement carbon trading in Indonesia, the Financial Services Authority (“OJK”), as the authorized body to supervise the establishment and implementation of Indonesia’s Carbon Exchange (“Carbon Exchange”), recently issued Regulation No. 14 of 2023 on Carbon Trading through Carbon Exchange and OJK Circular Letter No. 12/SEOJK.04/2023 (“OJKR on Carbon Exchanges”). These new regulations are… Read More

On 8 August 2023, the Indonesian Government officially enacted the new omnibus Health Act No. 17 of 2023 (“New Health Act”), which is aimed to significantly transform, enhance, and accelerate the development of Indonesia’s health services industry to become more advanced, comprehensive, integrated, and accessible by all societies across Indonesia. The New Health Act serves… Read More

The Indonesian Business Competition Supervisory Commission – Komisi Pengawas Persaingan Usaha (“KPPU”) issued KPPU Regulation No. 3 of 2023 (“Reg 3/2023”) as a new merger filing regulation, replacing, and revoking the previous regulation on the same matter, namely KPPU Regulation No. 3 of 2019 (“Reg 3/2019”). Reg 3/2023, which came into effect on 31 March… Read More

This is the 2nd part of our newsletter highlighting major changes to the PPSK Law on (i) the capital markets sector, (ii) carbon trading, (iii) insurance companies, (iv) financing services business (usaha jasa pembiayaan), (v) bullion business, and (vi) technology innovation in the financial sector. To check out the 1st part of our newsletter on… Read More

On 15 December 2022, the Indonesian Government together with the Indonesian parliament passed the bill of Financial Sector Development and Strengthening Law (“PPSK Law”), which aims to reform various laws and regulations in the financial sector. The PPSK Law became effective as of 12 January 2023 (except for certain provisions that are explicitly intended to… Read More

In this newsletter edition, we discuss the main updates brought by Government Regulation in Lieu of Law No. 2 of 2022 (“Perppu 2/2022”) – replacing the so-called ‘Omnibus Law on Job Creation’ (Undang-Undang Cipta Kerja) (“Omnibus Law”) – that may be relevant to your existing operations in Indonesia. Our discussion will touch on updates of selected… Read More

The Minister of Environment and Forestry Affairs (“MOEFA”) has just issued Regulation No. 21 of 2022 on the Guidelines for the Implementation of Carbon Pricing (“MOEFA Regulation 21/2022”) to implement Presidential Regulation No. 98 of 2021 on Carbon Pricing (“PR 98/2021”) and set out the technical aspects of carbon pricing implementation in Indonesia. To see… Read More

The Government of Indonesia (“GoI”) has just issued the much-anticipated Presidential Regulation No. 112 of 2022 on the Acceleration of Renewable Energy Development for Electricity Supply (“PR 112/2022”). Although it has not completely met the expectations of businesses, certain provisions of PR 112/2022 clearly show the constant and serious efforts made by the GoI to… Read More

The enactment of Indonesia’s Personal Data Protection Law (PDP Law) marks the introduction of the country’s first comprehensive personal data protection law. As it uses EU GDPR as the basis, one may find similarities between the two. The PDP Law applies to legal acts performed both in and outside the Indonesian territory, but for the… Read More

The Indonesian Government and the Business Competition Supervisory Commission (“KPPU”) issued Government Regulation No. 44 of 2021 (“GR 44/2021”) and KPPU Regulation No. 2 of 2021 (“KPPUR 2/2021”), both setting out detailed implementing provisions of the Indonesian Antitrust Law (“IAL”). GR 44/2021 and KPPUR 2/2021 are effective as of 2 February 2021 and 31 May… Read More