Our Mr. Andhika Indrapraja and Ms. Kathleen Cateliya (from FDI/General Corporate Focus Group) had the privilege of being one of the invitees to attend a significant regulatory update meeting with the Ministry of Investment and Indonesia Investment Coordinating Board (“BKPM“). This meeting was held in conjunction with various Indonesian Ministries and Government Agencies to discuss the highly regarded B-Ready Guidelines, a guideline that serves as the World Bank’s new flagship report, benchmarking the business environment and investment climate on a global scale.
During the discussions, BKPM extended an invitation to share our thoughts and to exchange ideas and insights regarding potential regulatory changes in 2024. Few key highlights are as follows:
- The possibility of signing an Indonesian notarial deed electronically, allowing parties to be virtually present via video conference. Once implemented, this will significantly improve efficiency because parties would no longer physically be required to be present in front of a notary.
- Discussions on the possibility of a new law on the security interest of movable objects, to simplify the existing laws on fiducia and pledge.
- Introduction of a new law on national minimum wages in all sectors.
The firm’s participation in the event underscores our strong and collaborative relationships with the BKPM and enhances our firm’s capabilities to support you as our clients in conducting your businesses in Indonesia.
If you have any questions or require further information, please do not hesitate to contact us.