The fact that the Bill (RUU Ciptaker), approved by the House of Representatives (DPR) on October 5, 2020, has been rejected by workers, students, and other elements of the society, and has received a negative response from global investors should be a consideration for the government to postpone and re-evaluate it, Syarief stated here on Wednesday.
“Do not only consider large corporations, but also protect the people and the environment for our future children and grandchildren,” he said in a statement.
He questioned the rational behind the government and several factions in the Indonesian Parliament approving the passage of the omnibus bill into law since not only the people and workers have opposed it, but even several global investors have expressed concern over it.
He then cited a Reuters news report released on Tuesday (October 6, 2020), which said that 35 global investors have expressed their concerns over the bill in an open letter addressed to the Indonesian government.
The investors are managing up to US$4.1 trillion in assets and include Aviva Investors, Robeco, Legal & General Investment Management, Church of England Pensions Board, and Sumitomo Mitsui Trust Asset Management.
The concerns expressed by the global investors about the potential negative impact of the job creation bill show that the government has failed to understand the investment climate in Indonesia, Syarief observed.
“So far, the government has always acted on behalf of investment to pass the Job Creation Bill, even though global investors have also refused it. So, who is the Job Creation Law for,” he asked.
The Bill may trigger a new polemic that could prove counterproductive to the government’s efforts to overcome the health and economic impacts of the COVID-19 pandemic, according to the senior politician of the Democratic Party. (INE)
Related news: Workers' nationwide strike against Job Creation Law to continue: KSPI
Related news: Govt involved public in job creation bill deliberations: minister
EDITED BY INE
Translator: Imam B, Fardah
Editor: Suharto
Copyright © ANTARA 2020
