"The enactment of this law is very timely since it will help to reduce the negative impacts of COVID-19 on those affected, especially in the employment sector," Minister Hartarto remarked while opening an online discussion titled "Reimagining The Future of Indonesia" in Jakarta on Monday.
The coordinating minister opined that the Job Creation Act had served a bridge between the short-term and long-term COVID-19 handling programs.
As a central player in the Indonesian economy, the minister affirmed that the government had offered protection facilities and empowerment through incentives and financing for MSME players.
"The benefits of the Job Creation Law for MSMEs include offering the ease of obtaining business license through registration, obtaining free halal certificates, and enabling an individual to establish a company or PT with self-determined capital," Hartarto remarked.
Furthermore, the Online Single Submission (OSS) system, targeted to be implemented in July 2021, will simplify the business licensing process.
The minister pointed out that the government had passed various derivative regulations on manpower and established the Indonesia Investment Authority (INA) to drive economic growth.
“The government has established the INA as a long-term financing alternative. To encourage infrastructure development, the government has consulted with 50 companies and potential strategic partners," Hartarto noted.
The coordinating minister stated that the government had readied an additional budget of Rp60 trillion as INA capital to realize its activities.
"In early 2020, an initial capital of Rp15 trillion was allocated, and in 2021, an additional Rp60 trillion was prepared. It is hoped that in the first quarter, the Indonesia Investment Authority would realize this activity," he affirmed.
Through multifarious endeavors, Hartarto is upbeat about 2021 being a turning point for the challenges posed by the pandemic and expects stakeholders to partake in ensuring that the various prepared policies are effectively operationalized.
Related news: Indonesia's job creation law viewed as important by Japanese investors
Related news: Job Creation Law accelerates investment licensing to boost economy
EDITED BY INE