The verdict is surely affecting investor trust, but prompt and proper communication allows us to mitigate the effectsJakarta (ANTARA) - Investment Minister concurrently Investment Coordination Board (BKPM) Chairperson Bahlil Lahadalia confirmed the authority had communicated with investors to ensure the recent Constitutional Court verdict on Job Creation Law would not affect investment realisation in Indonesia.
"The verdict is surely affecting investor trust, but prompt and proper communication allows us to mitigate the effects," Lahadalia said at a press conference here on Wednesday.
The ministry confirmed that over a thousand enterprises that are investing in Indonesia sought clarification regarding the Constitutional Court verdict through overseas ministry offices and direct calls and emails, according to Lahadalia.
"We told them that the verdict does not annul any articles of the Job Creation Law and neither the derivative regulations enacted by 47 government regulations, four presidential regulations, and other ministerial regulations," he said.
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Despite existing regulations not being affected, he also highlighted that no new derivative regulation would be issued as per the court ruling.
"It is our duty to lend assurance to our colleagues in the business sector," the minister added.
He noted that most investors had responded to the information in a positive tone while expressing their trust in the Indonesian government that would handle the issue properly.
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"Foreign investors have understood the situation in Indonesia, and they trusted President Joko Widodo to handle this issue properly. Our colleagues in the UAE, China, and South Korea have understood our situation after contacting the ministry's office," Lahadalia remarked.
The minister also affirmed his commitment to abiding by the Constitutional Court ruling on the Job Creation Law while appealing to the public to stay calm, as the ruling mostly highlighted issues on formalities of the law that the government could address.
"We should remain calm to respond to the ruling that points out issues on the legal formalities, and we also strive to resolve issues on the Job Creation Law within a period of two years," he said.
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Translator: Ade Irma Junida, Nabil Ihsan
Editor: Fardah Assegaf
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