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Business Media Selected for You: July 2018

Business Media Selected for You: July 2018

03 August 2018

Natural resources

New geothermal regulations

The Ministry of Energy and Mineral Resources has issued Regulation 37/2018 and Regulation 33/2018 governing geothermal tenders, permit issuances, allocation of working areas, and data management. These regulations are expected to boost the geothermal sector.

 

Business

Online Single Submission (OSS) system updates

The OSS system is now live around the clock and currently managed by the Coordinating Ministry for Economic Affairs. The Investment Coordinating Board (BKPM) is set to take over the management of the OSS system in November. To support the OSS system, the BKPM has issued Regulation 6/2018 and Regulation 7/2018, both effective 20 July 2018, which govern investment licensing, incentives, and investments generally.

Food and Drug Monitoring Agency (BPOM) issues circular on sweetened-condensed milk

The BPOM issued a warning against misleading advertisements for sweetened-condensed milk. It prohibits advertisers from comparing it to other, nutrient-rich, forms of milk. The prohibition shall take effect from 22 December 2018.

Ministry of Transport to crack down on freight trucks

The Ministry of Transport has announced that it will sanction drivers of overloaded and oversized freight trucks, which are believed to be a cause of premature road damage and has (most likely) cost the government IDR 43 trillion each year in repairs. Pursuant to Law 22/2009, offences are punishable by an IDR 500,000 fine and/or maximum 2 months' imprisonment.

Revised Non-Tax Revenue (PNBP) Law to improve services

The revised PNBP Law, which was recently approved by the House of Representatives (DPR), is expected to improve accountability and transparency with regards to fees charged by the government for public services. Additionally, fees are also to be harmonized across Indonesia. The revision to the PNBP Law will provide a legal basis to abolish certain fees, but will also increase the overall number of categories of permissible fees.

 

Technology

Ride-hailing rule revision on track amid uncertainty

The government is to prepare a regulation that will change the direction of the ride-hailing industry. The regulation shall serve as a detailed follow-up to Ministry of Transport Regulation 108/2017. Pursuant to the draft, ride-hailing firms are to change their status to transportation companies. The draft does not contain any sanctions applicable to existing non-compliant ride-hailing firms.

Consumer protection and peer-to-peer (P2P) lending providers

In wake of reports that P2P lending providers have been contacting individuals in a debtor's contact list without their express consent, the Financial Services Authority (OJK) has increased its consumer protection efforts. The OJK discovered 227 unlicensed P2P lenders and has summoned the providers in an attempt to force them to register, however many do not have a listed mailing address and/or valid contact details. The OJK has coordinated with several institutions (such as the Ministry of Communications and Informatics, the National Police Criminal Investigation Department, and Google Indonesia) to impose legal measures on such firms.

The Indonesian Financial Technology Association (Aftech) drafts ethics code for lending

Aftech has developed its business code of ethics to be implemented by P2P lending providers. The document has been finalized and distributed among Aftech members, and has been approved by the OJK. Aftech will set up an ethics committee to oversee implementation.  

 

International Trade

Indonesia and Spain seek to boost investment

The Indonesian Chamber of Industry and Commerce (Kadin) and the Spanish Confederation of Employers and Industries (CEOE) signed a memorandum of undertaking to foster a stronger Spanish presence in Indonesia.

Indonesia and the US agree on more trade

Indonesia and the US have agreed to boost trade and will work to produce a roadmap that will guide efforts to increase the volume of trade from approx. USD 28 billion to approx. USD 50 billion in the near future.

 

 

Compiled from the Jakarta Post.

Anthony Woolley - Foreign Legal Consultant, Indonesia : anthony.woolley@dnfp.com

Dewi Sawitri - Senior Associate, Indonesia : dewi.sawitri@dnfp.com

 

 

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