Major Liberalization of FDI Rules Heralds New Paradigm in Indonesia (24/02/2021)
  Acting on the mandate provided by Law No. 25 of 2007 on Investment (the “Investment Law”), as amended by Law No. 11 of 2020 on Job Creation (the “Job Creation Law”), the Government of Indonesia has issued a new implementing regulation for the Investment Law: Presidential Regulation No. ...


Indonesia’s New State Investment Fund Likely to Be Up and Running Soon (23/02/2021)
  The Indonesian Government is pushing ahead quickly with its plans to bridge the gaps in existing infrastructure financing sources through the setting up of a new state investment fund known as the Indonesia Investment Authority (abbreviated in Bahasa Indonesia as “INA”). The fund, whose ...


Indonesia’s FSA Tightens Up Its Supervision of Finance Companies (23/02/2021)
  1. Introduction   The Financial Services Authority (“OJK”) issued Regulation No. 47/POJK.05/2020 of 2020 on Business Licensing and Institutional Aspects of Finance Companies and Sharia Financing Companies (the “New Regulation”)[1] in November 2020. This seeks to increase industry ...


Indonesia’s Ratification of Apostille Convention Should Boost Ease of Doing Business (16/02/2021)
  After almost sixty years since its adoption, Indonesia finally ratified the Convention to Abolish the Requirement for Legalisation of Foreign Public Documents (the “Convention”) via Presidential Regulation No. 2 of 2021 (“PR 2/2021”), on 4 January 2021. The ratification sends a positive ...


Indonesian Competition Law: Draft Gov’t Regulation to Introduce Profit / Turnover-based Fines (15/02/2021)
  As reported in an earlier competition law update, the reformist Job Creation Law (“JCL”), which was enacted on 3 November 2020, gives the Commercial Courts jurisdiction in appeals against decisions of the Indonesian Competition Commission (“KPPU”) and overhauls sanctions that may be ...


After Period of Confusion, IDERA Protection in Indonesia Now Extends to Offshore Lenders (11/02/2021)
  With the aviation industry around the world continuing to reel from the impact of COVID-19, many airlines are struggling to meet their obligations under aircraft leasing and financing agreements. Given the current uncertainties, in this ABNR Legal Update we look at the position in Indonesia ...


Indonesian Central Bank Regulation Introduces New FDI Restrictions in Payments Sector (11/02/2021)
  Shortly before the New Year, Indonesia’s central bank, Bank Indonesia (“BI”), issued Regulation No. 22/23/PBI 2020 on payment systems (the “Regulation”), which stipulates a reduction in the level of foreign participation permitted in payment system operators. The new provision will ...


ABNR Ranked as Tier-1 Firm for 11 Practice Areas by Legal 500 Asia Pacific (04/02/2021)
  ABNR’s position as one of Indonesia’s top-3 law firms has been confirmed by the latest edition of Legal 500 Asia Pacific, which accords 11 Tier-1 rankings to ABNR this year, making us one of just three Indonesian law firms ranked as Tier-1 firms for so many practice areas. No ...