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Job Creation Law Cuts Investment Barrier Regulations

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By : Safari Handayani

The job creation law is the government’s new breakthrough to cut regulations that hinder investment. With this legal umbrella, foreign investors will enter and our economic condition will recover.

The country’s economic condition, which had been a bit shaky due to the pandemic, made the government try hard to recover it. One of the strategies is to implement the Job Creation Law and its derivative regulations. Why the Job Creation Act? The reason is because in this Act there are investment clusters that will be profitable, both for investors and the community.

In the Act on Job Creation for investment clusters, the requirements will be simplified. Economic analyst Ibrahim Ascustombi stated that the Job Creation Act would cut down on complicated licensing and guarantee ease of investment. As a result, investor confidence will improve. So they will assume that Indonesia is a potential country to invest.

Why are investors interested in investing in Indonesia? The reason is because the inhibiting regulations will be trimmed. In the past, business licenses had to take care of HO permits, which paid quite a lot of money and waited a long time. However, currently, licensing is based on risk: low, medium, and high. So low-risk businesses only need a business license number.

Investors also want to enter Indonesia because the licensing process is relatively short, which is a maximum of 7 working days. In the past, waiting for permits to come down could take months, now it can be lightning fast. The speed of this licensing also has an effect, because no person will dare to ask for facilitation money from investors so that the legality of their business can be done quickly.

Regulations that are deliberately simplified will make investors compete to invest in Indonesia. There are already many companies waiting in line, from battery manufacturers to electric cars. This is very good because it will improve economic conditions in Indonesia.

Minister of Law and Human Rights Yasonna Laoly stated that the Job Creation Law was made to be a positive stimulus for improvement and national economic growth that would open up many job opportunities for the community. Like a vaccine for the sluggish Indonesian economy.

So what is the relationship between investors and the economy? We know that the government is dealing with the impact of the covid pandemic in various ways, and it requires a lot of money. To cope with the economic downturn it is not possible to add new debt to the IMF or other countries. So the only way is to use funds from investors.

Investors will disburse funds for various cooperation projects, and it is clearly mutually beneficial. So that the wheels of the economy in Indonesia will roll faster and we will survive the inflationary status or even the 2nd volume of the monetary crisis.

The public does not need to be afraid of investors, because there is an investment management institution that will manage it, which is headed by Mr. Luhut B Panjaitan. This institution will supervise investors and investment projects, so that they run smoothly and there are no mistakes that will harm the country.

In fact, the arrival of investors must be grateful because they want to disburse large funds in Indonesia. So that there will be many new projects and automatically open up many job opportunities, and people can apply for jobs there. We can breathe easy and raise the standard of living again.

The Job Creation Law will cut various regulations that hinder investment, so that foreign investors will be attracted and compete to enter Indonesia. Investors will create new projects thus opening job vacancies. Unemployment will decrease and the country’s economic condition will be saved.

(The author is a contributor to the Press Circle and Cikini Students)

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