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Omnibus Law Creates a Quality Business and Investment Climate

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By: Zainudin Zidane)*

The Omnibus Law on Job Creation (UU Ciptaker) is a universal sweeping rule that can overcome the problem of overlapping regulations in Indonesia. With the existence of the Job Creation Law, it is hoped that it will be able to create a conducive business climate and quality investment.

Some time ago when the new Omnibus Law on Job Creation was enacted, the public was shocked. It’s only natural because maybe this is the first time they have seen a law that has various articles and clusters, ranging from economics to investment. These clusters were created to improve the welfare of the people because changing regulations meant making their lives easier.

The Omnibus Law also functions to create a quality business and investment climate. The reason is because this law serves as a legal umbrella for investors in Indonesia. They are increasingly convinced to enter this country and then pour capital with pleasure.

When there are investors who enter Indonesia, the business climate will automatically become more vibrant. The reason is because investors certainly bring in far more funds and they will start various projects or open factories in this country. That way, there will be production, distribution, which trigger consumption, thus turning the wheels of the economy in Indonesia.

When there are investors, they can start a collaborative project with Micro, Small and Medium Enterprises (MSMEs), so that their business can survive the abyss of collapse. That way many business people will be able to continue to trade again, because they are assisted by investors.

It is hoped that the business climate in Indonesia will become healthier because everything is growing, from MSME entrepreneurs to the big-name ones. Investors want to cooperate because they believe in the skills of the businessmen in this country.

In addition, foreign investors also do not hesitate to enter Indonesia because there is a guarantee for them. This guarantee was delivered directly by President Jokowi. He invited many investors not to hesitate to invest anymore, because the situation in Indonesia is already conducive. Moreover, there is the Omnibus Law on Job Creation which protects investors.

The investment climate in Indonesia has also become more dynamic thanks to many investors who are already preparing to enter. They believe in the Indonesian government, because it is always committed to protecting investors. The proof is the investment cluster in the Omnibus Law on Job Creation, which makes it easy for investment requirements and also fast licensing because they can be managed online.

If the investment climate is more lively, then the people who will benefit because the country’s economy will rise due to the pandemic. If the country’s financial condition becomes healthy, due to the entry of foreign exchange through investment, then we can improve and become one of the Asian tigers.

Investment makes us not dependent on debt, either to other countries or to the IMF. If there is a business cooperation with the investment system, then there are funds to be reprocessed, so that the state’s financial condition can be saved. We don’t end up falling into the abyss of a terrible recession.

Once there is a security guarantee that is proven by this law, investors will flock to Indonesia and they will invest their capital, because they believe in guarantees from the government.

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

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