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The Job Creation Law Provides Legal Certainty for Investors

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By: Nur Ilham)*

The government continues to accelerate the revision of the Job Creation Law (UU Ciptaker) according to the decision of the Constitutional Court (MK) so that it can be completed on time. The public also supports the improvement of the regulation, because the law is considered capable of providing legal certainty to investors.

The government is trying its best to create a conducive investment climate, including making a job creation law. The law, which was promulgated at the end of 2020, is referred to as the universal sweeping law because almost all fields are included in it, from economics to investment. The existence of the Job Creation Law has received appreciation from many parties because it can prevent hyper-regulation which results in overlapping bureaucracies.

One of the parties who benefit from the existence of the Job Creation Law are investors because they get legal certainty. They can invest safely because they have a clear legal umbrella. Legal certainty is important because the investment value can reach billions of rupiah.

Another change due to the Cluster Job Creation Act is the ease of opening a business, because business licenses are risk-based, namely low, medium, and high. If the risk is medium, then you have to take care of the business registration number and also certification. However, if the risk is high, it will be added with a business license. In this way, investors can apply for business licenses and include medium or high ones, depending on the business.

Licensing is risk-based, the advantage is that investors can take care of permits clearly, because they have exposed the business (or potential business) to the site directly. No longer via the institution or its employees, which can take more time and are prone to corruption.

Permit management is directly via the site and can be accessed for 24 hours. The online single submission (OSS) site is a new model so it is 100% paperless and speeds up the procedure. This is also a bureaucratic reform that was promised by President Jokowi.

If you take care of a permit via OSS, the advantage besides being paperless is that it can be completed quickly. Investors will be happy because OSS is very practical and easy. Usually it only takes 5 working days and doesn’t have to wait as long as it used to.

The legal protection provided by the Job Creation Act greatly protects investors. They are no longer afraid of being threatened by unscrupulous persons because they want permits to be completed quickly or not to have to pay extortion fees. Investors are happy because they are no longer bothered by this.

In addition, legal protection is also provided because the OSS system is online and the data is connected throughout Indonesia. There will be no person who threatens investors because he can show that his business in Indonesia is legal and the evidence can be seen in OSS.

This legal protection is very important to show that Indonesia is a state of law. We enforce the law with discipline so that foreign investors need not be afraid of thuggery. There is no barbaric model because everything is in the Job Creation Act.

If there is legal protection, investors can feel comfortable and want to enter Indonesia. We also have a lot of natural resources and mining potential so that we can build an electric car battery factory and various other factories.

The job creation law was created by the government for legal protection for investors, especially foreign entrepreneurs. If there is protection like this, they will want to do business in Indonesia because they are sure of its security. That way, the business world in this country will be more advanced, even though the condition is still a Covid-19 pandemic.

)* The author is a contributor to Pertiwi Institute

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