[co-authors: Lia Alizia, Maria Sagrado, Vincent Lie, Frederick Simanuntak]*
1. What is the current business climate in your jurisdiction including major political, economic and/or legal activities on the horizon in your country that could have a big impact on businesses?
Despite the current pandemic that has forced most sectors to work remotely, foreign investors are still investing in Indonesia, especially during this first quarter of 2021. In addition to acquisitions of e-commerce, fintech, mining, smelter, loans from foreign institutions have also kept us fairly busy this year.
The introduction of the Omnibus Law that has amended 76 laws and is implemented under 49 government regulations and presidential decrees has affected Indonesia’s legal environment as they have required existing clients to make certain changes to their corporate documents and business licensing. The opening up of ‘previously restricted foreign…