Jokowi: Job creation law is for UMKM
The President of Indonesia, Joko Widodo (Jokowi), stated that the omnibus law (UU no. 11 of 2020) on Job Creation also benefits the Micro, Small, and Medium Enterprises (UMKM). Speaking on Friday through his official Facebook account, Jokowi clarified that the law creates a conducive investment climate through simplification of 79 laws into just 1 law.
Previously, the People's Representative Council (DPR) has passed the omnibus law bill on 5 October 2020. The President then signed the omnibus law on 3 November 2020.
Currently, Jokowi added that the Indonesian government is preparing implementation regulations for the omnibus law. He vowed to finish the derivative regulations as soon as possible. By finishing the derivative regulations, the Indonesian government wants all business people and workers to implement the job creation law immediately. Jokowi stated that the law might revamp and improve Indonesia's economy in the future.
Furthermore, Jokowi stated that the process goes on despite the rejection faced by the Job Creation law. Quoting the official website of the Job Creation law, https://uu-ciptakerja.go.id/, the Indonesian government had just uploaded 30 derivatives, consisting of Presidential Regulation's drafts. Meanwhile, the other 14 derivatives for the Job Creation law has not been uploaded yet, despite the fact that the Coordinating Minister for Economic Affairs had stated before that the process would finish by Friday today.
During the online meeting on Thursday, APEC (Asia-Pacific Economic Cooperation) CEO Dialogues 2020, Jokowi also invited the businesses from the Asia-Pacific region to invest in Indonesia. The President of China, Xi Jinping, and the Prime Minister of Japan, Yoshihide Suga, also attended the online meeting.