Podcast series: Regulatory Developments in Indonesia – a Multi-Sectoral Highlight
Tune into our newly launched Indonesia podcast series now - our specialists will talk about the most recent development in four important and developing sectors in Indonesia, being healthcare, insurance, data protection and energy sectors.
This interactive podcast will help you capture and anticipate some of the most important regulatory and practical issues on each sector following the introduction by the Indonesian government of some reforming regulations and policies.
During the first quarter of 2023, Indonesia economic growth reaches 5.03%, one of the highest in the world amidst the decreasing global economic growth. The Indonesia government also aims to transform this developing country into a developed country by 2045. These mark significant development in some major business sectors urging the government to have more innovative and further economic growth accommodating policies.
Episode 1: Electronic signature – enforceability under Indonesian law
Electronic signature has now been widely used in Indonesia owing to, among other things, the adaptation of remote working following the pandemic. Wet signature was never a requirement to create a binding contract but would certainly be helpful to establish its existence in a contentious situation. In this episode, our Litigation, Arbitration and Investigations partner, Narendra Adiyasa and managing associate, Tengku Almira Adlinisa will discuss the risk for challenges associated with agreements bearing electronic signature, the additional evidentiary burden it may create and the potential defence.
Listen to this episode on Spotify and Apple Podcasts
Episode 2: Golden Visa – a longer stay for qualified foreigners
In an effort to attract inflows of foreign talents to Indonesia, the Indonesian government has issued Government Regulation No.40 of 2023 (“GR 40”) which further amended the implementing regulation of the Immigration Law and Minister of Law and Human Rights Regulation No.22 of 2023 on Visa and Stay Permit (“Golden Visa Regulation”). Among the numerous amendments made, it includes provisions that allow the issuance of temporary stay permits up to 10 years, dubbed the “Golden Visa” for individual investors and the foreign directors and commissioners of companies investing in Indonesia. In this episode, our employment and incentives partner, Narendra Adiyasa and managing associate, David Siagian will discuss key regulatory amendments under the Golden Visa Regulation, and how these changes can potentially change the landscape for expatriates’ mobility within Indonesia.
Listen to this episode on Spotify and Apple Podcasts
Episode 3: The healthcare law reform through the Healthcare Sector Omnibus Law
Indonesia’s House of Representatives passes Omnibus Health bill into law in July 2023. This law replaces 11 existing laws in public health sector and is aimed by the government to transform the healthcare services in Indonesia. In this episode, our corporate M&A partner, Teguh Arwiko and associate Tatiana Diamira discuss the key concepts that are introduced by the Omnibus Health bill and what does it mean to the development of the business and the regulatory regime in healthcare sectors.
Listen to this episode on Spotify and Apple Podcasts
Episode 4: The spin-off of insurance company’s sharia units
The Financial Services Authority (“OJK”) finally issued the long awaited OJK Regulation No. 11 of 2023 on Spin-off of Sharia Units of Insurance Companies and Reinsurance Companies (“OJK Reg 11”). The obligation to spin-off sharia unit was mandated by the Insurance Law. However, due to lack of guidelines to implement this spin-off requirement, only few insurers have completed their sharia unit spin-off. OJK Reg 11 is issued to accommodate feedback from the industry to give clearer guidance on the spin-off requirements. This OJK Reg 11 is expected to boost the insurers’ compliance to spin-off its sharia unit, the topic will be discussed by our corporate M&A partner, Teguh Arwiko and managing associate, Tengku Almira Adlinisa in this episode.
Listen to this episode on Spotify and Apple Podcasts
Episode 5: New data privacy regime in Indonesia
In October 2022, the Indonesian government finally issued the long-awaited Personal Data Protection Law, which marks a new regime in Indonesian data privacy regulations. This has now been almost one year since the issuance of the Personal Data Protection Law, and there is still one year until the end of the transitional period. In this episode, our corporate M&A partner Yolanda Hutapea and managing associate, Kevin Eduard Matindas will discuss on what has been changed by the Personal Data Protection Law in the past year, how market players have adapted to these new changes, and what to expect until the end of the transitional period.
Listen to this episode on Spotify and Apple Podcasts
Episode 6: CCS/CCUS in Indonesia – The next big thing
CCS / CCUS is part of upstream oil and gas producers’ involvement in decarbonization. Indonesia has one of the world’s largest CO2 storage potentials making regional CCS/CCUS hub one of the most appealing future business opportunities in Indonesia. Listen to our Partner, David Holme and managing associate, Arie Priadhi who will share about the current policy and regulatory directions on CCS/CCUS and things to take into account prior to engaging in this “soon to be major” business in Indonesian energy sector.
Listen to this episode on Spotify and Apple Podcasts