Blog Category: Legal Updates

COVID-19: Indonesia Issues Regulations for Faster and Easier Import Licensing

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Many businesses in Indonesia have been forced to temporarily cease their activities because of COVID-19. Some factories are still operating to ensure the continuation of production, while implementing certain restrictions to try and prevent the spread of COVID-19, but production volume is down and price inflation is a possibility. In response, Indonesia has taken measures … COVID-19: Indonesia Issues Regulations for Faster and Easier Import Licensing

Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19

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The COVID-19 global pandemic has taken a toll on the Indonesian economy, underlining the need for financial institutions to have adequate liquidity in the face of uncertain times. In response, the Indonesian government issued Government Regulation in Lieu of Law No. 1 of 2020 on State Financial Policy for the Handling of COVID-19 and/or Other … Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19

Indonesia Introduces Criminal Court Trials by Teleconference in Response to COVID-19

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The Indonesian Supreme Court has issued Circular Letter Number 1 of 2020, dated March 23, 2020, regarding Adjustment of the Working System for Judges and Court Apparatus in an Effort to Prevent the Spread of COVID-19 at the Supreme Court and Subordinate Courts (the “Circular Letter“). The Circular Letter gives courts the discretion to postpone … Indonesia Introduces Criminal Court Trials by Teleconference in Response to COVID-19

Indonesian Government Relaxes Licensing Requirements for Medical Devices to Combat COVID-19

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Since the first COVID-19 case was reported in Indonesia on March 2, 2020, the number of cases has expanded to around 4,839 as of April 14, 2020, with 459 deaths. A number of medical professionals in the country have contracted COVID-19, in part due to a lack of medical devices to diagnose, treat or prevent … Indonesian Government Relaxes Licensing Requirements for Medical Devices to Combat COVID-19

COVID-19 and Indonesia: Force Majeure and Other Considerations

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The COVID-19 global pandemic has caused significant disruptions to businesses globally. The rapid rate of transmission, the unchecked growth in the number of cases and the lack of a vaccine has forced governments around the world to implement policies that have disrupted business operations globally. In Jakarta, Governor Anies Baswedan declared a two-week state of … COVID-19 and Indonesia: Force Majeure and Other Considerations

Indonesia Relaxes Foreign Ownership Rules for Insurance Companies

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The Government of Indonesia (GOI) has issued Government Regulation No. 3 of 2020 (GR 3), which amends Government Regulation No. 14 of 2018 regarding Foreign Ownership in Insurance-Related Companies (GR 14). GR 3 relaxes foreign ownership rules for insurance-related companies in Indonesia. Foreign Ownership for Insurance Companies Under GR 14 GR 14 limits foreign ownership … Indonesia Relaxes Foreign Ownership Rules for Insurance Companies

Indonesia to Issue Local Content Regulation for Pharmaceutical Sector

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The Indonesian Ministry of Industry plans to issue a new regulation on the calculation of local content for pharmaceutical products. This planned regulation is in response to Presidential Directive No. 6 of 2016 on the Acceleration of the Development of the Pharmaceutical and Medical Equipment Industry. That directive mandated the Ministry of Industry to implement … Indonesia to Issue Local Content Regulation for Pharmaceutical Sector

OJK Suspends New P2P Registrations

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The Indonesian Financial Services Authority (OJK) announced in a press release on February 24, 2020, that it was temporarily halting any new registrations for financial technology (fintech) lending. This moratorium is to allow the OJK to improve its supervision system and to better anticipate potential issues, with the goal of improving the overall quality of … OJK Suspends New P2P Registrations