Indonesia enacted a new Condominium Law in 2011 to replace Law No. 16 of 1985 regarding Condominiums. The implementing regulations of the New Condominium Law were to be issued at the latest one year after the enactment of the law.
The mining industry in Indonesia remains in flux. On October 14, 2014, the Indonesian Government issued the third amendment to Government Regulation No. 23 of 2010 regarding the Implementation of Mineral and Coal Mining Business Activities.
SSEK Legal Consultants has acted as Indonesian counsel to Daewoo International Corporation in connection with a US$210 million funding for the expansion of Australia-listed Finders Resources' copper cathode plants (known as the Wetar Copper Project) in Indonesia's Maluku Province.
SSEK provides an overview of the rules and regulations affecting investment in Indonesia and look at the main legal developments in the country over the last year and how they impact companies operating or investing here.
With a population of more than 250 million, Indonesia is an attractive country for investors, particularly those interested in the distribution, retail and franchise sectors. But 2014 was a nervous time for new and existing investors in Indonesia, many of whom delayed any major actions to see how the country's legislative and presidential elections would play out.