Under Law No. 13 of 2003 regarding Labor (the “Labor Law”) and other prevailing labor laws and regulations, employment-at-will and termination upon simple notice are not recognized in Indonesia. Employment terminations must follow the procedures under the Labor Law and Law No. 2 of 2004 regarding Industrial Relations Dispute Settlement (“Law No. 2″).
While there is no specific definition of shareholder activism in Indonesia, and Indonesia does not recognize shareholder activism, the Indonesian Company Law (Law No. 40 of 2007 regarding Limited Liability Companies) gives certain rights to each shareholder and minority shareholder that allow them to influence the company’s actions.
Indonesia's Ministrt of Communication and Informatics relatively recently issued MOCI Regulation No. 20 of 2016 regarding the Protection of Personal Data in Electronic Systems, which stipulates the protections afforded to personal data stored in an electronic system.
With the introduction of the Online Single Submission (OSS) system, as regulated under Government Regulation Number 24 of 2018 on Integrated Business Licensing Services through Electronic System (GR 24/2018), the issuance and supervision of a significant portion of capital investment licensing has been transferred from the Capital Investment Coordinating Board (BKPM) and several other government agencies to the OSS system.
As part of the push by the administration of President Joko Widodo to improve the ease of doing business in Indonesia and increase investment, the government has issued Government Regulation Number 24 of 2018 regarding Online Business Licensing Services (GR 24), which was signed and came into effect on June 21, 2018.
Indonesia has the largest economy in Southeast Asia, predicted to be the fifth-largest economy in the world by 2030. Indonesia has made deregulating its economy a focus and the country jumped 19 places to 72 in the World Bank’s 2018 Ease of Doing Business index.
Indonesia’s construction and projects market is growing and is predicted to continue to strengthen. Infrastructure development has been one of the main focuses of the current administration of President Joko “Jokowi” Widodo.