The welcome one is Indonesia’s chairmanship of the G-20 group of 19 of the world’s largest economies, plus the European Union. [...] Scrapping the entire law would be a big embarrassment for the president, who initiated it, and a disaster for the investment climate. [...] If that happened, the red tape that the law aimed to slash and the obstacles it seeks to remove would be back, including a “Negative Investment List” of business areas closed to foreigners that had frustrated investors for decades. [...] The Constitutional Court ordered the government to “create a legal ground” for the Omnibus Law, as none is given in the 2011 legislation. [...] Widodo risks being regarded as a lame duck well before the election and there is no guarantee that some of the parties that backed him on the Omnibus bill in 2020 will, given the horse-trading between parties as they jockey for prime position in the upcoming election.
Authors
- Pages
- 4
- Published in
- Singapore
