Indonesia eases rules in major foreign investment reform

The new legislation aims to synchronise overlapping labour, tax and other key laws deemed unfavourable to businesses and investors. - Reuters

SINGAPORE (The Straits Times/ANN): The Indonesian government has laid down the ground rules for its new law on job creation, widely seen as an ambitious regulatory reform to lure foreign investments and stimulate the pandemic-hit economy.

President Joko Widodo signed 49 "implementing rules" last month to provide officials with specific details on how the law would be applied in practice and guide businesses on how they should operate.