The government guarantees investment certainty and security in Indonesia, says Jokowi

Indonesian President Joko Widodo on Monday (Nov 29, 2021) said he will ensure both domestic and foreign investments that have been made, as well as investments that are and will be in progress, in the country remain safe and secure. - AFP

JAKARTA, Nov 29 (Bernama): Indonesian President Joko Widodo (Jokowi) on Monday said he will ensure both domestic and foreign investments that have been made, as well as investments that are and will be in progress, remain safe and secure.

"Once again, I ensure that the government guarantees investment certainty and security in Indonesia,” Jokowi said in a statement today, adding that related cabinet ministers have been urged to follow up on the ruling.

The Constitutional Court's judges last week agreed that the method of merging of the omnibus law in the Job Creation Act was unclear and the discussion process of the act not in accordance with the rules.

The court ordered the government to revise parts of the law within two years, which was created last year to try to lure foreign investors.

"I’ll continue to lead and assure legal certainty and government support for ease of investment and ease of doing business,” Jokowi said.

Malaysian investors have continued to expand its investments in Indonesia, with total investments amounting to US$12.53 billion.

Five memorandums of understanding and agreements worth US$3.1 billion were sealed by the private sectors of both countries during Prime Minister Datuk Seri Ismail Sabri Yaakob's official visit to Indonesia early this month. - Bernama