Page 195 - e-KLIPING KETENAGAKERJAAN 7 OKTOBER 2020

Judul Omnibus law: Biggest ‘big bang’ reform ever
Nama Media Jakarta Post
Newstrend Omnibus Law
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It is unfortunate that most headline stories about the newly passed Omnibus Law on job creation
have singled out the most controversial of the thousands of provisions in its 905 pages, only to
contribute to the public hostility toward what should be lauded as the most comprehensive “big
bang” economic reform ever launched.

More than 90 percent of the law is actually designed to stimulate domestic and foreign
investment by removing bureaucratic inefficiencies and excessive licensing requirements as well
as opaque, overlapping and contradictory regulations that have long hindered competitiveness.

OMNIBUS LAW: BIGGEST ‘BIG BANG’ REFORM EVER

It is unfortunate that most headline stories about the newly passed Omnibus Law on job creation
have singled out the most controversial of the thousands of provisions in its 905 pages, only to
contribute to the public hostility toward what should be lauded as the most comprehensive “big
bang” economic reform ever launched.

More than 90 percent of the law is actually designed to stimulate domestic and foreign
investment by removing bureaucratic inefficiencies and excessive licensing requirements as well
as opaque, overlapping and contradictory regulations that have long hindered competitiveness.
The House of Representatives was prompted to endorse the omnibus bill by the miserable failure
of almost 20 reform packages that were launched from 2015 to 2019. Those reforms were largely
ineffective because their implementation was undermined by the regulatory overlap and conflict
deriving from about 80 laws as well as thousands of presidential regulations and ministerial
decrees.

It would have taken more than a decade to revise the numerous laws and regulations through
the process of conventional lawmaking and raucous deliberation with attendant politics. The
economy, already mired in a recession, badly needs huge investments right now to boost growth
and create jobs, and thereby reduce poverty and income inequality.

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