President: Emergency Law Provides Legal Certainty for Investors
The government would need to accelerate anticipatory measures over the global situation, overshadowed by threats of global recession, rising inflation and stagflation.
Coordinating Minister for the Economy Airlangga Hartarto, Coordinating Minister for Political, Legal and Security Affairs Mahfud MD, and Deputy Minister of Law and Human Rights Edward OS Hiarief announced the lieu of law (perppu) on Job Creation after meeting the President at the Merdeka Palace, Jakarta, Friday (30/12/ 2022)
JAKARTA, KOMPAS — President Joko “Jokowi” Widodo has announced the issuance of emergency law in the form of a Government Regulation in lieu of law (perppu) No. 2/2022 in the hope that it will provide legal certainty for both domestic and foreign investors. It came up following the suspension of Law No. 11/2020 on job creation, which was declared conditionally unconstitutional by the Constitutional Court.
"The situation looks normal. [In fact] threats of global uncertainty are lurking. We know that. I have repeatedly stated it, how many countries have [already] become patients of the IMF: 14. [Another] 28 are queuing at the door of the IMF, also as patients," President Jokowi said. He was speaking in response to media queries following a meeting, in which he announced the lifting of the public-activity restriction (PPKM) implementation at the State Palace in Central Jakarta on Friday (30/12/2022).